TactoTek, an Oulu, Finland-based developer of injection molded structural electronics solutions, secured $23m in funding.
The round saw the participation from Ascend Capital Partners, Nanogate, Plastic Omnium, Conor Venture Partners and Faurecia Ventures, debt instruments from Nordea Bank, and grants from Business Finland and ELY Center.
The company will use the proceeds to accelerate growth, including expanding operations and production capacity in its Oulu, Finland, headquarters, and locating engineering and project management teams close to customers in Central Europe, in Asia and North America.
Led by Jussi Harvela, CEO, TactoTek provides solutions for Injection Molded Structural Electronics (IMSE) that integrate printed circuitry and electronic components into 3D injection molded plastics. Use cases include in-vehicle applications, home/industrial appliances, and wearable technology.
The company adapts customer designs to IMSE technology, develops mass production ready prototypes, and mass produces or licenses the technology for 3rd party mass production.