Versarien LogoVersarien recently announced a fundraising to raise approximately £1.2 million, Now, the Company stated that it has successfully completed the fundraising, which "received a very strong response and was oversubscribed".

Given the demand, Versarien decided to increase the size of the fundraising, which will result in gross proceeds, before expenses, of £2,906,047. The Company will use the proceeds of the fundraising to purchase capital equipment and provide working capital to enable the various existing and prospective graphene related collaborations with global OEMs to be progressed. The intended capital equipment purchases are designed to enable the Company to increase the production capacity of its proprietary Nanene few layer graphene nano-platelets by a factor of approximately ten.

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