Chips with everything as PragmatIC order book busts 20 million mark
Flexible electronics innovator PragmatIC is riding the crest of a trade tsunami: In just two months it has received orders for over 20 million flexible integrated circuits (FlexICs) across three continents.
Orders from customers in Europe, North America and Asia endorse PragmatIC’s technology platform as the optimum solution for introducing connectivity into mass market applications.
And CEO Scott White tells Business Weekly: “While we cannot disclose the monetary value of the orders for confidentiality reasons, I can say that this is just the start for us.”
PragmatIC was last month named as the winner of the Engineering Excellence category of the Business Weekly Awards.
White said: “These initial volume orders highlight the attractiveness and uniqueness of our ConnectIC product line. Global companies, eager to enhance their digital presence, have quickly identified a variety of exciting use-cases for connectivity in everyday items.”
PragmatIC says it will continue to ramp production in the UK through 2019, while working with its partners to enable even more companies to leverage the benefits of FlexICs in their high-volume applications.
The PR1100 ConnectIC series, launched in February, is designed for use in closed HF RFID systems, and enables rapid detection of objects by low-cost custom readers integrated into the solution.
They are noted as being ideal for applications such as hierarchical inventory management, item identification and tracking, supply chain assurance and brand authentication.
Other products in the ConnectIC family are already in development, addressing a range of use scenarios from open standards-based environments to customer-bespoke solutions.
ConnectICs are targeted at market segments such as food and beverage, personal and home care, pharmaceutical and healthcare. They also support the introduction of digital interactivity into physical toys and games, bringing the dynamic nature of online gameplay into the real world.
Raghu Das, CEO of Cambridge-based market research firm IDTechEx, said: “The RFID market is already worth $11 billion in 2018, rising to $13.4 billion by 2022. The rapid adoption of PragmatIC’s ultra-low-cost technology has the potential to increase the addressable market by an order of magnitude or more.”
PragmatIC is a world leader in ultra-low cost flexible electronics, enabling the potential for trillions of smart objects that can engage with consumers and their environments. PragmatIC’s technology platform delivers flexible integrated circuits (FlexICs) that are thinner than a human hair and can be easily embedded in any surface.
The company is headquartered in Cambridge and has a new billion-unit production facility in Sedgefield, County Durham. Shareholders include Cambridge Innovation Capital, Arm and Avery Dennison.