Smart thermostat company tado° has finished a new round of financing and raised €10m from its investors
One of Climate-KIC's German start-ups and 2014 GreenTec Award shortlister tado° has completed securing investments which will help the business to further develop its growing market. “With this new investment we plan to expand sales of our products to all major European countries and to continue building a global brand. We are very proud of having a great group of investors on board and we appreciate their trust in our company” Christian Deilmann, founder and CEO of tado°, explained.
As a former German Climate-KIC Accelerator participant, tado° has benefited widely from Climate-KIC. “Climate-KIC not only supported us with their financial funding programmes but they have also offered us a great platform to exchange knowledge”, commented managing director, Leopold von Bismarck.
“Building a fully scalable Internet of Things technology platform and at the same time developing control interfaces for over 5,000 different types of heating systems has been a challenge over the last three years. We are proud of what we have achieved with our team and we are fully committed to creating great products and cutting-edge technology. The new investment will further strengthen our position and allow us to maintain the huge technological head start we have gained in covering Europe’s varying heating landscape.” says Johannes Schwarz, founder and CTO of tado°.
Intelligent Climate Control
tado° is the European market leader in intelligent climate control for private households, small businesses and shops.Working with heating or AC systems, using geo-awareness it detects where residents are and controls temperatures accordingly. It also takes current weather forecasts, building characteristics, and smart algorithms into account. As well as making everyday life easier and more comfortable, tado° products can help users to achieve over 30% in energy savings.They have been marketing their Heating products in Germany, Austria and Switzerland since November 2012. The following year they launched in the UK, and this was followed by a worldwide launch of the tado° Cooling product which work with air conditioning. More information on their products can be found on their website www.tado.com.