TactoTek, a developer of injection moulded structural electronics products, said it had closed $23m in funding with investors including auto suppliers Nanogate, Plastic Omnium and Faurecia Ventures.
Jussi Harvela, TactoTek CEO, said: "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. He noted this was the second time Faurecia had invested, reflecting "our deepening strategic cooperation".
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TactoTek will use the funding to grow, 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.
"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," said Faurecia marketing and business development.
"Plastic Omnium's investment 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," said Plastic Omnium strategy and development head Felicie Burelle.
