Stirling deep-tech advanced materials firm iGii, a 3D carbon nanostructure company, said it raised £22.7 million in a package that brings together £11.7 million in Series B equity led by the Scottish National Investment Bank and £11 million of Scottish Enterprise support as it moves into the next stage of commercialisation.
“iGii has today announced a combined £22.7 million package to accelerate the commercialisation and industrial adoption of Gii, our proprietary 3D porous pure carbon nanomaterial,” said the Stirling firm.
“The package combines an £11.7 million Series B equity investment led by the Scottish National Investment Bank, with further backing from PXN Ventures and Archangels, alongside £11 million of support from Scottish Enterprise.
“It represents an important milestone for iGii, but the bigger story is what comes next: 2026 marks the company’s tenth year, and this package accelerates the commercialisation of a decade of science, engineering, manufacturing development and customer learning.”
iGii CEO Jean-Christophe Granier 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.”
iGii said: “The investment comes at a time when manufacturers are looking increasingly closely at the materials on which their products depend.
“Global supply chains remain exposed to geopolitical uncertainty and concentrated sources of critical materials, while manufacturers are simultaneously being asked to improve performance, increase resilience and develop the next generation of products.
“That creates an opportunity for materials that can offer new capabilities while being manufactured through scalable and resilient processes.
“Gii is grown at room temperature rather than mined or compounded. Its three-dimensional porous carbon architecture creates a material platform that can be engineered for different applications without relying on many of the conventional approaches associated with carbon materials.
“For iGii, however, the opportunity isn’t simply about replacing one material with another. It’s about giving manufacturers greater freedom to create products that existing materials can make difficult to achieve.”
Alastair McMillen, Associate Director – Sustainable Places, 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.”
Aidan MacMillan, Investment Director, 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, Archangel Investors, said: “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.”
Scottish Enterprise CEO Adrian Gillespie 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.”