UK graphene-based electronics tech company Paragraf has closed a £12.8m funding round.

The round was led by Parkwalk and included investment from IQ Capital Partners, Amadeus Capital Partners and Cambridge Enterprise, the commercialisation arm of the University of Cambridge, as well as several angel investors.

The firm is a spin-out from the Centre for Gallium Nitride group of Professor Sir Colin Humphreys in the Department of Materials Science at the University of Cambridge.

It is the first company to deliver IP-protected graphene tech using standard, mass production scale manufacturing approaches.

The latest funding will allow the firm to take its first graphene-based electronics products to market, transitioning the company into a commercial, revenue-generating entity.

“This funding marks the start of the next phase in Paragraf’s growth,” said Dr Simon Thomas, CEO and Co-founder of Paragraf.

“I am extremely proud of the young team at Paragraf who have collectively delivered the early strategy milestones with great skill.

“This next phase will allow Paragraf to make these truly game-changing technologies a reality. Paragraf is continually seeking like-minded collaborative development, production and commercial partners to accelerate the delivery of the many exciting electronics technology opportunities graphene has to offer.”

Alastair Kilgour from lead investor Parkwalk added: “Parkwalk has been impressed by the strong progress the management and company have made since the seed round and is delighted to lead this funding round.

“We believe that Paragraf is well-equipped to deliver the unique benefits of graphene to their customers and licensees, which in turn will enable transformative products.”