- The £11.7m Series B, led by the Scottish National Investment Bank, with further backing from PXN Ventures and Archangels, will accelerate the commercialisation and adoption of Gii, iGii’s proprietary carbon nanomaterial.
- The Series B funding is accompanied by £11m of Scottish Enterprise funding, taking total backing to £22.7m and supporting the next stage of iGii’s technology, manufacturing and development.
The investment follows years of scientific and manufacturing development that has taken Gii from breakthrough material to an industrially scalable technology.
The Bank’s portfolio company, iGii, has secured £22.7 million in new funding to accelerate the commercialisation and industrial adoption of its technology. iGii is the deep tech advanced materials company behind the proprietary carbon nanomaterial Gii.
The funding package includes an £11.7 million Series B investment led by the Bank, with additional backing from PXN Ventures and Archangels, alongside £11 million from Scottish Enterprise. The Bank has committed £4m in this round, taking its total commitment to iGii to £12m.
A high performing material
Gii is grown rather than mined and can perform across a range of applications and industries, giving manufacturers a high-performing material platform to support the development of next-generation products. iGii gives manufacturers an alternative to existing materials, helping them improve product performance and reduce supply chain issues. For example, it can be used as a substitute for gold, platinum and graphite used in sensors and electrodes.
The material has the potential to enable innovation across a wide range of sectors, including energy storage, diagnostics, environmental monitoring and industrial technologies.
The investment comes as global supply chains face growing pressure and as advanced materials play an increasingly important role in strengthening domestic manufacturing capability.
Years of scientific and engineering innovation have taken Gii from early breakthrough to a material that can be manufactured reliably and at industrial scale, with potential applications across sensing, diagnostics, energy storage and industrial manufacturing.
From breakthrough to reality
Jean-Christophe Granier, CEO of iGii, said: “We’ve spent years proving what Gii can do and building the manufacturing capability to take it from scientific breakthrough to industrial reality. To now have the Scottish National Investment Bank, PXN, Archangels and Scottish Enterprise backing the next stage of iGii is a tremendous endorsement. This investment accelerates the commercialisation of Gii - expanding what the material can enable and allowing us to work with some of the world's biggest manufacturers.”
Alastair McMillen, Associate Director, Sustainable Places at the Scottish National Investment Bank, said: “The Bank is delighted to continue to support the growth of iGii alongside our co-investors PXN Ventures and Archangels and now with the support of Scottish Enterprise. The capital that iGii has attracted is a strong indicator of the exciting potential for its Gii technology and the positive impact it could have in the world.”
The funding will support iGii as it moves from years of R&D into execution, expanding what Gii can enable while scaling the capability required to support adoption by major manufacturers. Over the next 12-24 months, the company will focus on deepening commercial engagements and converting existing relationships into long-term supply agreements.
The investment will also support continued growth across iGii’s team, which is set to reach nearly 70 by the end of the year. The highly-skilled workforce collectively speak 22 languages.
Aidan MacMillan, Investment Director at PXN Ventures said: “iGii is exactly the kind of business PXN exists to back – deep, patient science that’s reached the point of real commercial traction. We’ve watched the team turn a genuine material breakthrough into something manufacturers can actually use, and we’re proud to continue supporting them as they scale.”
Niki McKenzie, Joint Managing Director at Archangel Investors, commented: "Archangels has supported iGii since its early funding rounds, and we've watched that breakthrough technology, developed right here in Scotland, build the commercial traction to disrupt global markets across a broad range of industries and applications. This round marks a major step for a world-class scientific team, and we're excited to back the next phase of commercialisation alongside our co-investor.”
Adrian Gillespie, Scottish Enterprise Chief Executive, said: “iGii’s technology is an exciting, sustainable and scalable alternative to constrained raw materials which will help build resilience in global supply chains. Its wide variety of applications across many high-growth industries has the potential to position Scotland at the forefront of advanced materials innovation.
“Deep tech companies often require long-term backing to bridge the gap between breakthrough research and commercial success, and that is where strategic funding can make a real difference to early success.”
