Graphene equipment firm uses crowdsourcing to raise funds

June 08, 2020 // By Peter Clarke
Graphene equipment firm raises crowdsource funds
PlanarTech Ltd. (Cambridge, England) has raised £425,000 in equity funding through a crowdsourcing website called Seedrs.

PlanarTech was founded in 2014 and provides chemical vapor deposition (CVD) equipment for the growth and characterization of graphene and other emerging 2D materials. The company sold 65 units that are in the field and reportedly has cumulative sales over the period 2014 to 2019 of £5 million.

Historically PlanarTech's sales have been for R&D with universities, government and corporate research labs but the company is looking to scale up for commercial-scale delivery of units.

The use of the funds has been assigned on the following basis, according to Seedrs: 45 percent working capital; 30 percent for capital expenditure; 15 percent application R&D; 10 percent on additional staffing.

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