Withers tech advises on £8m seed investment into Concretene
26 January 2023 | Applicable law: England and Wales | 5 minute read
The Withers tech team has advised on an £8m seed investment into Concretene, a product developed by Withers tech client, Nationwide Engineering Research and Development, in partnership with the Graphene Engineering Innovation Centre at The University of Manchester.
The seed financing was led by leading European venture capital fund, LocalGlobe.
Concretene is a graphene-enhanced material that has been developed as a stronger and more sustainable product than traditional concrete. It acts similarly to normal concrete from the perspective of construction firms, meaning the implementation of Concretene is non-disruptive to the industry.
London partner Iain Cockburn, comments: "We are very grateful to have been given the opportunity to work with the phenomenal team at Nationwide Engineering Research and Development on this financing, which will allow for the further development of this new technology, which has the potential to transform the construction industry as it looks to build a more sustainable future."
Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers. The Withers tech team was led by Iain, working alongside Richard Penfold (Partner, IP and Commercial), Yeji Lee (Associate, Corporate) and Richard Stebbing (Associate, IP and Commercial).