Bubbly sources of money — the Munich-based IoT startup tado° secures another 20 million euros in venture capital.
tado°, which claims to be the European market leader for smart climate solutions in private households, has further Financing round of €20 million in venture capital raised. The Munich-based IoT startup has thus secured a total of €50 million in venture capital to date. Munich Startup recently presented the company in a Success Story before.
The investor is lNVEN CAPITAL, the venture capital fund of the Czech energy company CEZ GROUP. As in the last two financing rounds, tado° was advised by the investment bank Bryan, Garnier & Co. tado° CEO Christian Deilmann explains:
“We want to use the new capital specifically to expand our Market leadership to further expand. It's only a matter of time before all households have intelligent heating control."
With tado°'s smart thermostats, heating and air conditioning systems adapt to the needs of the user through automatic presence and absence detection via the app. In addition to increased comfort, this significantly reduces energy consumption.
