Termo (formerly Termostore), a Fondi (Latina), Italy-based provider of a digital service platform for sustainable HVAC systems installation and maintenance for households, raised $ 10m in combined Series A and Series B funding.
The round was led by Fondo Italiano di Investimento SGR with the funds FITEC and FITEC Lazio, and other investors including Supernova Hub, Mediaset, managers and angels.
The company intends to use the funds to grow beyond the greentech sector and expand its activities in new adjacent business areas.
Founded in 2014 in Fondi (Latina), Termo offers a fully digital service platform for sustainable HVAC systems installation and maintenance for households. It allows customers to book the intervention of a qualified team of technicians that provide the service, with the opportunity to deduct any environmental tax credit directly from the invoiced amount.
As of today, the company employs 84 people, with revenues doubling from € 2.4 million in 2019, to about € 5 million in 2020.
In 2020 Termo has launched two new business lines leveraging its competences in managing the new Italian government’s environmental tax credits:
- home renovation and energy efficiency improvement, as a general contractor, offering customers the opportunity to deduct the environmental tax credits directly from the invoiced amount; and
- Business Process Outsourcing – “BPO” – on behalf of financial institutions, for the management of environmental tax credits generated by other general contractor.
Following the investment, co-investor Gabriele Basile joined the board of directors as CEO, Co-founder Alessandro Andreozzi is nominated President, Federico Pozzi Chiesa, Co-Founder and CEO of Supernova Hub remains as member of the board of directors, while Mauro Pretolani, Senior Partner of Fondo Italiano SGR joins the board representing the lead investors FITEC and FITEC Lazio.