iGii secures £8.8M funding to boost nanomaterial production

iGii has created a carbon-based 3D foam with the benefits of graphene but is easier to produce for wider use.
iGii secures £8.8M funding to boost nanomaterial production

Nanomaterial producer iGii has raised £8.8 million in new funding to accelerate growth.

The Stirling-based company, formerly known as Integrated Graphene, has developed Gii™, a 3D foam made from carbon atoms. It combines the desirable physical properties of graphene, such as sensitivity, flexibility and conductivity, without its scale-up and mass application challenges.

Gii is manufactured using a proven low-energy and chemical-free process, producing minimal waste and making the material more cost-effective than traditional sensing materials, such as gold.

Scientists at the University of Bath recently used Gii-Sens™ to underpin a new battery-free sensor for testing lactic acid in athletes, opening up the possibility for an easy-to-use sensor that is available in remote locations – such as an athletics track – without the need for electricity-powered sensing equipment.

Jean-Christophe Granier, Chief Executive Officer at iGii commented: 

“We are laser-focused on bringing our revolutionary Gii™ technology to markets, with immediate and significant opportunities in the healthcare sector. 

This additional funding will enable us to accelerate ongoing customer projects and invest in our reel-to-reel manufacturing capabilities to deliver commercial quantities of Gii™ worldwide for our customers.”

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

Alastair McMillen, Associate Director, Sustainable Investment at the Bank said: 

“The company's patented technology exemplifies cutting-edge advancements in nanomaterials, and aligns to our mission to drive innovation, helping to grow our economy and make it more competitive.”

Niki McKenzie, Joint Managing Director for Archangels, shared: 

“As an ambitious Scottish tech company with significant global opportunities, iGii is a great example of the type of business we invest in to drive long-term growth. Having scaled up its manufacturing capabilities, and with this funding secured, iGii now has the platform to realise its growth ambitions.”

The cash injection 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 R&D into other applications of Gii™, targeting improved performance for water and food quality sensors, agricultural sensors, and battery storage.

Lead image: Megan McAuliffe (Development Scientist, iGii), Jean Christophe-Granier (CEO, iGii), Alastair McMillen (Associate Director, Scottish National Investment Bank) and Niki McKenzie (Joint Managing Director, Archangels) inspecting the quality of a sheet of Gii-Sens.  Photo: uncredited.

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