PragmatIC Semiconductor raises $80 million in funding
PragmatIC Semiconductor, a company dealing in flexible electronics, has secured USD 80 million of Series C funding. The company says it will use the funds to add to its capacity in the UK.
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, a press release reads. “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,” says Scott White, CEO of PragmatIC Semiconductor. PragmatIC’s development over the past few years has seen the launch of its flagship ConnectIC product line of ultra-low-cost RFID FlexICs, as well as its FlexIC Foundry service. This year it has demonstrated an order-of-magnitude improvement in complexity and compute capability for non-silicon chips by producing flexible microprocessors. These include the 6502 and PlasticArm, an ultra-minimalist Arm Cortex-M0 based system-on-a-chip. PlasticArm is the result of many years of collaboration between the two companies, a partnership that is set to continue long into the future with semiconductor IP leader Arm participating in this funding round. “Billions of everyday objects could benefit from being part of the Internet of Things, but to continue to scale sustainably we need to explore new approaches for embedding intelligence into everyday objects,” adds Dipesh Patel, chief technology officer at Arm. “Flexible electronics can extend the range and scope of what is possible today and we see massive potential for it to be creatively adopted by the Arm ecosystem, leading to innovation with global impact.”