Scottish nanomaterial producer secures £8.8 million funding

Nanomaterial producer iGii has announced £8.8m in new funding.

The Stirling-based company, formerly known as Integrated Graphene, will use the funds to accelerate customer projects, increase its manufacturing capacity, and deepen its research and development.

The company also plans to expand its facilities in order to make room for more local jobs.

The round was led by a £4m injection from the Scottish National Investment Bank, with a further £4.8m coming from existing shareholders Archangel Investors and Par Equity, both of which first invested in the business in 2020.

It follows Jean-Christophe Granier joining the business as chief executive in September 2023 to enhance commercial performance.

The company’s patented innovation, Gii, is a 3D foam made from carbon atoms. It combines the physical properties of graphene – such as sensitivity, flexibility and conductivity – without its scale-up and mass application challenges.

The new money will help iGii scale manufacturing of Gii-Sens, its highly sensitive and accurate component for point-of-care diagnostic sensors. This application of Gii is experiencing strong demand globally due to its ability to deliver precise, laboratory-level results for a range of illnesses and indicators of illness, including cancers, pathogens and liver and heart failure.

The company will also deepen its research and development into other applications, targeting improved performance for water and food quality sensors, agricultural sensors and battery storage.