iGii raises £12M Series B to scale its lab-grown carbon nanomaterial
What's the deal? Scottish deep tech company iGii has raised an £11.7 million Series B led by the Scottish National Investment BankDealroom has a profile for this one. Try Dealroom →, with backing from PXN GroupDealroom has a profile for this one. Try Dealroom → and ArchangelsDealroom has a profile for this one. Try Dealroom →. The round arrives alongside £11 million in funding from Scottish EnterpriseDealroom has a profile for this one. Try Dealroom →, taking total new backing to £22.7 million.
What does it do? iGii makes Gii, a proprietary carbon nanomaterial that is grown rather than mined. It says the material works across applications including sensing, diagnostics, energy storage, and industrial manufacturing, giving manufacturers a platform to differentiate their products.
Where the money goes: iGii will use the funding to accelerate commercialisation and industrial adoption of Gii. The company says years of development have taken the material from an early breakthrough to something that can be manufactured reliably at industrial scale.
Why now? The raise lands as global supply chains face pressure, with access to critical materials such as platinum and gold constrained by concentrated supply and geopolitical uncertainty. The UK government's industrial strategy places advanced materials at the centre of rebuilding domestic manufacturing.
What they said: "Every industrial revolution has been enabled by a breakthrough in materials, and this funding means iGii can help enable the next one," said chief executive officer Jean-Christophe Granier. He added that the investment lets the company "work with some of the world's biggest manufacturers to turn those capabilities into differentiated products."
The signal: The round sits above the median for its class, ranking in roughly the 54th percentile by size — a solid but not outsized raise. It reflects growing interest in "material sovereignty," or the ability of nations to secure the materials they depend on without relying on exposed global supply chains.
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Image credit: Idaho National Laboratory
