UK approves Mubadala’s investment in Paragraf

GLOBAL: The UK government has approved the US$55 million Series C funding round by UAE sovereign fund Mubadala, which is taking up a 12.8% stake in graphene-based chip manufacturer Paragraf. Mubadala, which often raises funds via significant Sukuk issuances, had its purchase reviewed under UK’s national security assessment laws. The funding will boost Paragraf’s mass production capabilities, given that graphene’s unique properties enable devices to perform faster, more accurately and with lower energy consumption than silicon-based alternatives. This is especially in extreme environments, from cryogenic systems in quantum computing to high-temperature and high-radiation industrial applications.