PureLifi | Integrated Graphene | Dimension
Wireless Communications firm PureLiFi has received £10 million from the Scottish National Investment Bank (SNIB) to help it develop its technology and open up new markets.
The Edinburgh based firm uses light to transmit data rather than conventional radio frequency systems such as WiFi and 5G.
PureLiFi CEO Alistair Banham said: “Our vision is for Scotland to be a recognised centre of excellence for LiFi. In the future customers from around the world will come to us for our innovative technology and leverage the wider photonics ecosystem that already exists here in Scotland.”
Jimmy Williamson, executive director at SNIB said: “We are excited to provide them with the growth capital that will help them reach the next stage in their development.”
Integrated Graphene invests £8m
Stirling-based Integrated Graphene is investing £8 million in the business after raising funds from existing investors to scale up its revolutionary 3D Graphene foam manufacturing process to meet surging global demand.
Graphene is said to be 100 times stronger than steel, very light, extremely flexible and a highly efficient conductor of electricity.
The company intends to double its existing footprint in Stirling and treble its headcount to 100 over the next three years.
In 2020 the company raised £3.1m from investors and is seeking to carve out a slice of a worldwide graphene market estimated to be worth $6 billion by 2030.
Dimension adds warehouse space
E-commerce business Dimension has secured £522,500 from HSBC UK to purchase additional warehouse space in East Kilbride after demand for its services grew significantly during the pandemic. It currently rents property at Glenburn Road.
The company has seen its payroll more than double from 25 to 52 as a result and this figure is expected to double again within the next 12 months.
Graeme Harrowell, director at Dimensions, said: “The investment will enable us to significantly increase storage and distribution capacity for our clients, therefore helping us to increase turnover and profitability. We cannot wait to see where this takes us.”