$60m touted for Paragraf Series B, backed by CIA-linked venture
A Cambridge Cluster company transforming graphene production to enhance related technology plays has been tipped to lead a global revolution in the field by tech entrepreneur and Arm co-founder Dr Hermann Hauser after it raised big money in a Series B round.
Paragraf is not releasing details of the new raise at this time but the figure of $60 million is being touted behind the scenes; the FT certainly cited that amount in a story which revealed that the UK government and In-Q-Tel – a venture enterprise founded by and linked to the CIA (Central Intelligence Agency) in the US – were among a raft of backers.
Cambridge’s Amadeus Capital Partners, co-founded by Dr Hauser, is among the investors. Dr Hauser told Business Weekly: “Paragraf is a fabulous business. I am very bullish about its future prospects. Its unique technology is revolutionising graphene production.”
He added that In-Q-Tel “has many investments in the UK and is regarded as a good syndicate partner.”
Paragraf’s diplomacy on the Series B raise would draw envy from the CIA itself! A spokesperson for Paragraf, based in Somersham near St Ives, would only tell Business Weekly: “Over the past few months Paragraf has been concluding its Series B raise, the details of which are unfortunately still under embargo at present.”
Paragraf delivers game-changing, commercial quality, graphene electronic devices for the sensor, energy and semiconductor markets.
Its clever website slogan says it is “materially transforming electronics.’ As the website also details, Paragraf has perfected a proprietary process for depositing single-atom thick, two-dimensional materials, including graphene, directly onto silicon, silicon-carbide, sapphire, gallium-nitride and other semiconductor-compatible substrates.
The contamination-free technology is scalable, and compatible with existing electronic device manufacturing processes.
Serving the sensor, energy harvesting and semiconductor markets, Paragraf has developed its own Hall-Effect Sensors for measuring magnetic fields in demanding environments. It is now partnering with electronic device makers to enable them to take advantage of the unique properties of graphene.
Paragraf was a spin-out from the Department of Materials Science at Cambridge University.