1 March 2022: British Patient Capital has participated in the $60m Series B funding round of Paragraf, a Cambridge-based graphene-based electronics company.
This investment is being made through British Patient Capital’s Future Fund: Breakthrough programme, a £375m initiative where British Patient Capital co-invests alongside private sector investors in later stage R&D-intensive UK companies.
Paragraf develops and delivers game-changing, commercial-quality, graphene-based electronic devices using contamination-free technology that is both scalable and compatible with existing electronic device manufacturing production processes.
Since graphene was first isolated it has been hailed as a ‘wonder material’ because of its unique properties. However, it has proven very hard to grow at scale. Paragraf is the first company worldwide to deliver a scalable approach to graphene electronic device manufacturing, by utilising its patented unique contamination-free technology”
Judith Hartley, CEO, British Patient Capital, said: “Paragraf is one of the world’s leading graphene specialists, pioneering a technology discovered in the UK. Our investment will support the business as it continues to develop its technology for use across a wider range of electronics, as well helping the company to scale-up its manufacturing capabilities. I am excited to see what the future holds for Paragraf, and am delighted we can be part of its story.”
Dr Simon Thomas, CEO and Co-founder of Paragraf, said: “Our increasing desire for continually improving electronic device performance paired with the absolute necessity to reduce our power requirements, and hence carbon footprints, demand new technology solutions – next generation materials will be at the heart of this. At Paragraf we are proud to be leading the way, bringing the first 2D material, graphene, into the electronic product supply chain, through our first products, allowing its transformational, game changing properties and benefits to be harnessed.”
About British Patient Capital
British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s plc’s commercial arm.
Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. Launched in June 2018, British Patient Capital has £2.5bn to invest over 10 years in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more at britishpatientcapital.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.
The investment from British Patient Capital into Paragraf does not amount to any endorsement or warranty from British Patient Capital, the British Business Bank plc, or the government of the UK.
Based near Cambridge, UK, and building on significant know-how and IP, Paragraf has developed atom-layer-thick two-dimensional materials, with a focus on graphene. Through its growing IP portfolio, Paragraf is applying these materials to a range of advanced medical, electronic and energy devices to benefit society.