[Funding alert] Italy-based Tau Group Secures €11Million in Series-B Extension Funding

Wednesday 31, 2024 | By Startup Rise EU

Italy-based Tau Group secures €11million in series-B extension funding. CDP Venture Capital and Santander Alternative Investments (through Santander InnoEnergy Climate Fund) took the lead in this round, with continued support from existing investors.

Italy-based Tau Group secures €11million in series-B extension funding. 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.

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Tau Group stands at the forefront of the energy transition, specializing in the decarbonization of energy and electrification of transport. The company's patented technologies strike a balance between sustainable, resource-minimizing manufacturing and the robust performance required for effective electrification.

Their focus on carbon-conscious protective coatings for high-performance copper, aluminum, and steel wires has positioned them as a key player in advancing smaller, greener, longer-lasting, and more powerful motors, transformers, and generators.

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Francesco Taiariol, CEO and Co-founder at Tau Group said, "This €11 million investment represents a pivotal moment for Tau Group and reinforces our commitment to leading the charge in sustainable technology, With the support of CDP Venture Capital and Santander InnoEnergy Climate Fund, we are poised to accelerate the adoption of e-mobility, bringing about positive change in the global transportation landscape."

CDP Venture Capital participates in the operation through its corporate venture capital fund Corporate Partner I, with the IndustryTech and the EnergyTech Sub funds.

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CDP Venture Capital invests jointly with the regional co-investment fund Piemonte Next, established and managed by CDP Venture Capital and underwritten by the Financial Institution of Piemonte Region Finpiemonte with the objective of maximizing investments in innovation for the territory.

Enrico Filì, Head of IndustryTech sub-fund of Corporate Partners I fund, CDP Venture Capital said, “The revolutionary technology patented by Tau Group promises to significantly improve conductor performance, providing a competitive advantage in the industry and paving the way for more sustainable solutions in the world of electrical conduction, The new funding will support Tau production capacity through a new plant and new production lines targeted at fulfilling the increasing demand from the international automotive sector. Tau represents an ideal target for CDP Venture Capital's cvc fund helping companies creating bridges between large industrial groups and the new disruptive solutions”.

Santander InnoEnergy Climate Fund’s mission is that of accelerating the energy transition across different sectors, including that of mobility. Such focus, together with the expertise and network of the corporations that are behind the fund (Santander and InnoEnergy), make it a perfect ally for Tau Group at this point in time.

As Tau Group continues to advance in sustainable magnet wire manufacturing, the additional funding sets the stage for an exciting chapter of growth and impact on a global scale. The funds raised in this extension will propel Tau Group's growth trajectory, enhancing its ability to achieve ambitious goals.

Read also -  Swedish Acorai Secures €4.1 Million in Funding

This investment will play a pivotal role in scaling up production capacity, a crucial step in meeting the demands arising from Tau Group's recent long-term supply agreements within the automotive sector. The company remains dedicated to advancing sustainability, fostering innovation, and contributing to the broader goals of the energy transition.

About Tau Group

Tau is a technology company at the core of energy transition, decarbonization of energy and electrification of transport. Its patented technologies reconcile the necessity of sustainable, resource-minimizing manufacturing with the power, reliability and performance that electrification requires to enable smaller, greener, longer-lasting and more powerful motors, transformers and generators.

Read also - Dresden-based SEMRON Raises €7.3M Seed Funding

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