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By Beth Bacheldor

Avery Dennison Invests in Flexible Electronics Company PragmatIC

PragmatIC Printing Ltd., a global provider of flexible electronics, has secured £18 million ($22 million) of funding that includes a strategic investment from Avery Dennison. Avery Dennison joins existing shareholders Cambridge Innovation Capital (CIC) and ARM, which also participated in the round. The funding will be used to advance PragmatIC's growth, including further development and commercialization of its FlexLogIC equipment. The FlexLogIC "fab in-a-box" equipment is a modular system that, according to Avery Dennison, facilitates automated, high-throughput production of flexible integrated circuits that can be used for a variety of intelligent packaging solutions.

The new investments are expected to accelerate the mass deployment of intelligent packaging, Avery Dennison reports, with the company leveraging the potential of PragmatIC's flexible integrated circuits in its inlays portfolio.

"Avery Dennison works with more than 10,000 converters, brand owners and retailers worldwide," said Scott White, PragmatIC's CEO, in a prepared statement, "making them an ideal supply chain partner to deliver solutions based on our unique technology."

"We're excited about this collaboration with PragmatIC, which presents a promising opportunity to build on our high volume RFID inlay manufacturing capabilities," added Francisco Melo, Avery Dennison's VP and general manager of global RFID, in the statement. "With PragmatIC's technology, there is the potential to extend the use of unique item-level digital identities to improve consumer experiences in a number of new segments, such as fast-moving consumer goods."

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