PragmatIC Semiconductor secures $80 million funding

PragmatIC Semiconductor, a world leader in flexible electronics, is proud to announce that it has secured $80 million of Series C funding. This scale-up investment will be used to build a second FlexLogIC® fab in the North East of England, to meet the growing demand for ultra-low-cost flexible integrated circuits (FlexICs) for the Internet of Everything, and strengthening the position of the UK in its ambition to be a leading designer and manufacturer of next generation semiconductors.

“This successful Series C round is a testament to the potential for our technology to enable trillions of smart items and address key UN sustainable development goals,” said Scott White, CEO of PragmatIC Semiconductor. “Our FlexLogIC-002 fab will deliver significantly higher capacity than our first line, whilst still maintaining our signature ultra-low capex, fast production cycle time and minimal carbon footprint. In addition to supporting our continued commercial ramp, it provides a template for rolling out a distributed global network of FlexLogIC systems, offering a Fab-as-a-Service (FaaS) for dedicated production on major customer sites to enable efficient and secure semiconductor supply chains.”

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