Pragmatic Semiconductor Raises £182M in Funding
Summary
Pragmatic Semiconductor, a Cambridge, UK-based world leader in manufacturing flexible integrated circuits, completed a first close of its Series D funding round, securing an investment of £162m ($206m). Led by David Moore, CEO, Pragmatic is a world leader in flexible integrated circuit technology that makes it quick and easy to embed intelligence almost anywhere. Over the next 5 years, the company anticipates building at least 8 manufacturing lines in the UK, creating over 500 highly skilled jobs in the North East and Cambridge. Each line is capable of producing billions of chips that enable countless applications across multiple sectors including consumer, industrial, healthcare and beyond. Of particular interest is providing item level intelligence to trillions of fast-moving consumer goods via smart packaging that will improve reuse and recycling, transforming waste management, and enabling a circular economy.