Versarien, the advanced materials group, has announced a fundraising of approximately £1 million (before expenses). The fundraising comprises an institutional placing by WH Ireland in conjunction with an offer via PrimaryBid.
The Company will use the proceeds of the fundraising to purchase capital equipment for its graphene businesses and for working capital.In February 2017, Versarien launched a new graphene brand, called Nanene. In January 2017, Versarien acquired a majority stake in Cambridge Graphene. In July 2016, Versarien raised £1.1 million from existing investors.