Technology company Tau has concluded a series-B round raising EUR 9M 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.
Tau has established itself as an innovative supplier to the automotive industry by setting a new global standard in winding wire for e-mobility. Its wire addresses the industry’s demand for the next generation of electric motors with a reduced carbon footprint, using less resources and improving the electric vehicles’ efficiency, range, and recharge time, notably through superior resistance to partial discharge and accommodating voltages of 800V and higher.
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.
