iGii raises £22.7m led by Scottish National Investment Bank with PXN Ventures
This article covers iGii, the Stirling-based greentech startup, which has raised £22.7m in a series B funding round to accelerate commercialisation and scale production of Gii, its proprietary three-dimensional porous pure carbon nanomaterial. The development aims to support manufacturers and advance the UK deep-tech materials ecosystem by moving the technology from laboratory breakthrough to industrial supply.
iGii, the Stirling-based greentech startup, has raised £22.7m in a series B funding round to accelerate commercialisation and scale production of Gii, its proprietary three-dimensional porous pure carbon nanomaterial. The package combines equity and public support and will be used to deepen customer engagements, speed technology development and expand manufacturing-led deployments as the company moves from laboratory breakthrough to industrial supply.
Why it matters
Materials breakthroughs can reshape manufacturing chains and product capabilities. iGii’s Gii is positioned as an engineered carbon platform that can be adapted for sensing, diagnostics, energy storage and other industrial uses without relying on traditional mined or compounded feedstocks. That promise matters now as manufacturers face supply chain concentration, geopolitical pressure and demands for higher performance and resilience from components and materials.
The financing is significant less because of headline sums and more because it pairs private capital with public backing to help a deep-technology effort bridge the long, capital-intensive path from research to production-ready supply.
Inside the product
Gii is a 3D porous carbon architecture grown at room temperature through compact, automated processes, which iGii says are designed to deliver consistent material at scale. The company reports it has developed the engineering and manufacturing systems necessary to integrate Gii into real products and to supply the volumes that large manufacturers require.
Rather than a one-to-one replacement for existing materials, iGii positions Gii as a platform that can be tuned for different functional needs. Current application areas under development include sensors, diagnostics, energy storage and broader industrial applications. Over the next 12 to 24 months the company plans to move several customer engagements from evaluation into product integration and longer-term supply agreements.
Operationally, iGii is preparing to grow its team: it currently employs 55 integrators, including 17 PhDs, and expects to approach 70 staff by the end of the year. The business marks 2026 as its tenth year of development, and the new funding is intended to accelerate commercial execution rather than early-stage research.
Who are the investors?
The £22.7m package comprises an £11.7m Series B equity round alongside £11m of support from Scottish Enterprise. The equity round is led by the Scottish National Investment Bank, with further participation from PXN Ventures and Archangels.
The funding mix reflects a common approach for deep-tech companies where patient, public or mission-aligned capital is blended with private investment to de-risk scaling of manufacturing processes and customer adoption. iGii says the capital will be used to expand commercial engagements with Tier 1 manufacturers, accelerate product development across its platforms and scale manufacturing capacity.
In the announcement, Alastair McMillen, Associate Director – Sustainable Places at 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.
In the announcement, Aidan MacMillan, Investment Director at 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.
In the announcement, Niki McKenzie, Joint Managing Director at 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.
In the announcement, Adrian Gillespie, Chief Executive at Scottish Enterprise, 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.
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Founder perspective
In the announcement, Jean-Christophe Granier, Chief Executive Officer at 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.
Granier’s framing emphasises industrial partnership and manufacturing-led deployment rather than product claims. The near-term focus described by the company is on translating pilot and evaluation projects into sustained supply contracts with large customers.
The bigger picture
iGii’s raise is another example of the funding structures increasingly used for deep-tech materials companies: blended capital that combines patient public support with private investors to underwrite the step from lab to factory. For the UK and Scotland specifically, backing novel materials that can be produced through resilient processes supports wider industrial strategy aims around supply chain security and green manufacturing.
The deal also highlights continued appetite for greentech-related materials innovation in the UK. If iGii can convert its pipeline of evaluations with Tier 1 customers into recurring commercial supply, it will strengthen Scotland’s position in advanced materials and provide a template for how public and private capital can cooperate to industrialise deep science across Europe.
They've invested in iGii
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