Tau Group Closes €11 Million Extension to Series-B Round to Fuel Growth and Enhance Production Capacity
Tau Group, a leading technology company driving energy transition and decarbonization efforts, is establishing a new global standard in electric motor insulated wire. Tau has successfully closed a €11 million extension to its Series-B funding round. CDP Venture Capital and Santander Alternative Investments (through Santander InnoEnergy Climate Fund) took the lead in this round, with continued support from existing investors. This strategic funding aligns with Tau’s concurrent expansion of production capacity in a new facility, geared towards fulfilling long-term supply agreements recently inked with automotive industry partners.
Tau concludes €9m series-B round to scale up production for e-mobility
Technology company Tau has concluded a series-B round raising €9 million with Solvay Ventures as a lead investor. Solvay Ventures is joined by existing shareholders including Finindus, a Belgium-based joint venture of ArcelorMittal and the Flemish Region, as well as management and private individuals.
Recently, Tau reached an important commercial milestone when its wire products completed diligent validation processes of several automotive OEM and Tier 1 suppliers in Europe, Asia and North America. The company is currently ramping up capacity, providing early adopters with immediate competitive advantages, and is preparing industrial scale carbon-neutral winding wire production in Italy with the goal to start worldwide deliveries by 2024.