According to the company, this investment will help to accelerate mass deployment of intelligent packaging, with Avery Dennison taking advantage of the potential of PragmatIC’s flexible integrated circuits in its inlays portfolio.
“We appreciate the confidence in our business reflected by this investment from Avery Dennison, as well as continued strong backing from CIC and ARM,” said Scott White, PragmatIC’s CEO. “The funding provides full support for our next stage of evolution, moving from pilot scale production to enable volume manufacturing with the FlexLogIC equipment.”
“We’re excited about this collaboration with PragmatIC, which presents a promising opportunity to build on our high volume RFID inlay manufacturing capabilities,” added Francisco Melo, general manager, Global RFID, Avery Dennison. “With PragmatIC’s technology, there is the potential to extend the use of item-level digital identities to improve consumer experiences in a number of new segments, such as fast-moving consumer goods.”
The funding round supports PragmatIC’s development and commercialisation of its FlexLogIC ‘fab-in-a-box’ equipment. This modular system, which enables automated, high throughput production of flexible ICs, is designed to fit into the supply chain of a variety of intelligent packaging solutions.
“This funding allows PragmatIC to deliver into the market a tool for producing flexible integrated circuits at an unprecedentedly low unit price point,” said Victor Christou, CEO of CIC. “We believe this is an important step forward to commercially affordable smart packaging.”
