iGii secures £22.7m in Series B and enterprise funding to scale advanced materials production.
The funding package was led by the Scottish National Investment Bank alongside Scottish Enterprise, PXN Group, and Archangels.
iGii is a deep tech advanced materials business that produces Gii, a proprietary carbon nanomaterial designed to replace constrained raw materials across multiple industries.
Advanced materials company iGii has secured £22.7m in total backing, comprising an £11.7m Series B round and £11m in funding from Scottish Enterprise. The round was led by the Scottish National Investment Bank, with participation from PXN Group and Archangels.
The capital will support the company as it transitions from research and development into commercial execution. iGii plans to scale its manufacturing capability for its proprietary carbon nanomaterial, Gii, and convert existing commercial relationships into long-term supply agreements over the next two years.
In addition to commercial expansion, the funding will support workforce growth, with headcount projected to reach nearly 70 employees by the end of the year.
Investor perspective
"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."
Alastair McMillen
Associate Director – Sustainable Places, Scottish National Investment Bank
Use of funds
- 01Grow the team
- 02Fund research and development
- 03Accelerate go-to-market
Investors
Alastair McMillen
Scottish National Investment Bank
PXN Group
Niki McKenzie
Archangels
Adrian Gillespie
Scottish Enterprise