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Finland-based Touch Panel Developer Closed Its Seed Financing Round

TactoTek Inc. closed its first round of venture financing led by Conor Venture Partners and VTT Ventures

Turku, Finland – February 22, 2012 – TactoTek Inc., a Finland-based touch panel developer today announces that the company has successfully closed its seed financing round led by Conor Venture Partners and VTT Ventures.

CEO Mr. Juha Salo from TactoTek says: “This investment will enable us to complete our engineering activities and increase our resources in the sales and marketing. These funds are also very valuable for starting our operations in the areas of sourcing and manufacturing.”

Managing Partner, Mr. Jari Mieskonen from Conor comments: “This is our second coinvestment with VTT Ventures. VTT’s extensive technology resources provide a kick-start to a spin-off company like TactoTek. This young company has been able to build an IPR-pool stronger than similar tech companies alone. The novelty of the process, with wide application areas can open doors to fast growth and many opportunities in various industry fields. ”

Investment Director Mr. Erkki Aaltonen from VTT Ventures adds: ’’It is a pleasure to invest in TactoTek with Conor and we have great expectations for the company. We believe that they are out there at the right moment when there is a strong market pull taking place within the touch panel industry’’.

More information

Erkki Aaltonen, Investment Director/VTT Ventures Oy
Tel: + 358 400 736783
erkki.aaltonen@vtt.fi

Juha Salo, CEO/TactoTek Inc.
Tel. +358 40 3537105
juha.salo@tactotek.com

Jari Mieskonen, Managing Partner/Conor Venture Partners Oy
Tel. +358 50 563 6992
jari.mieskonen@conor.vc

About TactoTek Inc.

Founded in 2011 TactoTek Inc. has been working on touch panel development focusing on low-cost touch panels for the tablet, phone and PC markets. The aim is to make a replacement for the touch solutions currently using rare and expensive materials that are necessary in today’s touch displays. TactoTek touch panels also create a touch platform for new environments and applications, where current touch technologies are not applicable.

For more information, please visit www.tactotek.com

About Conor Venture Partners Oy

Conor Venture Partners is a leading early-stage technology VC investing in Finland, Sweden and the Baltic countries. With 70 million euros under management Conor invests in disruptive technologies in ICT, embedded systems, electronics, new materials and optics. The Conor portfolio includes companies in Nordics and Baltics such as Aito Technologies, BehavioSec, Crystalsol, Eniram, Imbera Electronics, Neo Technology, Plexpress, Scint-X, Sensinode and Supponor Systems.

For more information, please visit www.conor.vc

About VTT Ventures Ltd.

VTT Ventures Ltd.’s mission is to focus on extracting value from VTT technology in developing VTT based high-tech companies with international growth potential. The company actively seeks talented and experienced entrepreneurs to champion the commercialization of its technology. VTT Ventures provides the entrepreneurs with professional business development support together with its public and private innovation partners to facilitate the spin-off process from business planning to funding. VTT Ventures co-invests in its spin-offs with private investors. VTT Ventures’s goal is to stimulate innovation in Finland and to receive a return on its pre-seed and seed capital investments. VTT Ventures’s spin-off portfolio includes 20 technology companies.

For more information: www.ventures.fi