tado°, a Munich-based smart thermostat company, has secured €55 million in funding from Munich-based investors to support its business growth. The funding round was led by Energy Impact Partners, a global investment firm that focuses on energy transition technologies, and joined by other investors including Inven Capital, the European Investment Bank, and Total Energy Ventures.
tado° was founded in 2011 with the aim of making heating and cooling systems more efficient and sustainable. The company’s smart thermostats use artificial intelligence to learn the habits of their users and adjust the temperature accordingly, saving energy and reducing costs. tado° also offers a range of other smart home products, including air conditioning controls, radiator thermostats, and smart home integration.
The new funding will be used to support tado°’s expansion into new markets, including the US and Asia, as well as to develop new products and services. The company plans to use the funds to hire new staff and invest in research and development.
Christian Deilmann, CEO and co-founder of tado°, said: “We are thrilled to have secured this funding from such a strong group of investors. This investment will enable us to accelerate our growth and continue to develop innovative products that help people save energy and reduce their carbon footprint.”
The funding round comes at a time when there is growing demand for smart home products that can help people reduce their energy consumption and lower their carbon footprint. With governments around the world setting ambitious targets for reducing greenhouse gas emissions, companies like tado° are well-positioned to benefit from this trend.
Energy Impact Partners’ Managing Partner Hans Kobler said: “We are excited to partner with tado° as they continue to lead the way in making homes and buildings more energy-efficient. Their innovative products and services are helping to reduce carbon emissions and save consumers money on their energy bills.”
Overall, tado°’s latest funding round is a significant milestone for the company and a testament to its success in the smart home market. With the support of its investors, tado° is well-positioned to continue its growth and make a positive impact on the environment.
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