Pragmat IC Raises $ 80 Million in Series C Round

“This Series C round proves the potential of our technology,” said CEO Scott White. “Our FlexLog IC-002 fab offers significantly higher capacity than the first line. In addition to supporting commercial lamps, it provides templates for deploying distributed global networks and protects the semiconductor supply chain. To provide a fab as a service for dedicated production on the customer site. “

The company has developed a series of low-cost flexible RFID ICs built on plastic substrates and foundry services.

According to PragmatIC, this year’s complexity has increased, demonstrating physically flexible microprocessors such as the 6502 and the minimalist Arm Cortex-M0 called Plastic Arm.

Both Arm and Pragmat IC are based in Cambridge, and Arm is participating in this funding round.

“Billions of everyday objects can benefit from being part of the Internet of Things, but to keep expanding sustainably, we take a new approach to embedding intelligence in everyday objects. We need to explore, “said Arm CTO Dipesh Patel. “We believe that flexible electronics can expand the scope and scope of what is possible today and are very likely to be creatively adopted by the Arm ecosystem.”

“This round is subscribed to by a group of industrial and individual investors with extensive experience in the semiconductor industry,” said Erik Langaker, Chairman of the Board of Directors of Pragmat IC. “With their help, the team will more than double in size in the next 12 months and can expand capacity to meet the growing demand for electronics in everyday objects.”

Shareholders of PragmatIC include Cambridge Innovation Capital, Arm and Avery Dennison.

Pragmat IC Raises $ 80 Million in Series C Round

Source link Pragmat IC Raises $ 80 Million in Series C Round

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