tado Raises Additional €12M in Funding

tado

tado, a Munich, Germany-based intelligent home climate management company, raised additional €12M in funding.

S2G Ventures made the investment, adding to previous funding from January 26, 2023. This investment brought the total funding in 2023 to €55M.

The company intends to use the funds to expand operations and its business reach.

Founded in 2011, tado is an intelligent home climate management company offering thermostats and services that connect with heating or cooling systems. In 2022, tado° doubled its smart thermostats and service sales and has reached 3 million sold smart thermostats. 

In 2023, the company is expanding its offering in-home energy management by combining its Smart Thermostats with Time-of-Use energy tariffs. To take this opportunity, tado° acquired aWATTar GmbH, a leader in energy load shifting and Time-of-Use energy tariffs.

Founded in 2011, the company has 180 employees.

FinSMEs

04/04/2023