Subscribe to the daily newsletter.

£8.8m for Scottish tech startup

Stirling-based iGii, formerly known as Integrated Graphene, has landed £8.8m in new funding.

The company will use the funds to accelerate customer projects, increase its manufacturing capacity, and deepen its research and development to explore further applications of its patented Gii material. iGii also plans to expand its facilities and continue creating highly skilled local jobs.

The funding round was led by a £4m injection from the Scottish National Investment Bank (SNIB), with a further £4.8m coming from existing iGii shareholders Archangel Investors and Par Equity, both of whom first invested in the business in 2020. It follows Jean-Christophe Granier joining the business as CEO in September 2023 to enhance its commercial performance.

iGii’s patented innovation, Gii, is 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.

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.

A recent collaboration with the University of Bath used Gii-Sens to underpin a new battery-free sensor for testing lactic acid in athletes, opening up the possibility of 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, said: “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.”

Gii is also an environmentally sustainable material as it 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.

Alastair McMillen, associate director, sustainable investment at SNIB added: “We are excited by the growth and impact potential of iGii, and we are pleased to be invested in the company’s future, which includes scaling its products for a global market and bringing more skilled jobs to Stirling.

“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.”

Subscribe to the Prolific North Daily Newsletter Today!

Want all the latest content from Prolific North delivered direct to your inbox daily? Of course you do!

Related News