PragmatIC Printing Ltd, a Cambridge, UK-based provider of flexible electronics, secured £18m in funding.
Backers included Avery Dennison, a Fortune 500 company with global positions in labelling and packaging materials as well as radio frequency identification (RFID), which joined existing shareholders Cambridge Innovation Capital (CIC) and ARM.
The company intends to use the funds to accelerate development and commercialization of its flexible integrated circuits (flexICs).
Led by Scott White, Chief Executive Officer, PragmatIC provides flexible integrated circuits (flexICs) designed to fit naturally into the supply chain for a wide range of new applications, from intelligent packaging of fast-moving consumer goods, to wireless traceability of documents for security and identification.
Customers include large multi-national customers across a number of sectors, including consumer goods, packaging, security printing and mainstream electronics.
The company has a production facility based at the National Centre for Printable Electronics in Sedgefield.