TactoTek Secures €22 Million Grant and Loan Funding, €15 Million from European Guarantee Fund
TactoTek announced that the company has received up to €15 million in financing from the European Guarantee Fund (EGF).
Jussi Harvela, CEO, Tactotek
“Growing companies need a variety of financing options and venture debt is one of them. My rough rule is that companies need around 60% equity and other instruments cover around 40%. The choice of financial instruments is essentially influenced by the company's leverage point and the venture debt loan was well suited to Tactotek's current situation.”
TactoTek® (www.tactotek.com), the Finland-based company that develops and licenses Injection Molded Structural Electronics (IMSE®) technology, announced that the company has received up to €15 million in financing from the European Guarantee Fund (EGF). TactoTek is the first company to receive an EGF investment. TactoTek engaged the Grannenfelt Finance to support investment application and processing.
Funding is part of €22 million raised by the Finnish tech company that also includes €4 million of Venture Bridge financing led by Conor Venture Partners with Tesi participation, and €3 million of government backed grand and loan funding.