Abu Dhabi sovereign wealth fund Mubadala Investment Company is investing $35 million in British technology company Paragraf.

The investment is part of a $55 million Series C funding round for the UK firm that produces graphene-based components for electronics.

With the capital, Mubadala earns a 12.8% stake in Paragraf, according to a notice on a UK government website.

The total proceeds of the fundraising will be used to scale Paragraf's manufacturing capabilities and increase production output, enabling a mass adoption of graphene-based electronics.

"This new funding will enable us to expand production of faster, more energy-efficient technologies to the scale required by major commercial opportunities," said Simon Thomas, Co-Founder and CEO of Paragraf.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com