TactoTek® Secures $60 Million in Funding Led by Virala Group
Summary
Oulu, Finland 19 November 2024 - TactoTek, the global leader in In-Mold Structural Electronics (IMSE\xae) technology, today announced the completion of a $60 million funding round led by Nidoco AB, part of Virala Group. Automotive: Enhancing vehicle interiors with integrated control panels, ambient lighting, and smart surfaces that reduce weight and assembly complexity; Consumer Electronics: Enabling sleek, functional designs with embedded touch controls and illuminated branding features in devices like audio equipment and wearables; Industrial Applications: Providing durable, efficient solutions for control systems and interfaces in challenging environments; Defense: Developing ruggedized electronic components that meet stringent military standards for performance and reliability; Medical: Seamless, elegant consumer medical product designs that are easily sterilized; and"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 TactoTeks IMSE technology across multiple industries, including the defense sector, and its secure, highly-protected, intellectual property foundation. 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.TactoTek, Oy (Oulu, Finland), is the world leader in developing and licensing in-mold structural electronics (IMSE\xae) technologies. Automotive, aviation, connected home, industrial control and medical brands use TactoTek innovations to create next-generation user experiences that are compelling, differentiated, and more sustainable.