Mito Tech Ventures reports that it has approved a new EUR 1.5 million investment in Tau Group, a start-up that produces eco-friendly, high-performance wire for electric motors with applications in the automotive and energy sectors.
With this second transaction, Mito Tech Ventures’ investment period continues with the aim of supporting researchers and companies developing innovative technologies to accelerate the ecological transition.
Mito Technology’s second fund joined the round initiated by Tau Group at the beginning of the year and led by CDP Venture Capital through its Corporate Partners I fund, together with its IndustryTech and EnergyTech sub-funds, and Santander Alternative Investments through Santander InnoEnergy Climate Fund, and which closed an EUR 11 million extension.
Tau Group (photo shows the company’s headquarters), founded in 2013 by Francesco Taiariol, Filippo Veglia and Piero Degasperi, specialises in the development of innovative solutions for the production of high-performance insulated metal conductors, which are essential for the manufacture of electric motors, transformers and generators. Patented technologies enable the production of coatings with a low carbon footprint, optimising the energy efficiency and performance of electrical components. This approach contributes to making electrification more sustainable and competitive, with a view to decarbonising energy.
Alberto Calvo, managing director of Mito Technology says in a note: ‘The electrification of processes and consumption requires the development of radically innovative and environmentally friendly technological solutions. Tau brings unique, cutting-edge solutions to the market that will enable entire industrial sectors to make their products and services more efficient in a sustainable way. We fully share the vision and strategies of the entrepreneurial team to build a future of low-emission applications in this sector. As investors, we wholeheartedly support the company’s growth path, with the goal of seeing it become an undisputed leader in its field.
Francesco, Taiariol, CEO and co-founder of Tau Group, adds: ‘We are thrilled to welcome Mito Tech Ventures among our investors. This contribution will enable us to accelerate the development of our technologies and strengthen our position in the industry. Our mission is to make a decisive contribution to the green transition by developing cutting-edge solutions that make electrification more efficient and sustainable. With the support of investors who share our vision, such as Mito Tech Ventures, we are ready to face future challenges and lead the evolution of a rapidly changing industry.
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