- The £11.7m Series B, led by Scottish National Investment Bank, with further backing from PXN Group 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 have taken Gii from breakthrough material to an industrially scalable technology
iGii, the deep tech advanced materials company behind the proprietary carbon nanomaterial Gii, today announces £22.7 million in new funding to accelerate the commercialisation and industrial adoption of its technology. Grown rather than mined, Gii can perform across many different applications and industries, giving manufacturers a high-performing material platform from which to differentiate their next generation of products.
The round comprises an £11.7 million Series B investment led by the Scottish National Investment Bank (“The Bank”), with additional backing from PXN Group and Archangels, alongside £11 million funding from Scottish Enterprise.
This investment lands as global supply chains are under growing pressure, with access to critical materials such as platinum and gold constrained by concentrated supply and geopolitical uncertainty. That has sharpened the debate around material
sovereignty – the ability of industries and nations to secure the materials they depend on, rather than relying on exposed global supply chains. At the same time, the UK Government’s industrial strategy places advanced materials at the centre of rebuilding domestic manufacturing capability. Together, that raises the value of materials that can deliver greater performance while reducing reliance on constrained supply.
For iGii, the opportunity extends beyond replacing any individual material: it is about giving manufacturers new capabilities, allowing them to overcome the performance and supply constraints of incumbent technologies. Years of scientific and engineering innovation have taken Gii from early breakthrough to a material that can be manufactured reliably and at industrial scale – and because the same material platform can be deployed across multiple applications and industries, it creates new opportunities for product differentiation across sensing, diagnostics, energy storage and industrial manufacturing.
Jean-Christophe Granier, CEO of iGii, said: “Every industrial revolution has been enabled by a breakthrough in materials, and this funding means iGii can help enable the next one. 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 of what this team has built and the opportunity ahead of us. 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 to turn those capabilities into differentiated products and long-term relationships.”
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.”
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.
“This funding package demonstrates how Scotland’s innovation partners get behind the biggest growth opportunities, combining private investment, patient capital and targeted public sector support to help ambitious businesses scale.
“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.”
The funding marks the point at which private investors and government are backing that commercialisation together. With manufacturing capacity already capable of supporting large-scale production runs across multiple industries, iGii is using the investment to move from years of R&D into execution – expanding what Gii can enable while scaling the capability required to support adoption by the world’s biggest manufacturers. Over the next 12-24 months, that will focus on deepening those 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 company currently employs 55 Integrators, including 17 PhDs who collectively speak more than 22 languages – reflecting the international talent it has attracted to Scotland. Aidan MacMillan, Investment Director at PXN Group 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-investors.”
