Graphene tech startup CamGraPhIC has secured £813,475 in funding from Wealth Club members through the Enterprise Investment Scheme (EIS).
CamGraPhIC, a University of Cambridge spin-off, is creating graphene-based photonics technology that could be used in optical transceivers and in telecommunications networks.
Graphene is stronger than steel and conducts electricity and heat. In the future, it could replace the use of silicon in electronics.
“The company has the potential to be a leading manufacturer of next-generation optical devices for global 5G markets. Although still in development, the products appear to deliver low cost performance and have achieved key milestones since the last funding round,” said Wealth Club CEO and Founder Alex Davies.
The startup will use the funding to complete manufacturing and testing of its prototype devices, with consumer testing expected to begin next month.
The investment was made through an “advance subscription agreement”, where shares are given in the future as part of a funding round or converted.
Capital injection from Wealth Club CamGraPhIC joins £1.26 million invested by Frontier IP and Wealth Club. It follows a £1.6m round last September.
Paul Mantle, CEO of CamGraPhIC, said, “We are excited to move this funding round forward. 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 receiving the first results. »
Wealth Club, founded in 2016, is an investment serving high-network individuals. According to the company, it has over 9,000 clients who have invested over £900m.
Graphene maker Graphene Integrated last month announced its £8 million investment to scale up its commercial manufacturing process for graphene.