Paragraf Valuation, Funding & Investors

Paragraf is valued at $430M as of August 2025.

Last Paragraf valuation

$430M

Series C · Aug 2025

Last Paragraf funding round

$55M

Series C · Aug 2025

Cumulative funding Paragraf raised

$139M

across 5 funding rounds

Key investors in Paragraf

  • Parkwalk Advisors
  • Amadeus Capital Partners
  • IQ Capital
  • University of Cambridge Enterprise
  • Molten Ventures
  • New Science Ventures

Paragraf Overview

About Paragraf

Paragraf is a Cambridge, United Kingdom-based producer of graphene-based electronic devices using chemical vapor deposition technology. The company manufactures graphene Hall sensors, field-effect transistors, and memory devices for automotive, industrial sensing, and consumer electronics. Its CSG platform enables contamination-free production at scale. Founded in 2017, Paragraf supplies components to Siemens and partners with universities for next-generation semiconductors.


Founded

2015

HQ

United KingdomCambridge

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$430M (Aug 2025)

Paragraf Valuation

Paragraf is currently valued at $430M, based on its Series C in August 2025.

The $55M round was led by Mubadala, with participation from University of Cambridge Enterprise, Parkwalk Advisors, Molten Ventures, New Science Ventures, British Patient Capital and 3 other investors.

Paragraf valuation by funding round

Paragraf valuation by funding round
DateStageValuation
Aug 2025Series C$430M

Paragraf Funding History

Paragraf has raised a total of $139M across 5 funding rounds.

Paragraf's first fundraising round was a $4M seed round in May 2018. The most recent completed round was a $55M Series C in August 2025.

Paragraf funding rounds

Paragraf funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2025Series CMubadala (lead); University of Cambridge Enterprise; Parkwalk Advisors; Molten Ventures; New Science Ventures; British Patient Capital; IQ Capital; Amadeus Capital Partners; Open Field Capital$55M$430MParagraf is a UK-based company headquartered in Somersham, Cambridgeshire, specializing in mass-producing graphene-based electronics using industry-standard semiconductor processes. The company's technology integrates seamlessly with the established semiconductor ecosystem, providing customers with ready-to-use solutions and platforms to develop bespoke applications. Graphene's unique properties enable devices to perform faster, more accurately, and with lower energy consumption than silicon-based alternatives, with applications in quantum computing, electric vehicles, energy storage, chemical testing, and medical diagnostics including cancer drug development. Paragraf closed a $55 million Series C funding round on 25 August 2025, led by Mubadala (Abu Dhabi's sovereign wealth fund), which invested $35 million to acquire a 12.8% stake. The funding round included backing from existing and new investors including Amadeus Capital Partners, British Patient Capital, Cambridge University, IQ Capital, Molten Ventures, New Science Ventures, Openfield Capital, and Parkwalk Advisors. The capital injection was designed to accelerate scaling of Paragraf's manufacturing capabilities and boost production output to enable adoption of graphene electronics in mass markets. The funding came after a lengthy six-month national security review process that delayed ministerial approval, during which the company came within two weeks of running out of cash. CEO and co-founder Dr. Simon Thomas described the company as being 'pushed to the wire,' relying on cash reserves while awaiting approval. Following the investment, Paragraf announced plans to expand internationally by establishing subsidiaries in the Middle East, China, and the United States, building on its existing operations comprising three facilities (two in Cambridgeshire and one in San Diego acquired in 2023) and a growing footprint throughout the US, Europe, the Middle East, and Asia.
Mar 2022Series BNew Science Ventures (lead); Parkwalk Advisors; Molten Ventures; IQ Capital; Amadeus Capital Partners; The Future Fund; IQT$60M-Paragraf, a University of Cambridge spin-out founded in 2018, develops graphene-based electronics and sensors using industry-standard semiconductor processes, targeting applications in aerospace, semiconductor, healthcare, automotive, scientific research, industrial, and quantum computing sectors. The company's Hall Effect Sensor (GHS) products offer performance improvements and environmental benefits like reduced power consumption, with collaborations including CERN, National Physical Laboratory, and Rolls-Royce. A graphene-based biosensor for clinical point-of-care is in development. In January 2022, Paragraf closed a $60 million Series B funding round led by New Science Ventures, with participation from existing investors Parkwalk Advisors, Amadeus Capital Partners, IQ Capital, Molten Ventures, and new investor In-Q-Tel (IQT) through British Patient Capital's Future Fund: Breakthrough. Proceeds are designated for scaling international sales in the UK, US, EU, and Asia, enhancing R&D for technology and product advancement, and expanding manufacturing infrastructure to support global growth. Paragraf has raised a total of $140 million across multiple rounds by 2026, including a subsequent $55 million Series C in 2023 or later led by returning investors to accelerate manufacturing scale-up and production for mass-market adoption of graphene electronics.
Dec 2019Series AParkwalk Advisors (lead)$5M-Paragraf is a UK-based graphene technology spinout from the University of Cambridge founded in 2015, specializing in manufacturing commercial quantities of graphene for applications in computing, energy storage, water filtration, and products like magnetic field sensors. Parkwalk Advisors led a funding round reported as £12.8m ($16m), likely in 2019, to increase headcount and build out the business. Previous funding included a $4m round in May 2018 led by Cambridge Enterprise with participation from Parkwalk Advisors, Amadeus Capital Partners, IQ Capital Partners, and angels, bringing total funding to at least $20m at that point.
Jul 2019Series AParkwalk Advisors (lead); University of Cambridge Enterprise; IQ Capital; Amadeus Capital Partners$16M-Paragraf is a UK-based graphene technology spinout from the University of Cambridge founded in 2015, developing a manufacturing process for commercial quantities of graphene suited to computing, energy storage, water filtration, and products like a magnetic field sensor launched later in 2019. Parkwalk Advisors led the July 2019 funding round of £12.8m ($16m), with participation from Amadeus Capital Partners, IQ Capital, and University of Cambridge Enterprise, to increase headcount and build out the business. This followed a $4m round in May 2018 led by Cambridge Enterprise with the same co-investors. Co-founder and chairman Colin Humphreys, a University of Cambridge professor, holds an equity stake valued at $1.3m post-round. Other shareholders include the Marshall family of Marshall of Cambridge.
May 2018SeedUniversity of Cambridge Enterprise (lead); Parkwalk Advisors; IQ Capital; Amadeus Capital Partners; Martlet Capital$4M-Paragraf, a graphene-based electronics technology company spun out from the University of Cambridge, closed a £2.9 million seed funding round in May 2018. The round was led by Cambridge Enterprise (the University of Cambridge's commercialization arm) with participation from Parkwalk Advisors, Amadeus Capital Partners, IQ Capital Partners, and angel investors. The capital was allocated to support development of the company's first major products, specifically its graphene Hall Effect Sensor and a planned graphene-based biosensor. At the time of the seed round, Paragraf had completed development of a manufacturing facility, graphene layer production capabilities, and first device prototypes ahead of schedule. The company was transitioning from the research phase toward commercialization, with its initial product—a super-high sensitivity magnetic field detector—positioned to serve applications in aerospace, semiconductor, healthcare, automotive, scientific research, industrial, and quantum computing sectors.

Who has invested in Paragraf?

12 investors have backed Paragraf across its funding rounds, including Parkwalk Advisors, Amadeus Capital Partners, IQ Capital, University of Cambridge Enterprise, Molten Ventures and New Science Ventures.

Lead investors include Mubadala, New Science Ventures, Parkwalk Advisors and University of Cambridge Enterprise.


Paragraf Investors

Investors in Paragraf by funding rounds participated
InvestorHQRoundsRoleFirst check
Parkwalk AdvisorsUnited KingdomLondon5LeadMay 2018
IQ CapitalUnited KingdomLondon4ParticipantMay 2018
Amadeus Capital PartnersUnited KingdomCambridge4ParticipantMay 2018
University of Cambridge EnterpriseUnited KingdomUnited Kingdom3LeadMay 2018
Molten VenturesUnited KingdomLondon2ParticipantMar 2022
New Science VenturesUnited StatesGreenwich, CT2LeadMar 2022
British Patient CapitalUnited KingdomSheffield1ParticipantAug 2025
MubadalaUAEAbu Dhabi1LeadAug 2025
The Future FundUnited KingdomLondon1ParticipantMar 2022
Martlet CapitalUnited KingdomCambridge1ParticipantMay 2018

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Acquisitions by Paragraf

Paragraf has acquired 1 company to date.

Last acquisition by Paragraf was on May 2nd 2023. Paragraf acquired Cardea Bio for undisclosed valuation.


Latest Acquisitions by Paragraf

Cardea Bio
Description
Cardea Bio is a Pittsburgh-headquartered developer of graphene-based biology-gated transistors for biosensing applications. These Cardean transistors enable direct electrical detection of biological signals, supporting multi-omics data streaming for real-time analysis of DNA, proteins, and metabolites. The company manufactures chips at its facility in Pennsylvania and collaborates with innovation partners including academic labs and biotech firms. Founded in 2016, Cardea Bio supplies sensors for applications in drug discovery and personalized medicine, with deployments in over 50 partner laboratories worldwide.
HQ CountryUnited States
HQ City
San Diego, CA
Deal Date2 May 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Paragraf Competitors

Paragraf competitors include listed companies like Aspen Aerogels, LX Semicon, Magnera and Clearfield, and private ones like Suzhou Kerun New Materials and Cambium.

Public and private companies comparable to Paragraf
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Aspen AerogelsUnited StatesUnited StatesPublicly listed$271M($331M)$426M1.7x
Suzhou Kerun New MaterialsChinaSuzhouPrivate--$435M-
LX SemiconSouth KoreaSouth KoreaPublicly listed$1.2B$97M$424M-
MagneraUnited StatesUnited StatesPublicly listed$3.2B$181M$419M0.6x
ClearfieldUnited StatesUnited StatesPublicly listed$150M$15M$416M2.1x
CambiumUnited StatesMojave, CAPrivate$298M-$410M1.4x

Paragraf Public Comps

Paragraf is still privately-owned, but its public comps include Aspen Aerogels, Solum, LX Semicon, Magnera, TT Electronics, Clearfield, ECARX Group, Korea Electric Terminal, Luxfer Holdings and Methode Electronics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Aspen Aerogels$271M($331M)1.5x1.7x(1.2x)(96.1x)
Solum$1.2B$68M0.6x0.6x10.5x11.8x
LX Semicon$1.2B$97M0.1x-1.1x-
Magnera$3.2B$181M0.7x0.6x11.5x5.5x
TT Electronics$646M($19M)0.8x0.8x(26.2x)7.4x
Clearfield$150M$15M2.2x2.1x22.0x29.7x
ECARX Group$848M($23M)1.1x0.9x(40.7x)60.0x
Korea Electric Terminal$1.1B$158M0.2x0.2x1.6x1.8x

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Common questions about Paragraf

When was Paragraf founded?Paragraf was founded in 2015.
Where is Paragraf headquartered?Paragraf is headquartered in Cambridge, United Kingdom.
Is Paragraf publicly listed?No, Paragraf is a private, VC-backed company.
What is Paragraf's valuation?Paragraf was last valued at $430M in its Series C in August 2025.
How much funding has Paragraf raised?Paragraf has raised $139M across 5 funding rounds.
What was Paragraf's last funding round?Paragraf's last funding round was a $55M Series C in August 2025, led by Mubadala.
Who are Paragraf's investors?Paragraf's investors include Parkwalk Advisors, IQ Capital, Amadeus Capital Partners, University of Cambridge Enterprise, Molten Ventures, New Science Ventures, British Patient Capital, Mubadala, The Future Fund, Martlet Capital and 2 others.
Which companies are comparable to Paragraf?Companies comparable to Paragraf include Aspen Aerogels, Suzhou Kerun New Materials, LX Semicon, Magnera, Clearfield and Cambium.
How many companies has Paragraf acquired?Paragraf has acquired 1 company, including Cardea Bio.

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