Product Reports Resources Pricing Login Book a demo
COMPANY PROFILE

Pragmatic

Explore full profile

Ultra-thin, low-cost, flexible integrated circuits manufacturing.

Milton, United KingdomFounded 2010Semiconductors
Valuation $500M–1B Latest valuation · 2023
Revenue $1–10M Latest reported FY
Headcount 100–500 Current team size
Total funding $100–500M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Pragmatic and the history behind them.

About Pragmatic

Pragmatic Semiconductor is a UK-based company specializing in the design and manufacturing of ultra-thin, physically flexible microchips called FlexICs. Founded in 2010 by serial entrepreneur Scott White and academic Richard Price, the company was established to create cost-effective, scalable alternatives to traditional silicon-based chips. The initial technology stemmed from work at the University of Manchester, and the company is now headquartered in Cambridge, with manufacturing operations in County Durham. Pragmatic's core technology revolves around thin-film transistors (TFTs) grown on a flexible substrate, a process that is significantly less resource-intensive than conventional silicon semiconductor manufacturing. This method uses lower temperatures and fewer harmful chemicals, resulting in a much smaller carbon footprint and a production cycle of days rather than months. In 2022, co-founder Scott White transitioned to an executive director role, and David Moore, a semiconductor industry veteran with extensive experience at Intel and Micron, was appointed CEO. Under Moore's leadership, Pragmatic secured a landmark Series D funding round of £182 million in 2023, the largest ever for a European semiconductor venture, to expand its UK manufacturing capacity. The company operates with an integrated business model, offering both its own product portfolio and foundry services. Its business-to-business (B2B) model includes three main offerings: standard FlexIC products like the Pragmatic NFC Connect line for RFID applications, the FlexIC Foundry® service for custom designs, and the FlexLogIC® production system for scalable manufacturing. This allows clients to develop and test custom application-specific FlexICs in weeks. Pragmatic serves a wide array of markets, including consumer goods, healthcare, pharmaceuticals, retail, gaming, and security. A primary application is adding item-level intelligence to trillions of everyday objects for smart packaging, which can improve supply chains, enable reuse and recycling, and enhance consumer engagement through NFC technology. Pragmatic's manufacturing facility, Pragmatic Park in Durham, is the UK's first 300mm wafer fab and is housed in a repurposed ceramic pipe factory. The company plans to operate at least eight manufacturing lines in the UK, significantly increasing the nation's semiconductor production volume. Collaborations with companies like Arm and Avery Dennison have been key to its growth. For instance, a 2020 collaboration with Arm resulted in the first fully functional non-silicon Arm processor. Keywords: Flexible integrated circuits, FlexICs, thin-film transistor technology, semiconductor manufacturing, low-cost electronics, sustainable semiconductors, fab-as-a-service, item-level intelligence, RFID, NFC connectivity, smart packaging, wearable sensors, flexible electronics, custom ASIC design, Pragmatic Park, David Moore, Scott White, Richard Price, thin-film semiconductors, high-volume manufacturing, low-carbon footprint, circular economy, supply chain intelligence, embedded electronics, electronics in everything, consumer electronics, industrial applications, healthcare devices, internet of things, IoT, flexible microchips, semiconductor foundry, UK semiconductor, Cambridge tech, advanced materials, process design kit, electronic design automation, non-silicon processor, asset tracking, brand protection, consumer engagement, digital authentication.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2010
Headquarters
Milton, United Kingdom
Employees
329
Open positions
None listed
Dealroom signal
71.3/100
Sector
Semiconductors, Chips, Industry 4.0, Spinout, Industrial Technology, Rumoured $1B, Semiconductor Designers and Manufacturers, Horizon Europe, DT and LS, UKis Digital and technologies
Technology
Hardware, Deep Tech, IoT InternetOfThings
Business model
Manufacturing
Client focus
b2b

Latest news

Press, funding announcements and product moves mentioning Pragmatic.

See all news

Funding history

10 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES DOther financing Dec 2023 $214M $855M Cambridge Innovation Capital · Latitude · Prosperity7 Ventures · MVolution Partners
SERIES COther financing Dec 2022 $35M $400M In-Q-Tel · Prosperity7 Ventures · Maven Capital Partners · British Patient Capital
Showing the latest 2 of 10 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

Company filings, research estimates and Dealroom dataBook a demo for the full financial model →

Growth signals

Pragmatic website traffic

Latest recorded traffic for Pragmatic is 16K monthly website visits, down 23.8% over the last three months. Pragmatic's team declined 1.5% over the past year.

Latest monthly visits16K 3-month web change-23.8% 1-year team growth-1.5%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investors

16 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed2 investors entered at this stage

  • European Innovation Council
  • UK Research and Innovation

Series A3 investors entered at this stage

  • Cambridge Innovation Capital
  • ARM
  • Avery Dennison

Series B and later10 investors entered at this stage

  • Erik Langaker
  • In-Q-Tel
  • Prosperity7 Ventures
  • Maven Capital Partners
  • British Patient Capital
  • M&G
  • National Wealth Fund
  • Latitude
  • MVolution Partners
  • Northern Gritstone

Other known investors1 additional known investor

  • The University of Manchester
Team profiled 16 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 5 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
7 countries with
team presence
🇬🇧 United Kingdom97.3%
🇺🇸 United States0.8%
🇨🇭 Switzerland0.4%
🇨🇳 China0.4%
🇵🇭 Philippines0.4%
Top 5 of 7 shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Pragmatic on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

See Pragmatic’s full profile on Dealroom

Request a free trial to see the complete deal history, financials, people graph and growth signals.

Takes under a minute. Already use Dealroom? Log in.