PragmatIC Printing Ltd, a world leader in flexible electronics, has just completed a £5.4 million funding round led by Cambridge Innovation Capital (CIC) with support from ARM Holdings and existing shareholders to scale-up its operations. This strategic funding supports production of flexible integrated circuits for the ‘Internet of Things’.
PragmatIC secures major investment from CIC and ARM
Ultra-thin and low-cost flexible microcircuits, incorporated into mass-market objects and packaging, are poised to revolutionise everyday living by providing consumers with real-time information about every aspect of their environment. These devices are the work of PragmatIC Printing Ltd.
Scott White, Chief Executive Officer at PragmatIC, explains: “We have become accustomed to silicon chips being incorporated into high-value documents such as passports and credit cards, but there are limitations to how robustly and cost-effectively this can be done. Our technology platform creates a microcircuit thinner than a human hair that can be easily embedded in any flexible surface.”
The applications for PragmatIC’s devices, which are cost-effective enough to be incorporated into disposable items, are vast: from intelligent packaging of fast-moving consumer goods, to wireless traceability of documents for security and identification.
PragmatIC, which is headquartered in Cambridge and has a production facility based at the National Centre for Printable Electronics in Sedgefield, is using the funding to hire more staff and to enable the scale-up of its production capacity to 100 million flexible integrated circuits later this year.
Victor Christou, Senior Investment Director of CIC, which provides long-term growth funding for life science and technology companies in the Cambridge Cluster, said: “PragmatIC’s flexible electronics offers the most compelling and cost effective product I’ve seen in the 20 years I’ve been involved in this industry. The company has already demonstrated a scalable and cost-effective manufacturing process. With CIC’s support, the company can now meet the pent-up demand from customers for higher volume commercial production.”
The funding also allows PragmatIC to broaden its circuit design activities, including applications such as sensors, processors and wireless communications: the essential building blocks to enable the emerging Internet of Things.
“ARM is committed to identifying innovative and disruptive new technology platforms,” said Mike Muller, Chief Technology Officer of ARM. “We are supporting PragmatIC as they have the potential to dramatically extend the range of form factors and economics of embedded intelligence. We see particularly compelling possibilities to embed connectivity and computational power in everyday objects at extremely low cost.”
The funding comes alongside a growing revenue base from large multi-national customers across a number of sectors, including consumer goods, security printing and wearable electronics. While most of these relationships remain confidential, development projects with industry leaders such as Procter and Gamble, De La Rue plc and Hallmark have been previously announced.
Scott White adds: “We are hugely excited by both the additional resources and the strategic contribution that will result from this investment by CIC and ARM. We look forward to further developing our world-leading technology platform and blue-chip customer base through the course of 2015.”
About PragmatIC Printing Ltd www.pragmaticprinting.com
PragmatIC enables printed electronic logic circuits that introduce intelligence and interactivity into a wide range of products and applications, in form factors that are not possible using silicon chips. Our intellectual property covers unique device architectures, process techniques, and circuit designs that enable flexible imprinted logic circuits with compact footprint, high performance and low cost.
PragmatIC operates a pilot line at the UK’s National Centre for Printable Electronics, part of the Centre for Process Innovation (CPI). The pilot line supports customer prototyping activities as well as commercial production for deployment of new product concepts. We also license our technology for higher volume production.
For more information please contact:
Scott White, Chief Executive Officer, PragmatIC Printing Ltd
Tel: +44 1223 421272 or email: email@example.com
About Cambridge Innovation Capital www.cambridgeinnovationcapital.com
Cambridge Innovation Capital (“CIC”) was established with initial funding from long-term institutional and strategic investors including Invesco Perpetual, Lansdowne Partners and the University of Cambridge Endowment Fund.
CIC invests in high growth life science and technology companies arising from the University of Cambridge and the wider Cambridge Cluster. With close ties to the University, active angel groups and the entrepreneurial community, our mission is to be one of the leading venture capital investors in the vibrant Cambridge Cluster.
Where needed, CIC’s investment strategy backed by a permanent capital structure allows it to provide long-term financial support to portfolio companies.
ARM is at the heart of the world's most advanced digital products. Our technology enables the creation of new markets and transformation of industries and society. We design scalable, energy efficient-processors and related technologies to deliver the intelligence in applications ranging from sensors to servers, including smartphones, tablets, enterprise infrastructure and the Internet of Things.
Our innovative technology is licensed by ARM Partners who have shipped more than 60 billion System on Chip (SoCs) containing our intellectual property since the company began in 1990. Together with our Connected Community, we are breaking down barriers to innovation for developers, designers and engineers, ensuring a fast, reliable route to market for leading electronics companies.
Rachel Holdsworth/Anna Masefield, Holdsworth Associates PR
Tel: +44 1954 202789 or email: firstname.lastname@example.org
PragmatIC is a world leader in ultra-low-cost flexible electronics. Our unique technology platform enables innovators to create novel solutions to everyday problems that are beyond the scope of conventional electronics. Our ConnectIC® family of flexible integrated circuits (FlexICs) are thinner than a human hair and extend proven applications such as RFID and NFC into mass market use cases, enabling the potential for trillions of smart objects that can engage with consumers and their environments. Our novel, differentiated products are being adopted by a growing base of global companies across diverse markets, including consumer goods, games, retail, pharmaceutical and security. Alternatively, designers can create their own application-specific flexible devices using our FlexIC Foundry™ offering at a fraction of the cost and time required for traditional silicon circuits, opening up multiple new markets beyond RFID. These FlexICs are manufactured on our revolutionary FlexLogIC® production system, a highly scalable manufacturing model for cost-effective high-volume production, achieved with orders of magnitude less capital investment and operating cost compared to a traditional silicon IC fab. PragmatIC is headquartered in Cambridge, UK, with our first billion-unit production facility in Sedgefield. Shareholders include Cambridge Innovation Capital, Arm and Avery Dennison.