tado°, a Munich, Germany-based intelligent home climate management company, raised €43M in funding.
The round was led by Trill Impact Ventures, with participation from Bayern Kapital, Kiko Ventures, and Swisscanto.
Founded in Munich in 2011, tado° is an intelligent home climate management company providing Smart Thermostats and services that connect with any kind of heating or cooling system. Customers benefit from energy-saving technology such as Geofencing and Open Window Detection as well as time-of-use energy offerings.
The company intends to use the funds to expand its offering in home energy management, by combining its Smart Thermostats with Time-of-Use energy tariffs. To kickstart this opportunity, tado° recently acquired aWATTar GmbH, the pioneer of energy loadshifting and Time-of-Use energy tariffs. The combined business now plans to scale its bundled offering and enable warm homes at the lowest possible cost and CO2 emissions.
In 2022, the company doubled its smart thermostats and service sales reaching 3m sold smart thermostats. It is on track to continue its fast growth, while aiming to become profitable this year.
tado° currently has 180 employees.
FinSMEs
26/01/2023