UK-based Paragraf Secures €46.9M In Series C Round

Paragraf, founded in 2015, develops advanced electronic devices using graphene and standard semiconductor processes. The company creates magnetic sensors and Graphene Molecular Sensors (GMS), with more semiconductor devices in development. Its unique method for growing graphene makes this possible.

Graphene helps devices run faster, more precisely, and with less energy than traditional silicon-based technology—even in extreme conditions like high heat, cold, or radiation.

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Paragraf’s GMS technology is used in sensors for early disease detection and has applications in healthcare, agriculture, food, chemicals, and consumer products. Its graphene tech is being adopted across various industries.

Paragraf’s solutions work within existing semiconductor systems, making it easier for customers to develop tailored applications.

The company runs three facilities—two in Cambridgeshire, UK, and one in San Diego, USA (added through a 2023 acquisition)—and has a growing presence in the US, Europe, the Middle East, and Asia.

The funding will help Paragraf expand its manufacturing facilities and boost production, enabling the wider use of graphene-based electronics in large-scale, mainstream markets.

Dr Simon Thomas, co-founder and CEO of Paragraf, says, “This investment is a strong signal of confidence in Paragraf and our mission in the face of global economic uncertainty. This new funding will enable us to expand production of faster, more energy-efficient technologies to the scale required by major commercial opportunities.”

“In what is a particularly challenging funding environment, we’ve attracted strong interest and are pleased to have secured the backing of both new and existing partners who share our vision for transforming electronics with graphene.”

Paragraf is backed by a strong group of investors, including Amadeus Capital Partners, British Patient Capital, Cambridge University, IQ Capital, IQTI LLC, Martlet Capital, Molten, Mubadala Capital, New Science Ventures, Openfield Capital, and Parkwalk Advisors (part of IP Group).

About Paragraf

Founded in 2017, Paragraf is the first company to mass-produce graphene-based electronic devices using standard semiconductor processes. Its magnetic and molecular sensors leverage a proprietary graphene growth method. Paragraf has won awards including the 2020 Excellence in Product Design, 2021 Automotive Electronics Award, and 2023 Business of the Year.