Pragmatic Semiconductor
Cambridge-based maker of FlexICs, thin-film flexible chips for NFC, smart packaging and other uses, with fabrication at Pragmatic Park in Durham. It announced a GBP 182 million Series D in December 2023.
Industry: Flexible integrated circuits | Location: Cambridge, United Kingdom | Founded: 2010 | Total Funding: USD 229.1M
About Pragmatic Semiconductor
Pragmatic Semiconductor makes flexible integrated circuits, called FlexICs, which are built with thin-film transistor technology on a flexible substrate. Its website describes the chips as ultra-thin, physically flexible and low in carbon footprint, with production cycles measured in days.
The company was founded in 2010 and has its headquarters on Cambridge Science Park, with a production facility in Sedgefield, County Durham, according to the Cambridge Independent in April 2023. Scott White, the founder and former chief executive, became executive director for strategic initiatives and stayed on the board when David Moore, previously chief strategy officer at Micron Technology, joined as chief executive on 19 April 2023. Erik Langaker was chairman as of December 2023. In September 2026 the company appointed Dr Paul James as executive vice president for manufacturing and operations.
Its website lists a FlexIC foundry service, a third-generation FlexIC design platform, inlay assembly services with partner offerings, and two near-field communication product lines, NFC Connect and NFC Protect. The company reports that its NFC portfolio won an RFID Product Gold Prize at the IOTE 2026 Innovation Awards.
On 6 December 2023 the company announced a Series D round with a first close of 162 million pounds, or 206 million dollars, co-led by M&G's Catalyst and the UK Infrastructure Bank. A limited second close with 20 million pounds already allocated brought the total to 182 million pounds, or 231 million dollars. Northern Gritstone, Latitude and MVolution Partners were new investors, and British Patient Capital, Cambridge Innovation Capital and Prosperity7 Ventures, the growth fund of Aramco Ventures, took part as existing investors. More than 70 percent of the money came from UK investors.
The company said it would use the funds to build the third and fourth fabrication lines at Pragmatic Park in Durham, which The Manufacturer described as the UK's first 300mm wafer production lines, and planned at least eight UK manufacturing lines over five years. TechScoop's July 2026 coverage of Cambridge Innovation Capital describes Pragmatic as a maker of low-cost flexible electronic chips for Internet of Things applications.
Leadership
- Scott White, Founder; Executive Director, Strategic Initiatives
- David Moore, Chief Executive Officer
- Erik Langaker, Chairman
- Paul James, Executive Vice President, Manufacturing and Operations