TaktoTek, in an announcement today revealed, it has raised over $20 million from Faurecia Ventures, which joined other investors including Conor Venture Partners, VTT Ventures, Leaguer VC, and private angels. The company’s backers also include TEKES and European Union’s Horizon 2020 Research and Innovation Programme.
TactoTek specializes in injection-molded structural electronics (IMSE) solutions. They combine flexible printed circuitry and discrete electronic components into mass-produced 3D injection-molded plastics.
TactoTek, with its patented and patent pending technology, allows creating differentiating and cost-effective designs with highly scalable production processes.
Also, the resulting products are intrinsically durable and protected from the environment due to the fact that TactoTek encapsulates electronics and circuitry in injection-molded plastics. Eric de La Gironnière, President of Faurecia Ventures, says,
We are very pleased to partner with TactoTek. Their innovative process perfectly fits in our “smart life on board” strategy to integrate breakthrough HMI technology solutions which will play a key role in the cockpit of the future and will create a new on-board connectivity experience.
TactoTek collaborates with OEMs and their suppliers to implement customer concepts in IMSE designs. Apart from that, it constructs and prepares those parts for mass production using agile product development processes. TactoTek licenses manufacturing to third parties and prefers selected mass production.
TactoTek is particularly focusing on automotive and home appliance markets, both boasting a multi-billion-dollar annual opportunity. Also, since, IMSE technology is horizontal in nature, its reach extends to markets as diverse as wearable technology, medical devices, and industrial controls, and the firm has active projects in each of these arenas.
Jussi Harvela, CEO of TactoTek, stated,
Faurecia’s automotive interiors market leadership reflects their ability to deliver innovative solutions to market; when combined with TactoTek’s IMSE expertise, it’s an opportunity to re-think and revolutionize how and where electronic functions are deployed in vehicles, and the forms that they take.