tado, a Munich, Germany-based intelligent home climate management company, secured €12 million in a funding round from S2G Ventures (S2G), bringing its total funding to €55 million.
The funds will be used to scale up alongside its recent years of strong growth. tado° aims to expand its offering of in-home energy management by combining its Smart Thermostats with Time-of-Use energy tariffs.
To this end, tado° acquired aWATTar GmbH, a technology company that provides power load shifting through Time-of-Use energy tariffs, in January this year.
“2023 marks an important year for tado°, and now is the right time to scale a unique energy management offering that will double down on reducing home’s heating costs and CO2 emissions,” says Christian Deilmann, co-founder and chief product officer at tado°.
“We’re pleased to welcome S2G Ventures on board who share the same vision for tado° and are dedicated to supporting our growth,” adds Deilmann.
tado° is an intelligent home climate management platform that builds smart thermostats and services compatible with over 95 percent of all homes in Europe. Currently, the company employs around 180 people. Its Smart Thermostats and services can be connected to any heating or cooling system, curbing heating costs by 22 percent on average.
Company: tado GmbH
Raised: €12.0M
Round: Unknown
Funding Month: April 2023
Lead Investors: S2G Ventures
Additional Investors:
Company Website: https://www.tado.com/
Software Category: Intelligent Home Climate Management
About the Company: Founded in 2011 by Christian Deilmann, Johannes Schwarz, and Valentin Sawadski, Tado is a Munich-based SaaS company that provides smart home heating and cooling solutions to residential and commercial customers. Tado's products and services are cloud-based, which means that users can remotely control and monitor their HVAC systems through a web or mobile application. Tado's core product is its smart thermostat, which uses machine-learning algorithms to optimize energy consumption and reduce heating and cooling costs. In addition to its smart thermostat, Tado offers other services, such as air conditioning control, boiler control, and multi-zone control. Tado.com's mission is to contribute to the reduction of carbon emissions by improving energy efficiency in buildings.
Source: https://siliconcanals.com/news/startups/after-43m-munich-tado-raises-12m/