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Frontier IP provides additional funding to graphene-focused Cambridge spin-out

CamGraphIC was spun out of Cambridge University to develop key graphene-based products that are seen in the telecoms industry as key enablers for 5G technologies

Frontier IP Group PLC -

Frontier IP Group PLC (LON:FIPP) subscribed to £842,810 of loan notes from portfolio company CamGraPhIC as part of a £1.5mln loan designed to help accelerate growth.

CamGraPhIC was spun out of the University of Cambridge to develop graphene-based photonics for high-speed data and telecommunications, which are seen in the telecoms industry as key enablers for 5G technologies.

CamGraphIC, which is the second graphene spin-out from Cambridge University the intellectual property commercialisation company has backed, says it is working with partners to fabricate proof-of-concept sample devices. 

These loan notes, which comprise amounts that have been advanced by Frontier IP to CamGraphIC between 13 January and 24 June of this year, are interest-bearing, have a three-year term and have 100% warrant cover.

In total Frontier IP has advanced £1.05mln to the Cambridge company, including advanced amounts totalling £210,000 under previous loan agreements, and holds a 26.7% equity stake.

“Frontier IP believes CamGraphIC is making good progress both in executing its business plan and raising a larger equity funding round, having recently completed its first equity fundraising of £608,985 in June this year.

“The COVID-19 pandemic has highlighted the increasing need for robust data infrastructure and communications, emphasising the relevance of the company's technology,” Frontier said.

 

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