iGii Raises €26.49 Million in Series B Funding
iGii, a company based in Stirling, Scotland, specializing in sustainable 3D carbon nanomaterials, has announced the successful closing of a €26.49 million funding round. This Series B investment was led by the Scottish National Investment Bank, with additional participation from PXN Ventures, Archangels, and Scottish Enterprise.
Company Background
iGii focuses on developing Gii, a proprietary three-dimensional carbon nanomaterial with a porous structure. This advanced material is designed for a variety of industrial applications, aiming to revolutionize sectors by enhancing product performance and sustainability.
Leadership and Vision
The company is led by CEO Jean-Christophe Granier and Co-Founder Marco Caffio, who also serves as the Director and Chief Scientific Officer. Granier commented on the funding, saying, "Every industrial revolution has been enabled by a breakthrough in materials, and this funding means iGii can help enable the next one."
Use of Funds
The newly acquired funds will be utilized to accelerate the commercial development and industrial application of Gii. This involves scaling up production capabilities and expanding the company's reach into new markets.
Investors' Confidence
The involvement of notable investors like the Scottish National Investment Bank and Scottish Enterprise underscores a strong vote of confidence in iGii's potential to transform industrial materials through innovative nanotechnology.
Conclusion
With this substantial Series B funding, iGii is well-positioned to enhance its manufacturing capabilities and bring its breakthrough carbon nanomaterial to broader markets, potentially driving significant advancements in various industries.