Cambridge Innovation Capital-backed flexible electronics manufacturer PragmatIC Semiconductor has raised the capital from undisclosed investors.

PragmatIC Semiconductor, a UK-based flexible electronics manufacturer backed by patient capital fund Cambridge Innovation Capital (CIC), 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. CIC led a $16.7m round in 2019, when packaging materials producer Avery Dennison, semiconductor technology supplier Arm Holdings and unnamed new and existing backers also took part. CIC, Arm and Avery Dennison previously threw their weight behind a $22m round for Pragmatic in 2016, the year after PragmatIC had closed a $8.1m round led by CIC and featuring Arm. – A version of this article first appeared on our sister site, Global Corporate Venturing.

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.