Pragmatic Semiconductor, the Cambridge TFT manufacturer of flexible ICs, is reported by Sky to be close to securing a £200 million investment,

Sources quoted as providers of the money are M&G’s Catalyst fund, Aramco, the UK Infrastructure Bank and Northern Gritstone.

 

Pragmatic’s  ‘FlexICs’ are for applications such as smart packaging, recycling and reuse, traceability and product authentication.

The company manufactures at Sedgefield and on a 15 acre site near Durham where it also offers foundry services.

Pragmatic raised $125 million in a Series C last December.

Previous investors include Arm, In-Q-Tel – the CIA’s VC fund, Puhua Capital of China and the UK National Security Strategic Investment Fund.