tado°, a Munich-based smart thermostat company, has secured €55 million in funding to advance its operations. The funding round was led by Energy Impact Partners, a global investment firm that focuses on energy transition technologies. Other investors included Inven Capital, the European Investment Bank, and Total Energy Ventures.
tado° was founded in 2011 with the goal of making heating and cooling systems more efficient and sustainable. The company’s smart thermostats use artificial intelligence to learn the habits of homeowners and adjust the temperature accordingly. This not only saves energy but also reduces costs for homeowners.
The new funding will be used to expand tado°’s operations globally and develop new products. The company plans to hire more employees and open new offices in Europe and North America. tado° also plans to invest in research and development to improve its existing products and develop new ones.
Christian Deilmann, CEO and co-founder of tado°, said in a statement, “We are thrilled to have secured this funding, which will enable us to accelerate our growth and continue to innovate in the smart home space. Our mission is to make homes more comfortable and energy-efficient, and this funding will help us achieve that goal.”
The smart home market is growing rapidly, with more and more consumers looking for ways to make their homes more efficient and sustainable. According to a report by MarketsandMarkets, the global smart home market is expected to reach $135 billion by 2025, up from $76 billion in 2020.
tado° is well-positioned to take advantage of this growth, with its innovative products and strong track record. The company has already sold over 2 million smart thermostats in Europe and North America and has partnerships with major energy companies such as E.ON and Eneco.
In conclusion, tado°’s €55 million funding round is a significant milestone for the company and the smart home industry as a whole. With this funding, tado° will be able to expand its operations and develop new products, further cementing its position as a leader in the smart home market. As more consumers look for ways to make their homes more efficient and sustainable, companies like tado° will play an increasingly important role in shaping the future of the industry.
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