Conor – Designing Global Winners

 
 

TactoTek™ Secures $23 Million Funding to Accelerate Growth

Injection Molded Structural Electronics (IMSE™) Leader TactoTek™ Secures $23 Million Funding to
Accelerate Growth

Second close of series B funding round attracts financial and strategic investors committed to
accelerating IMSE solution development and market penetration
OULU, FINLAND (15 February 2018) – Today TactoTek™, the leading developer of injection molded
structural electronics (IMSE™) solutions, announced that it has closed $23 million in funding. The
investment round attracted new strategic investors, Ascend Capital Partners, Nanogate, and Plastic
Omnium, continuing participation from prior investors, including Conor Venture Partners and Faurecia
Ventures, as well as debt instruments and grants.
“Our new investors reflect the globalization of, and expanding use cases for, IMSE solutions,” said Jussi
Harvela, TactoTek CEO. “Ascend brings expertise in European and Asian automotive markets;
Nanogate’s high performance surfaces are prominent in appliance markets as well as automotive; and
Plastic Omnium is a global leader in several automotive exterior segments, including intelligent
bumpers and light, reactive tailgates. This is the second investment in TactoTek by global automotive
interiors leader, Faurecia, and reflects our deepening strategic cooperation. In this round we
augmented equity funding with debt instruments from Nordea Bank, and grants from Business Finland
and ELY Center.”
TactoTek IMSE solutions transform how electronics are designed and produced for diverse markets,
including automotive, appliances, and wearable/IoT solutions. Light, thin, and durable, IMSE solutions
bring electronic functions to stylish cosmetic surfaces and also for unconventional locations and uses.
TactoTek will use the funding 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 and elsewhere. The company is also
expanding its presence in Asia and North America.
“TactoTek is a leader among a new wave of
innovators in the automotive industry that
support the industry’s rapid adoption of
electronic functionality to optimize existing use
cases and enable new designs for smart surfaces
and connectivity. Our investment in TactoTek
builds on our success in the automotive sector
and is complementary with other investments in
our portfolio.”
Monita Mo, CEO, Ascend Capital Partners
“Integrating electronics into 3D plastic
structures, plastronics, is transforming vehicle
interior design. Faurecia is investing in an
ecosystem of plastronic companies, and
TactoTek integrates those technologies into
light, thin, functional solutions.”
David Weill, VP Marketing and Business
Development at Faurecia.
“We are facing a new future market for
surfaces. There is great demand for solutions
for new interactive surfaces that integrate
design, function and electronics. TactoTek is a
good partner to develop this lucrative market.”
Ralf Zastrau, CEO, Nanogate SE
“Plastic Omnium’s investment in TactoTek is
consistent with our innovation strategy for
smarter connected vehicles. Thanks to this
unique plastronics technology, we will continue
our developments to enrich our exterior body
modules.”
Félicie Burelle, Senior Executive VP –
Strategy & Development, Plastic Omnium
About TactoTek
TactoTek is a leading provider of solutions for Injection Molded Structural Electronics (IMSE) that
integrate printed circuitry and electronic components into 3D injection molded plastics. Leading use
cases include in-vehicle applications, home/industrial appliances, and wearable technology. TactoTek
adapts customer designs to IMSE technology, develops mass production ready prototypes, and mass
produces or licenses the technology for 3rd party mass production. TactoTek is funded by Conor
Venture Partners, Ascend Capital Partners, Faurecia Ventures, Plastic Omnium, Nanogate, VTT
Ventures, Leaguer VC and European Union’s Horizon 2020 Research and Innovation Programme. For
more information, please visit www.tactotek.com
About Ascend Capital Partners
Ascend Capital is a leading international venture capital and financial advisory firm committed to
providing world-class corporate financial services and investment opportunities to innovative
companies who have potential to grow and expand internationally, especially in Europe, China,
and the United States. With extensive regional and international networks, and insight into Chinese
and Western capital market worlds, Ascend has set itself apart from other pure advisory firms and
pure private equity funds. For more information, please visit www.ascend-cp.com
About Faurecia
Founded in 1997, Faurecia has grown to become a leading player in the global automotive industry.
With 330 sites including 30 R&D centers in 34 countries, Faurecia is now a global leader in its three
areas of business: automotive seating, interior systems and clean mobility. It supplies automakers with
state-of-the art technology to promote Smart Life on Board and Sustainable Mobility. In 2016, the
Group posted total sales of €18.7 billion and had a workforce of 100,000 people. Faurecia is listed on
the NYSE Euronext Paris stock exchange. For more information, visit: www.faurecia.com
About Nanogate
Nanogate is a leading global specialist for design-oriented high-tech surfaces and components of
very high optical quality. The Group develops and produces design-oriented surfaces and
components and enhances them with additional properties (e.g. nonstick, scratchproof,
anticorrosive). True to its slogan “A world of new surfaces”, Nanogate is a long-standing innovation
partner who opens up the diverse possibilities offered by new materials to companies in a wide
range of industries. It aims to improve customers’ products and processes and to provide
environmental benefits by using multifunctional surfaces, such as those made of plastic or metal,
and innovative plastic components. The Group concentrates on attractive sectors such as
automotive/transport, mechanical/plant engineering, buildings/interiors and sport/leisure. For more
information, please visit: www.nanogate.com
About Plastic Omnium
Plastic Omnium is the world leader in two automotive businesses: exterior body modules; fuel
systems and depollution solutions. The Group and its joint ventures have 33,000 employees in 127
plants, 24 R&D centers and 31 countries worldwide, serving 78 automotive brands and generating 8
billion euros in sales. The Group leads a growth and innovation strategy for safer, cleaner and
connected vehicles.