Over £180 Million in VC Funding Received by Pragmatic

18 December 2023

Pioneering producer of flexible ICs for IoT usage, Pragmatic Semiconductor has garnered £162 million in Series D investment, with a further £20 million also being confirmed as allocated.

The main contributors to this funding are M&G’s Catalyst and UK Infrastructure Bank. Others involved include Northern Gritstone, Latitude and MVolution Partners, plus existing venture capitalist (VC) investors like British Patient Capital, Cambridge Innovation Capital and Prosperity7 Ventures. The financing will allow the company to establish the 3rd and 4th fabrication lines at its Durham facility, thereby markedly boosting production output capabilities. 

According to Pragmatic’s CEO, David Moore; “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 customisation and rapid production cycles, as well as the lower environmental footprint compared to silicon. Scaling our manufacturing capacity on the UK's first ever 300mm wafer production lines at our site in Durham will enable us to deliver hundreds of billions of chips to customers worldwide over the coming decade.” 

“We also see demand from customers for our unique fab-as-a-service deployment model. This is a modular semiconductor manufacturing approach that provides customers with access to an efficient, localised and secure supply of chips through a dedicated production facility wherever they need it,” he adds. 

Contact Details and Archive...

Print this page | E-mail this page