Versarien PLC (AIM:VRS, OTC:VRSRF) said it has raised £318,000 through a placing of 10.6mln shares at a price of 3p each.
The advanced materials engineering group said the proceeds will be used to continue commercialisation work in the construction and leisure sectors, as well as for general operational and working capital purposes.
In a statement, Versarien chief financial officer Chris Leigh said: "The funds raised through the placing will allow us to continue to progress the opportunities that we are seeing, particularly in our most advanced project areas in the construction and textile sectors.
"Having streamlined the business and with a renewed focus, we continue to believe the company has significant potential. We look forward to reporting on our progress in due course."
Versarian specialises in finding commercialisation opportunities for the wonder material graphene.