Turin, Italy-based e-mobility and advanced materials venture, Tau, has managed to top up its ongoing series A equity investment round to a total of EUR 6.75M.
The investment was raised from two Middle Eastern sovereign wealth funds, the Russian Direct Investment Fund (RDIF) and a German investment manager.
This round’s initial investment was made by the corporate venturing arm of German specialty chemicals company Altana AG, in March 2020. Back then, Tau had secured a €4.5M in its series A equity round.
How will the funds be used?
The raised capital will enable Tau to accelerate its new product development, widen the product range of high-performance wires. Besides, the company will also scale up industrial production to deliver to global producers of electric cars, buses, trucks, aircraft, and ship vessels from early 2022 onwards.
Altana’s division Elantas will help accelerate Tau’s product development and contribute its knowledge and experience in the synthesis and analysis of polymers used as electrical insulation materials.
“Electrification of transport means for us embracing essential transformational change. It is more than just better materials – it is the reconciliation of our carbon-conscious, sustainable, future-oriented mindset with furious engine power and fun. Tau’s vision is to double the power of electric motors of a given size, and we are excited these investors endorse it and join us”, says Francesco Taiariol, co-founder and CEO of Tau.
What does Tau offer?
Founded in 2014 by Francesco Taiariol and Filippo Veglia, Tau deals with the copper and steel core of electric motors. According to the company, traditional carbon-based vehicle transportation account for about a quarter of all global energy consumption. “We want to facilitate the transition to electric power, cutting the carbon footprint of transportation by at least two thirds.”
Focused on applications for automotive, energy, and agriculture, Tau makes coatings for copper, aluminium, and steel durable, resistant, and light. Tau claims that its DryCycle technology sets a new, sustainable standard of wire coating. The strict use of solvent-free polymers eliminates the emission of harmful Volatile Organic Compounds (VOCs) and greenhouse gases. A significantly simplified production process minimizes the use of resources, reducing energy consumption and waste.
“Our customers are thrilled about the disruptive performance capabilities for motor development that our magnet wire enables: lowest partial discharge, high filling factors, temperature resistance of over 250°C as well as higher voltage and frequency optimisation. We designed our proprietary technologies to deliver flawless wire with the reliability and precision that e-mobility demands – smaller, lighter, and more powerful motors”, says Filippo Veglia, co-founder and Chief Sales Officer of Tau.
The company has about 40 employees across its offices in Turin (Italy), Moscow (Russia) & Berlin (Germany).
