Pragmatic Semiconductor, a Cambridge, UK-based flexible electronics company, raised $35M in additional funding.
This brings the total raised in its Series C round to $125M.
Backers included British Patient Capital and In-Q-Tel with participation from Prosperity7 Ventures, the North East Development Capital Fund and the Finance Durham Fund.
The company intends to use the funds to accelerate and expand its growth plans.
Led by CEO Scott White, Pragmatic Semiconductor is a provider of a semiconductor innovation, creating integrated circuits (‘electronic chips’). Its chip is produced without silicon, using thin-film semiconductors to create flexible integrated circuits that are thinner than a human hair, and are significantly cheaper and faster to produce than silicon chips. This provides an alternative for many mainstream electronics applications, as well as enabling new applications not possible with silicon. Its chips can be embedded into almost anything, bringing connectivity and intelligence to everyday objects. Example applications include radio frequency identification (RFID) and near field communications (NFC) giving objects unique digital identities as well as enabling objects to interact with their environment.
FinSMEs
14/12/2022