Paragraf secures $55 Million in Funding from Mubadala

Paragraf, the UK-based company leading the way in mass-producing graphene-based electronics using industry-standard semiconductor processes, has completed a $55 million Series C funding round and the investment came from Mubadala, the sovereign wealth fund of the UAE, which acquired a 12.8% stake in the business.

The funding will accelerate scaling of Paragraf’s manufacturing capabilities and boost production output to enable the adoption of graphene electronics in mass markets.

Paragraf’s technology integrates seamlessly with the established semiconductor ecosystem, providing customers with ready-to-use solutions and the platform on which to develop bespoke applications tailored to their needs.

Graphene’s unique properties enable devices to perform faster, more accurately and with lower energy consumption than silicon-based alternatives — especially in extreme environments, from cryogenic systems in quantum computing to high-temperature and high-radiation applications in an array of industries.

In molecular sensing, Paragraf Graphene Molecular Sensors (GMS) are being used to produce liquid and gas sensors for the early detection of disease and use in various other healthcare, agritech, food and chemical manufacturing, and consumer solutions. Graphene-based technologies are opening new possibilities across a range of sectors.

Co-Founder and CEO of Paragraf Dr Simon Thomas said that this investment is a strong signal of confidence in Paragraf and their mission in the face of global economic uncertainty. This new funding will enable Paragraf 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,” Dr Thomas added.

Some of Paragraf’s investors include Amadeus Capital Partners, British Patient Capital, Cambridge University, IQ Capital, IQTI LLC, Martlet Capital Ltd, Molten, Mubadala Capital, New Science Ventures, Openfield Capital, and Parkwalk Advisors (IP Group).

Founded in 2015, Paragraf is pioneering the development and commercial adoption of graphene-based electronic devices using industry-standard semiconductor processes.

With lines of magnetic sensors and GMS already in production, and other advanced semiconductor devices in development, Paragraf’s proprietary graphene growth process unlocks the full potential of this remarkable material.

Three Facilities

The company operates three facilities — two in Cambridgeshire, UK, and one in San Diego, US, following the rare 2023 acquisition of a US-based company by a UK scale-up. Paragraf now has a growing footprint throughout the US, Europe, the Middle East and Asia.

Speaking to The Times, Thomas said the funding from Mubadala led to increased scrutiny of the deal from the UK government, which closely monitors transactions relating to the domestic chip industry.

Thomas said the National Security investigative limbo left the firm within two weeks of running out of cash, while waiting on the substantial foreign investment. The round took six months to receive approval from ministers, he added.