News & Podcast

Japanese electronics conglomerate Panasonic is investing 30 million euros in Munich-based smart home specialist Tado. The goal of the partnership is to further develop software to optimize Panasonic heat pumps.

Tado announces the appointment of Lukas Zyla as Chief Financial Officer (CFO) and managing director. For the startup, this is another step on its path to becoming Europe’s market leader in home energy management solutions.

The 2nd Munich Startup Festival not only features keynotes and inspiring panel discussions, a pitching stage, and culinary delights. On July 17, participants can also look forward to several workshops at Backstage where they can tackle important startup topics with a practical approach.

Tado has been known for its smart thermostats so far. With them, the Munich startup helps its customers reduce their heating costs. Now Tado is taking the next step and becoming an electricity provider. Customers will now benefit on an hourly basis from low energy prices on the European electricity exchange.

Tado, known for its smart thermostats, appoints Philip Beckmann as new CEO from mid-August. Beckmann, previously a member of the management board at E.ON Energie Deutschland, succeeds Toon Bouten, who is retiring due to age.

Just in January, Tado announced the completion of its Series H financing with 43 million euros. Now the startup, known for its smart thermostats, is increasing the round by an additional 12 million euros.

Tado, known for its smart thermostats, is closing another funding round: In its series H, the Munich-based startup is raising a total of €43 million. The company also announces its plan to become profitable by the end of 2023.