Pragmatic produces ultra-thin, flexible integrated circuits using thin-film semiconductors as a silicon-free alternative, enabling chips thinner than a human hair. Its manufacturing approach is significantly cheaper and faster than silicon chips and supports embedding connectivity and intelligence into everyday objects. Example use cases cited include RFID and NFC to give objects unique digital identities and environmental interaction. The company emphasizes a low carbon footprint, rapid production cycles, and the potential to localize semiconductor manufacturing and support net-zero product lifecycles. Pragmatic is expanding capacity with a second fabrication line to enable 5x production and plans to break ground on a new 15-acre production site in Durham while doubling its Cambridge footprint (with an option to double again). The firm says recent investor support is a vote of confidence in its technology and business traction. PragmatIC Semiconductor develops ultra-low-cost flexible electronics, including its ConnectIC family of flexible integrated circuits (FlexICs) and a FlexIC Foundry offering for customers and designers. Its FlexLogIC production system is a highly scalable manufacturing model that enables cost-effective high-volume production with much lower capital and operating cost than traditional silicon fabs. PragmatIC’s FlexICs target mass-market applications across consumer goods, games, retail, pharmaceutical and security, enabling new classes of smart, disposable or ubiquitous devices. The company plans a second FlexLogIC fabrication line in the North East of England to expand capacity and meet rapidly growing demand. That expansion is supported by $80 million in funding and the company expects to more than double its team over the next 12 months. PragmatIC is headquartered in Cambridge, UK, with manufacturing operations in the North East. Shareholders include Cambridge Innovation Capital, Arm, Avery Dennison and a select group of individual investors. PragmatIC's core product line comprises FlexICs, including the newly shipping ConnectIC family (PR1101 and PR1102) for closed RFID systems. The ConnectICs are ultra-thin, flexible ICs designed to be embedded into substrates such as paper and plastic and to work with single-layer antennas to reduce inlay complexity and cost. PragmatIC's platform is built on a portfolio of patented technologies aimed at enabling smart packaging for high-volume fast-moving consumer goods and other mass-market applications. The company has begun shipping ConnectIC products to partners and expects rapid expansion as global brand customers pursue traceability and interactivity. Management says the low-cost positioning addresses previous barriers that limited smart packaging to higher-value items. The recent funding is intended to support increased production of the FlexICs.

Total raised

$132M

Funding rounds

3

Latest round

Series C

Latest activity

Dec 2022