PragmatIC appoints Erik Langaker as Chair of the Board to support increasing scale of business
Plus secures over £13 million additional funding to fuel continued expansion towards PragmatIC’s vision of a trillion connected objects
PragmatIC, a world leader in flexible electronics, has appointed Erik Langaker as independent Chair to complement its existing strong Board of Directors. This appointment comes alongside additional funding of over £13 million to support ongoing production ramp-up, accelerate manufacturing optimisation and drive continued product innovation.
Erik Langaker has an extensive background of developing and commercialising technology businesses, with 30 years’ international experience in private equity and entrepreneurial ventures. He has been an active investor and Chair, or Board Director, in 25 companies. Many are in complementary sectors to PragmatIC, such as his current Chair position at Kezzler AS whose patented item-level serialisation technology helps brands combat counterfeit goods, eliminate unauthorised distribution, and improve consumer engagement. As Chair of CMR Surgical Ltd, he helped raise more than £250 million, leading them to an increase in valuation from £30 million to well over £1 billion while the number of employees increased from around 40 to nearly 500. He brings extensive experience in chairing public companies, most recently as Chair of European R&D engineering company Data Respons ASA which was sold to AKKA Technologies SE.
Mr Langaker will also invest his own funds in the Company’s current funding round.
Scott White, CEO of PragmatIC, commented:
“We are delighted to welcome Erik to the Board. He brings us valuable experience alongside market-relevant knowledge at a pivotal time, as we scale the business towards our vision of a trillion flexible integrated circuits.”
Erik Langaker said:
“I am honoured to join PragmatIC and its talented team of innovators at such an exciting time as they are poised to disrupt the electronics industry as well as the supply side of many consumer goods industries. With an increasing focus on and need for a circular economy and transparent supply chains, PragmatIC is ‘just in time’ in bringing a cost effective and highly scalable solution to the market. Opportunities in RFID alone have the potential to exceed a trillion units, and I can see immediate possibilities across healthcare, logistics and retail just from within my own network of contacts.”
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PragmatIC is a world leader in ultra-low-cost flexible electronics. Our unique technology platform enables innovators to create novel solutions to everyday problems that are beyond the scope of conventional electronics. Our ConnectIC® family of flexible integrated circuits (FlexICs) are thinner than a human hair and extend proven applications such as RFID and NFC into mass market use cases, enabling the potential for trillions of smart objects that can engage with consumers and their environments. Our novel, differentiated products are being adopted by a growing base of global companies across diverse markets, including consumer goods, games, retail, pharmaceutical and security. Alternatively, designers can create their own application-specific flexible devices using our FlexIC Foundry™ offering at a fraction of the cost and time required for traditional silicon circuits, opening up multiple new markets beyond RFID. These FlexICs are manufactured on our revolutionary FlexLogIC® production system, a highly scalable manufacturing model for cost-effective high-volume production, achieved with orders of magnitude less capital investment and operating cost compared to a traditional silicon IC fab. PragmatIC is headquartered in Cambridge, UK, with our first billion-unit production facility in Sedgefield. Shareholders include Cambridge Innovation Capital, Arm and Avery Dennison.
For more information please contact [email protected]
ConnectIC information is available at https://www.pragmatic.tech/create-more/connectivity/brands/products
FlexIC Foundry information is available at https://www.pragmatic.tech/create-more/devices