TactoTek (Oulu, Finland), an injection molder of structural electronics (IMSE) products, announced on Feb. 21 that its funding has grown to more than $20 million with the recent investment by Farurecia Ventures.

“Faurecia’s automotive interiors’ market leadership reflects its ability to deliver innovative solutions to market. When combined with TactoTek’s IMSE expertise, it’s an opportunity to re-think and revolutionize how and where electronic functions are deployed in vehicles, and the forms that they take,” stated Jusai Marvela, 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 tagets automotive and home appliance markets, each of which represents an annual multi-billion-dollar opportunity. Because ISME 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, said TactoTek’s information.

Eric de La Gironnière, President of Faurcia Ventures, commented, “We are very pleased to partner with TactoTek. Their innovative process perfectly fits our ‘smart life on board’ strategy to integrate a new on-board connectivity experience.”

TactoTek partners with OEMs and their suppliers to implement customer concepts in IMSE and design and ready those parts for mass production using agile product development processes. TactoTek licenses manufacturing to third parties and does selected mass production. TactoTek’s IMSE integrates printed circuitry and electronic components into injection molded plastics.

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 €18.7 billion. Faurecia employs 100,000 people in 34 countries at 300 sites and 30 R&D centers.