iGii, a Stirling-based advanced materials company, has raised €26.5 million (£22.7 million) to commercialise its carbon nanomaterial, Gii. The round includes a €13.65 million Series B led by the Scottish National Investment Bank, with PXN Ventures and Archangels, plus €12.84 million from Scottish Enterprise, the company announced.
What the company does
iGii makes Gii, a three-dimensional porous carbon nanomaterial. Rather than mining or compounding it, the company grows Gii using a process that runs at room temperature and scales to industrial volumes.
iGii says the material can be used in several applications, including multi-analyte sensing, microheaters and flexible printed battery electrodes. The company was founded in 2016 and is based in Stirling.
The round
The €26.5 million round, as reported by EU-Startups, comprises a €13.65 million (£11.7 million) Series B led by the Scottish National Investment Bank, with additional backing from PXN Ventures and Archangels, plus €12.84 million (£11 million) from Scottish Enterprise.
iGii plans to use the funding to move from research and development into commercial production, working with large manufacturers to develop products using Gii. Over the next 12 to 24 months, the company says it will focus on turning those relationships into long-term supply agreements. The investment will also support growth of iGii’s team, which the company expects to reach nearly 70 by the end of the year.
Jean-Christophe Granier, chief executive of iGii, said: “Every industrial revolution has been enabled by a breakthrough in materials, and this funding means iGii can help enable the next one. We’ve spent years proving what Gii can do and building the manufacturing capability to take it from scientific breakthrough to industrial reality.”
Frequently asked questions
What does iGii do?
iGii is a Stirling-based advanced materials company that has developed Gii, a proprietary three-dimensional porous carbon nanomaterial grown using a room-temperature process. The company says Gii can be used in several applications, including sensing, microheaters and flexible printed battery electrodes.
Who invested in iGii?
iGii’s €26.5 million round was led by the Scottish National Investment Bank, with participation from PXN Ventures and Archangels, plus a separate €12.84 million contribution from Scottish Enterprise, according to the company’s announcement.
What will iGii use the funding for?
iGii says the funding will support the commercialisation of Gii, including work with large manufacturers to develop products, and growth of its team to nearly 70 people by the end of 2026.
