- Scottish tech start-up iGii raises £8.8m in funding for global expansion
- iGii produces graphene-enhanced electrodes for human diagnostic and energy markets
- Funding to be used for creating point-of-care diagnostic sensors, Gii-Sens, for various illnesses
- £4m investment from Scottish National Investment Bank, £4.8m from existing shareholders
- Investment to support research into other applications of Gii technology
Scottish Tech Start-Up iGii Secures £8.8m in Funding
In the latest exciting development for the Scottish tech start-up scene, iGii has successfully raised £8.8m in funding. This significant investment marks a crucial step for iGii as it sets its sights on expanding globally and making waves in the tech industry.
iGii: Pioneering Graphene-Enhanced Technology
iGii, originally founded as Integrated Graphene in 2016, is a nanomaterial producer based in Stirling, Scotland. The company specializes in manufacturing graphene-enhanced electrodes for various markets, including human diagnostics and energy. One of iGii’s standout innovations is the Gii technology patent, a three-dimensional foam crafted from carbon atoms that embodies key properties of graphene, such as conductivity, flexibility, and sensitivity.
The recent funding injection of £8.8m is poised to fuel the development of iGii’s cutting-edge point-of-care diagnostic sensors, known as Gii-Sens. These sensors are designed to provide precise and predictive results for a wide spectrum of illnesses, ranging from pathogens to cancers, liver, and heart failures. iGii’s CEO, Jean-Christophe Granier, expressed the company’s commitment to introducing their revolutionary Gii technology to the market, particularly emphasizing its immediate applications in the healthcare sector.
Related Video
iGii’s Sustainable and Innovative Approach
Beyond its technological advancements, iGii prides itself on its commitment to sustainability. The Gii material is not only highly effective but also environmentally friendly, manufactured through a low-energy and chemical-free process that minimizes waste. This eco-conscious approach not only benefits the environment but also makes the material more cost-effective compared to traditional sensing materials like gold.
Of the total £8.8m investment, £4m was contributed by the Scottish National Investment Bank (the Bank), underscoring the local support for innovative tech ventures. The remaining £4.8m came from Archangel Investors and Par Equity, existing shareholders who had previously invested in iGii in 2020. Alastair McMillen, associate director of Sustainable Investment at the Bank, highlighted iGii’s patented technology as a prime example of cutting-edge advancements in nanomaterials, aligning with the bank’s mission to foster innovation and economic growth.
iGii’s Path to Global Expansion and Growth
Looking ahead, iGii plans to utilize the funding not only to enhance its current offerings but also to explore new applications of the Gii technology. The company aims to improve water and food quality sensors, as well as delve into battery storage enhancements, showcasing its versatility and potential impact across various industries.
Niki McKenzie, joint managing director for Archangels, emphasized iGii’s position as a forward-thinking Scottish tech company with significant global opportunities. With a strengthened manufacturing capacity and secure funding, iGii is well-positioned to realize its growth ambitions and establish itself as a key player in the tech landscape.
IGii’s successful funding round of £8.8m serves as a testament to the company’s innovative spirit, commitment to sustainability, and potential for global impact. As iGii continues to push boundaries and explore new frontiers in technology, the future looks bright for this Scottish tech start-up on the rise.
Links to additional Resources: