Amcor announces strategic investment in PragmatIC Semiconductor
In its continuing efforts to discover and develop innovative technologies for the packaging industry, Amcor (NYSE: AMCR; ASX: AMC) announced today its strategic investment in PragmatIC Semiconductor, a world leader in ultra, low-cost electronics.
Based in the United Kingdom, PragmatIC Semiconductor develops flexible integrated circuits (FlexICs) beyond the scope of conventional electronics. Their ConnectIC® family of radio frequency identification and near-field communications (RFID/NFC) integrated chips 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.
Frank Lehmann, Vice President Open Innovation and Corporate Venturing at Amcor, said, “As the global diversified packaging leader, Amcor is well-positioned to tap into early-stage, cutting-edge innovation around sustainability and digitization. We are delighted to partner with PragmatIC Semiconductor to explore ways to leverage and integrate these flexible, integrated circuits into our portfolio of more sustainable packaging solutions.”
Scott White, PragmatIC Semiconductor CEO, said, “We are pleased to partner with an industry leader like Amcor. This investment is a testament to the value Amcor continues to place on innovation and our collective vision on how packaging can be used to connect customers and consumers with the information they need.”
Amcor’s USD$5 million investment was part of the Series C funding round of more than USD$90 million for PragmatIC Semiconductor. This investment follows the recent investment by Amcor Corporate Venturing in ePac in April of 2021.