Pragmatic Semiconductor has raised 182 million pounds (231 million dollars) to expand production of flexible electronics. The Cambridge-based company intends to scale up its 300mm wafer manufacturing line as well as initiate construction of another two new lines. It anticipates building at least eight manufacturing lines over the next five years, each capable of churning out billions of chips every year.
Founded in 2010, Pragmatic touts its FlexICs to provide item-level intelligence to fast-moving consumer goods. This smart packaging will improve reuse and recycling, transform waste management and enable a circular economy, the company claims. Advantages of flexible electronics over its silicon equivalent include rapid cycle times, low cost and lower environmental impact. Other use cases include wearables, sensors and flexible controllers.
“This successful series D round is a clear testament to the massive opportunity for our innovative technology to enable item-level intelligence in virtually any object on the planet. Our global customers value our ultra-thin and flexible form factor, our breakthrough low cost of customization and rapid production cycles, as well as the lower environmental footprint compared to silicon,” comments CEO David Moore of Pragmatic.