Pragmatic Semiconductor
Pragmatic Semiconductor is developing flexible integrated circuits sustainably, opening up new possibilities for low-cost electronics, helping extend semiconductor technology into applications where conventional silicon is too expensive or rigid.
Pragmatic is a UK semiconductor company that claims to do things differently.
The company is manufacturing ultra-thin and flexible chips that bend and flex, opening up a wide-range of applications from healthcare to consumer goods and industry.
Formed in 2010, Pragmatic has offices in Cambridge and a flagship manufacturing facility, Pragmatic Park in County Durham, home to the UK's first 300mm flexible semiconductor fabrication line.
Going where other semiconductors can't, Pragmatic's chips could potentially make their way into smart glasses and rings, food and drink packaging, clothing, and high-value goods to help tamper detection and fraud prevention.
A flexible approach
Pragmatic's proprietary chips, known as FlexICs, use indium gallium zinc oxide (IGZO) thin-film transistor (TFT) technology on a flexible substrate.
The FlexICs are optimised for functional density and cost efficiency, adding 'just enough' intelligence to everyday objects to deliver contextual consumer engagement, product and packaging authentication, and product tamper evidence.
Rather than competing directly in highly commoditised markets, Pragmatic's distinctive technology platform is gathering intelligence from physical objects and opening up new opportunities in physical AI.
It also addresses global challenges around connectivity, traceability and sustainability, demonstrating how UK companies can lead internationally through differentiation, innovation and technical excellence.
"What we've developed at Pragmatic Semiconductor is a flexible integrated circuit technology to put electronics where they haven't gone before.
"We use standard manufacturing equipment that we adapt for different types of materials that are compatible with our flexible substrate.
"That combination delivers very low carbon footprint, uses much less water, fewer chemicals, and it allows us to do a very fast manufacturing cycle."
Richard Price, CTO and co-founder, Pragmatic Semiconductor
£300 million
Of funding raised to date
2010
Founded in Cambridge
>70%
Of investment has come from the UK
Sustainable manufacturing
Due to a simpler manufacturing process, Pragmatic's production methods use less energy, less water and fewer chemicals.
Combined with short cycle times and the use of renewable energy, this significantly drives down the carbon impact of Pragmatic's processes.
Pragmatic's fabs are modular by design, enabling them to scale up to nine fabrication lines, each capable of producing billions of chips per year, at their manufacturing site at Pragmatic Park in Durham.
Scaling success
Pragmatic's success highlights several of the UK's strengths in semiconductors: deep scientific expertise, innovative thinking, advanced manufacturing capability and the ability to create globally relevant technologies.
This is exemplified by Pragmatic's success in attracting patient, long-term investment to commercialise a fundamentally new semiconductor technology and build manufacturing capacity in the UK.
Since its founding in 2010, the company has raised more than £300 million in funding, attracting a diverse group of strategic corporate, venture capital and institutional investors.
In 2023, Pragmatic raised a £182 million Series D round—the largest venture funding round ever raised by a European semiconductor manufacturer—enabling expansion into Pragmatic Park
This investment journey demonstrates that the UK can not only generate world-class semiconductor innovation but also attract the patient capital needed to commercialise breakthrough technologies and build advanced manufacturing capability at scale.
"The UK is a great place to do business.
"Not only do we have a great science base, but people also want to come and live here.
"We're able to attract people from all over the world who want to come and work for us."
Richard Price, CTO and co-founder, Pragmatic Semiconductor
Pragmatic's road to success
Pragmatic begins journey
Pragmatic is founded by Scott White and Richard Price
$8m Series A funding round
Pragmatic raises $8 million in its first funding round, which included investments from Arm and Cambridge Innovation Capital.
$24 million Series B investment round
$24 million raised in Series B funding round, led by Avery Denison
First 200mm fab
Pragmatic opens its first 200mm dedicated flexible semiconductor fab in County Durham
$125 million Series C round closed
Pragmatic closes $125 million Series C round, with new investment from British Patient Capital, In-Q-Tel, Prosperity7 Ventures, North East Development Capital Fund, and the Finance Durham Fund.
$231 million Series D funding
Pragmatic secures $231 million of Series D funding - Europe's largest ever semiconductor venture funding round
Pragmatic opens 300mm fab
Pragmatic opens the UK's first 300mm semiconductor fabrication facility at Pragmatic Park in County Durham