CamGraPhIC, the graphene technology start-up, has received funding of £813,475 from members of the Wealth Club through the Enterprise Investment Scheme (EIS).
CamGraPhIC, a spin-out from the University of Cambridge, is creating graphene-based photonics technology that could be used in optical transceivers and telecommunications networks.
Graphene is stronger than steel as well as a conductor of electricity and heat. In the future, it could replace the use of silicon inside electronics.
“The company has the potential to be a leading manufacturer of next-generation optical devices for use in global 5G markets. Although still in development, the products appear to be delivering performance at low cost and have achieved important milestones since the last funding round,” said Alex Davies, CEO and founder, Wealth Club.
The startup will use the funding to complete manufacturing and testing of its prototype devices, with plans to begin consumer testing next month.
The investment was completed through a “forward subscription agreement”, in which shares are given in the future as part of a financing round or as convertible.
CamGraPhIC’s capital injection joins Wealth Club with the £1.26m invested by Frontier IP and Wealth Club. It follows on from a £1.6m round last September.
Paul Mantle, Chief Executive, CamGraPhIC, said: “We are delighted to advance this round of funding. Our graphene-based photonics technology has the potential to transform high-speed data and telecommunications. We look forward to evaluating the technology with customers and getting the first results.”
Wealth Club, founded in 2016, is an investment for the service of high network individuals. According to the company it has over 9,000 clients who have invested over £900m.
Graphene manufacturer Integrated Graphene Last month it announced its £8m investment to scale up its commercial manufacturing process for Graphene.
CamGraPhIC has received £813,000 for 5G graphene technology
Source link CamGraPhIC has received £813,000 for 5G graphene technology