tado Raises US$50M in New Financing Round

tadotado┬░, a Munich, Germany-based intelligent home climate management company, raised US$50m in funding.

Backers included Amazon, E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital, the European Investment Bank and others.

The company, which has raised US$102m in total funding to date, aims to strengthen its position with products and to extend its service offerings.

Led by Toon Bouten, CEO, and Christian Deilmann, Co-founder and CPO, tado provides smart thermostats that connect heating and air conditioning systems to the internet. The smartphone app detects when residents are leaving or approaching their home, or when windows are opened, to set temperatures efficiently. Additionally, weather forecasts and adapting algorithms further contribute to save on heating costs, while improving comfort and wellbeing.
tado’s products can be purchased from all European Apple stores, from over 30 utility companies, and many more leading retailers and partners.

The company has 180 employees.

FinSMEs

25/10/2018

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