Marking the largest-ever European semiconductor venture funding round, Pragmatic intends to add at least six more manufacturing lines in the UK over the next five years.
Cambridge-based semiconductor firm Pragmatic has announced the first close of its Series D funding round at £162 million. The firm says that plans for a second close are underway with £20 million already allocated to key investors.
Co-led by M&G’s Catalyst and British state-owned UK infrastructure Bank, Pragmatic’s £162 million investment round also saw participation from new investors including Northern Gritstone, Latitude, and MVolution Partners, with existing investors British Patient Capital, Cambridge Innovation Capital, and Saudi VC firm Prosperity7 Ventures renewing their commitments.