Pragmatic Semiconductor secures £28.2m Series C investment from backers including British Patient Capital
The financing round was backed by investors including British Patient Capital and In-Q-Tel to support expansion plans.
Share allotment filed at Companies House
Pragmatic Semiconductor manufactures ultra thin and flexible integrated circuits that embed intelligence into everyday objects. The company provides scalable alternatives to traditional silicon chips for diverse applications.
Pragmatic Semiconductor has raised £28.2m in additional Series C funding from investors including British Patient Capital. The capital will support the company as it expands its operations, including the construction of a second fabrication line and a new site in Durham.
The oversubscribed round brings total capital raised in the Series C phase to $125m. Backers in the latest tranche also include In-Q-TEl and Prosperity7 Ventures, highlighting international interest in the firm's flexible semiconductor technology.
Investor perspective
"Pragmatic is another great example of a UK company which has developed and commercialised world-leading technology from a UK base. We are delighted to be investing in the further growth of this homegrown semiconductor manufacturing business via Future Fund: Breakthrough, our dedicated deeptech fund which is investing in some of the country's most innovative and dynamic businesses."
Catherine Lewis La Torre
CEO, British Patient Capital
Use of funds
- 01Expand into international markets
Investors
Catherine Lewis La Torre
British Patient Capital
In-Q-Tel
Prosperity7 Ventures
North East Development Fund
Finance Durham Fund
Categories
About the company
Pragmatic Semiconductor
Pragmatic Semiconductor manufactures flexible integrated circuits that embed intelligence into everyday objects.