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        IMA

TactoTek receives funding from Faurecia

tactotek-automotive

Finland’s TactoTek, an injection moulder of structural electronics (IMSE) solutions, says its funding has grown to over US$20 million with recent investment from automotive specialist Faurecia Ventures.

“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 revolutionise how and where electronic functions are deployed in vehicles, and the forms that they take.” stated Jussi Harvela, CEO of TactoTek, “We are very enthusiastic about our relationship with Faurecia and the shared vision of market transformation on which it is founded.”

TactoTek is emphasising the automotive and home appliance markets, each of which represents a multi-billion-dollar annual opportunity. Because IMSE technology is horizontal in nature, its reach extends to markets as diverse as wearable technology, medical devices and industrial controls, and the company has active projects in each of these arenas.

Eric de La Gironnière, President of Faurecia Ventures, says that TactoTek fits in the company’s “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 partners with OEMs and their suppliers to implement customer concepts in IMSE designs, and readies those parts for mass production using agile product development processes. TactoTek licenses manufacturing to third parties and does selected mass production.

Faurecia is one of the world's largest automotive equipment suppliers, with three key Business Groups: Seating, Interiors and Clean Mobility. In 2016, the group posted total sales of EUR18.7 billion. Faurecia employs 100,000 people in 34 countries at 300 sites and 30 R&D centers.

TactoTek provides solutions for IMSE that integrate printed circuitry and electronic components into 3D injection moulded plastics, including 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, Faurecia Ventures, VTT Ventures, Leaguer VC, private angels, TEKES, and European Union’s Horizon 2020 Research and Innovation Programme.

(IMA)


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