Oulu-based TactoTek has raised $60 million in a funding round led by Nidoco AB, part of Virala Group. The round included contributions from Cornes Technologies, Elo Mutual Pension Insurance Company, European Investment Bank, Finnish Industry Investment Ltd, 3M Ventures, Ingman Group, VTT Technical Research Centre of Finland, Conor Venture Partners, Turret Oy Ab, private investors, and employees. TactoTek specializes in In-Mold Structural Electronics (IMSE®), integrating electronics like touch controls and lighting into 3D injection-molded structures. The funding will support expanding customer operations globally, enhancing software tools with AI capabilities, and advancing adoption across automotive, medical, defense, and consumer electronics sectors. By reducing product weight and simplifying manufacturing, IMSE offers a more sustainable alternative to traditional electronics, aligning with broader industry efforts to decarbonize.
“This investment marks a significant milestone for TactoTek,” said Jussi Harvela, CEO of TactoTek. “Our collaborations with industry leaders such as Kyocera, Gentex, Polestar, Valeo, LS Automotive, Yanfeng, and most German Premium Automotive OEMs, validate the transformative potential of our IMSE technology. IMSE is being used to improve products and concurrently decarbonize manufacturing at scale across multiple industries. With this funding TactoTek will accelerate the adoption of IMSE globally by expanding customer-facing operations and streamlining IMSE solution design by augmenting our software-based delivery system with AI elements and plug-ins for CAD and simulation packages.”
TactoTek develops and validates IMSE technology that is taken to market by a global network of licensees. IMSE solutions integrate electronic functions — such as lighting, touch controls, and antennas — within 3D injection-molded structures. This innovative approach results in lightweight, thin, and durable smart surfaces that provide greater design freedom and sustainability than traditional electronics in practically any industrial vertical, including medical, consumer products, defense, automotive, and aerospace.
TactoTek has developed a portfolio of over 280 patents across 48 families, enabling its In-Mold Structural Electronics (IMSE®) technology to be applied across various industries. In automotive, it is used for integrated control panels and ambient lighting, while in consumer electronics, it supports touch controls and illuminated branding in devices. For home appliances, it facilitates smart functionality within surfaces, and in industrial applications, it offers durable solutions for control systems. The technology is also applied to defense electronics requiring high reliability, sterilizable medical devices, and lightweight aerospace components, emphasizing its adaptability and broad industrial use.
“This USD60 million funding round is among the largest private financings in the Finnish and European deep tech space during 2024 and the family controlled Virala Group was honored to lead the round with a significant investment,” said Anders Dahlblom, incoming Chairman of TactoTek, and COO of Virala Group. “Our investment reflects the market traction of TactoTek’s IMSE technology across multiple industries, including the defense sector, and its secure, highly-protected, intellectual property foundation. TactoTek and their IMSE technology are poised for rapid growth.”
“In today’s business climate growing businesses that succeed over time must combine capability to meet market needs, with strong environmental performance,” stated Kari Lehtonen, Portfolio Manager at Elo Mutual Pension Insurance Company. “TactoTek is delivering on both of these dimensions: TactoTek has identified compelling solutions spanning different markets; and IMSE solutions are produced using clean, additive processes and can reduce carbon emissions significantly relative to conventional electronics.”
TactoTek was advised by MP Corporate Finance on financial matters and Bird & Bird on legal aspects during the funding round.
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Read the orginal article: https://arcticstartup.com/tactotek-raises-60m/
