The investment adds to PragmatIC’s Series C of more than US$80 million, announced in October 2021 and takes the Series C above US$90 million. Amcor said the two companies will seek to integrate PragmatIC’s FlexICs into Amcor’s portfolio of sustainable packaging solutions and joins label giant Avery as an investor.
PragmatIC also makes the ConnectIC family of radio frequency identification and near-field communications ICs, which can be embedded into packaging to store and relay information to devices such as smartphones. This technology enables smart packaging applications across the entire product lifecycle – from manufacturing and supply chain management to consumer engagement and even material recovery.
ARM was also part of the Series C funding round and Dipesh Patel, ARM’s chief technology officer, has joined the board of directors of PragmatIC following the develpoment of an ARM core using the plastic technology rather than silicon.
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