Companies

Repsol enters the capital of the Finnish startup TactoTek to grow in the automotive sector

Repsol, through its investment fund Repsol Corporate Venturing, has entered the capital of the Finnish startup TactoTek, specializing in the development of intelligent molded structures applicable to the automotive sector, among others, after investing three million euros in the last round of financing launched by the company.

In this way, the fund promoted by Repsol, which already participates in a total of 18 companies and since its launch has analyzed more than a thousand investment opportunities, continues with its commitment to investments in startups that offer business solutions such as advanced mobility, energy transition, new materials, circular economy or digital technologies applied to exploration and production, among others.

As reported by the Finnish startup, this round of financing has been closed with the collection of 23 million euros by companies, in addition to Repsol, such as 3M Ventures and Cornes Technologies Limited.

TactoTek, founded in 2011 and based in Oulu (Finland), has developed a manufacturing process called ‘structural electronics by molding’ (IMSE) consisting of a method of printing 3D plastics that fuses electronic functions on the surface of objects, allowing almost any material to be transformed into an interface without the need for buttons or other traditional controls.

This innovative design has been adapted for the automotive industry, through, for example, the integration of controls in panels inside the vehicle, in consumer electronics to provide any electronic device with functional surfaces and even in products of type ‘ wearables or clothing. In addition, this manufacturing process is also extended to other objects connected in other sectors.

85 million euros

Repsol provided 85 million euros to its Repsol Corporate Venturing (RCV) investment fund in order to take part in innovative startups.

Thus, it already has participation in a significant number of startups that are integrated in these priority areas, such as the Spanish manufacturer of electric scooters Silence, with its own rechargeable battery technology, or Graphenea, one of the main European graphene producers .

It also highlights the collaboration with the Donostiarra home automation company Wattio, manufacturer of devices and integral solutions of Internet of Things (IoT), both for large companies and for connected homes.

In addition, some of the last participations that it has acquired have been in the Spanish 3D printing company Recreus, in Nanogap, which provides solutions in the field of nanotechnology, and in Finboot, a startup that was accelerated, first, by the Repsol Foundation Entrepreneurs Fund and which was later participated through the Repsol Corporate Venturing.

International vocation

The fund also has an international vocation, so it is intended to build a global network of contacts that includes incubators, universities or Venture Capital of other companies.

An example of this international projection is the participation in Ample, an emerging company in San Francisco (United States) that seeks electric mobility solutions through a novel approach that, through the implementation of autonomous robotics, allows the replacement of batteries in minutes . In this same area, it participates in WeSmartPark, a mobility company that draws on the new forms of collaborative economy.

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