Erik Langaker becomes PragmatIC chair as it raises £13m
PragmatIC has secured more than £13million in fundraising and appointed tech entrepreneur Erik Langaker as its chairman.
The Cambridge-based flexible electronics pioneer said the developments would help it focus on scaling up production of its ConnectIC family of flexible integrated circuits, which are thinner than a human hair.
An active investor and chair, or board director in 25 companies, Mr Langaker brings 30 years of experience in private equity and entrepreneurial ventures.
At CMR Surgical , he helped to raise more than £250m as its valuation soared from £30m to well over £1bn.
Mr Langaker, who is investing his own funds into the Cambridge Science Park company’s funding round, is involved in a number of complementary sectors, including as chair of Kezzler AS, a company with patented item-level serialisation technology to help brands combat counterfeit goods, eliminate unauthorised distribution and improve consumer engagement.
PragmatIC CEO Scott White said: “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.”
Mr 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.”