PragmatIC Semiconductor, a UK-based flexible electronics manufacturer backed by semiconductor technology manufacturer Arm Holdings and packaging materials producer Avery Dennison, has received $80m in series C funding from unnamed investors.
Founded in 2010 as Pragmatic Printing, PragmatIC produces ultra-thin and flexible electronic materials that can be incorporated into a wide range of mass market items to facilitate smart objects technology that would be able to engage with its environment.
The company most recently raised $17.2m from undisclosed investors in a September 2020 round that took its overall funding to $66.5m.
Arm and Avery Dennison both took part in an early 2019 round for PragmatIC sized at over $16.7m. It was led by the University of Cambridge-affiliated Cambridge Innovation Capital (CIC) and included undisclosed other investors.
Avery Dennison had previously led a $22m round for the company in 2016, participating alongside Arm and CIC. The two had combined to invest $8.1m in PragmatIC the year before.
