Raue advised Turin-based e-mobility startup Tau on the deal.
Tau, a Turin, Italy-based e-mobility and advanced materials startup, raised €6.75m in series A funding.
Backers included a consortium of two leading 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. As part of the transaction, the new investors take an additional board seat for a minority stake.
Tau plans to use the fresh capital to accelerate new product development, widen its range of high-performance wires and to scale up industrial production to deliver to global producers of electric cars, buses, trucks, aircraft and ships from 2022 onwards.
Focused on applications for automotive, e-mobility, energy and agriculture, Tau makes protective high-performance insulation for copper, aluminum and steel wire more durable and resistant. Tau’s proprietary DryCycle and LILIT technologies meet the demands of electrical automotive engineering for ever smaller, lighter and yet more powerful and reliable electric motors. DryCycle technology reconciliates higher performance and power with greater sustainability and reliability in wire enameling. By using only solvent-free polymers, DryCycle reduces the production of harmful VOC during the coating process and lowers greenhouse gas emissions. Tau has offices in Turin (Italy), Moscow (Russia) and Berlin (Germany).
The Raue team included Prof. Dr. Andreas Nelle (Picture), Dr. Markus Plesser, Friedhelm Unverdorben, Dr. Michael Gläsner, Fabian Massenberg and Susann Steinecke.
Law Firms: RAUE LLP;
Clients: Tau Group;