Pragmatic Semiconductor, a leading flexible semiconductor manufacturer, has raised £162 million ($206 million) in its Series D funding round. The investment was co-led by M&G’s Catalyst Fund and UK Infrastructure Bank, with participation from existing investors such as British Patient Capital, Cambridge Innovation Capital, and Prosperity7 Ventures, as well as new investors including Latitude and MVolution Partners, and Northern Gritstone.
Pragmatic Semiconductor has developed a technology where thin-film semiconductors are used to create flexible circuits and chips without relying on the traditional silicon method. This technology is a great alternative to the existing silicon-based chips and circuits used in electronics and other products. These flexible integrated curcuits are ultra thin and very cheap in comparison to the existing products and can be embedded into almost any type of product. One great application where these circuits can be used is RFID (radio frequency identification) and NFCs (near-field communication).
This investment will enable the company to accelerate expansion plans in the UK and globally to meet the growing demand for its innovative products. The company is also anticipating building at least eight manufacturing lines in the UK and creating over 500 highly skilled jobs over the next five years.
The company’s CEO is David Moore, and it is headquartered in Cambridge, Cambridgeshire, United Kingdom.