TacoTek expands reach in automotive industry post $23m funding round

Tacto Tek, a leading developer of IMSE (injection molded structural electronics) solutions has recently revealed that it has secured USD 23 million in funding from new as well as the existing investors. Apparently, the company will use the fresh capital to expand the capacity of its plant at its headquarters in Oulu, Finland. Furthermore, the company has also been reported to focus on upgrading its engineering capabilities and expanding its sales presence in Asia and North America automotive & transportation industry.

According to the New Electronics, Tacto Tek’s technology enables seamless integration of discrete electronic components and flexible printed circuitry into 3D injection molded plastics. This technology, over time, has allowed major companies to efficiently manufacture cost-effective, durable, sturdy, and unique designs.

IMSE solutions have practically transformed the methodology with which electronics can be designed for diverse markets, comprising appliances, automotive, and wearable/IoT solutions, cite experts. It has been further speculated that these solutions will have a substantial impact on the overall automotive electronics market outlook, given the ability of IMSE solutions to design very stylish, high-performance surfaces.

In one of its company statements, the CEO of Ascend Capital Partners, Monita Mo, was quoted stating that TactoTek with its new wave of innovations, certainly stands tall in the worldwide automotive & transportation industry. In continuation, she added that the IMSE solutions are strongly supported by the automotive market’s increasing demand for electronic functionality to elevate vehicle designs for connectivity and better aesthetics.

According to industry analysts, integrating electronics into three dimensional structures, popularly known as plastronics, is changing the face of vehicle interior design, in turn, having a powerful impact on the automotive electronics market.

For the record, this funding round has attracted numerous investors along the likes of Conor Venture Partners, Ascend Capital Partners, Faurecia Ventures, Nanogate, and Plastic Omnium.