VTT spinout TactoTek has attracted $5.9m in funding from Ascend Capital Partners.
TactoTek, a Finland-based 3D moulded plastic electronics manufacturer spun out of VTT Technical Research Centre of Finland, has received €5m ($5.9m) from VC firm Ascend Capital Partners, according to Nordic 9.
Founded in 2011, TactoTek produces injection-moulded structural electronics that are created by inserting printed circuitry and electric components, such as light-emitting diodes (LEDs), into plastics that are formed into specific shapes.
The technology has applications in areas including automotive, home appliances and wearables.
The spinout previously raised $20m in a round backed by Faurecia Ventures, the corporate venturing subsidiary of automotive parts maker Faurecia, and unnamed investors in December 2016.
VTT Ventures, the investment arm of VTT Technical Research Centre of Finland, and Conor Venture Partners had co-led a $2m seed round in 2012.
TactoTek’s shareholders also include Finnish state-owned innovation funding agency Tekes and financing company Finnvera, Leaguer Group, the private equity firm backed by Research Institute of Tsinghua University, and assorted angel investors, though their precise involvement could not be verified.
– A version of this article first appeared on our sister site, Global Government Venturing.
