Paragraf raises $60m for graphene
Paragraf in Cambridge has raised $60m for its graphene technology in a Series B round of financing, writes Peter Clarke.
Participants in the round included previous investors Parkwalk, Amadeus Molten Ventures and IQ Capital as well as new investors New Science Ventures, British Patient Capital and In-Q-Tel, US intelligence’s venture capital arm, which also took a stake in another Cambridge company, Agile Analog.
Paragraf has developed scalable technology for the mass production of transfer-free graphene on semiconductor industry-compatible wafers. Paragraf uses this technology to produce graphene-based electronics devices such as low-power high-sensitivity Hall sensors.
The technology has been used by research institutes and companies around the world including CERN in Geneva, Switzerland) and Rolls Royce
The cash injection will be used to build out engineering and development teams to continue meeting demand for sensors and also to develop new graphene-based electronic devices, Paragraf said. The company’s footprint will be extended to the Americas, Asia as well as Europe.
“Graphene is the material which will move the microelectronics industry beyond conventional semiconductors. In the foreseeable future, high-volume manufacturers will be able to use Paragraf chips which offer far better performance at far lower power than any silicon-based device is physically capable of,” said Simon Thomas, CEO of Paragraf.
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