Finance Durham Fund
North East Development Capital Fund
Pragmatic Semiconductor is a world leader in ultra-low-cost flexible electronics. Its flexible integrated circuits are thinner than a human hair and can be invisibly embedded in objects, enabling innovators to create novel solutions to everyday problems that are not practical with conventional electronics. Its patented technology is being used by a growing base of global companies across diverse markets, including consumer goods, retail, healthcare, pharmaceutical, gaming, and security.
Headquartered in Cambridge, Pragmatic also has a large production facility in Sedgefield, County Durham, and the business plans to open a new 175,000 ft2 facility later this year in Durham, aiming to create 125 new highly skilled scientific jobs in the County. The funding will be used by the company to invest and upgrade its manufacturing facilities and other physical assets to support the scaling of its microchip production. The capital will also be used for further R&D to continue developing its novel technology.
This is a fantastic opportunity to support a high-profile tech business with a unique and revolutionary technology at the point of large-scale production. Pragmatic has ambitious growth plans and we are delighted that funding from the NEDCF and FDF will help create a large number of tech jobs in the local area and a new manufacturing facility in County Durham. The company has developed disruptive technology with huge commercial potential due to the large addressable market and the increasing global demand for microchips.
Michael Dickens, Investment Manager for Maven
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