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- Paragraf
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Aug 2025 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2025 | Series C | Mubadala (lead); University of Cambridge Enterprise; Parkwalk Advisors; Molten Ventures; New Science Ventures; British Patient Capital; IQ Capital; Amadeus Capital Partners; Open Field Capital | $55M | $430M | Paragraf 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 2022 | Series B | New 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 2019 | Series A | Parkwalk 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 2019 | Series A | Parkwalk 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 2018 | Seed | University 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | May 2018 | ||
| 4 | Participant | May 2018 | ||
| 4 | Participant | May 2018 | ||
| 3 | Lead | May 2018 | ||
| 2 | Participant | Mar 2022 | ||
| 2 | Lead | Mar 2022 | ||
| 1 | Participant | Aug 2025 | ||
| 1 | Lead | Aug 2025 | ||
| 1 | Participant | Mar 2022 | ||
| 1 | Participant | May 2018 | ||
This data is available for Pro users. Sign up to see all 12 Paragraf investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions 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
| 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 Country | |
| HQ City | San Diego, CA |
| Deal Date | 2 May 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Paragraf acquisitions and their M&A valuation multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $271M | ($331M) | $426M | 1.7x | ||
| Private | - | - | $435M | - | ||
| Publicly listed | $1.2B | $97M | $424M | - | ||
| Publicly listed | $3.2B | $181M | $419M | 0.6x | ||
| Publicly listed | $150M | $15M | $416M | 2.1x | ||
| Private | $298M | - | $410M | 1.4x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $271M | ($331M) | 1.5x | 1.7x | (1.2x) | (96.1x) | |||
| $1.2B | $68M | 0.6x | 0.6x | 10.5x | 11.8x | |||
| $1.2B | $97M | 0.1x | - | 1.1x | - | |||
| $3.2B | $181M | 0.7x | 0.6x | 11.5x | 5.5x | |||
| $646M | ($19M) | 0.8x | 0.8x | (26.2x) | 7.4x | |||
| $150M | $15M | 2.2x | 2.1x | 22.0x | 29.7x | |||
| $848M | ($23M) | 1.1x | 0.9x | (40.7x) | 60.0x | |||
| $1.1B | $158M | 0.2x | 0.2x | 1.6x | 1.8x | |||
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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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