tado° raises €10m to fuel global expansion

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Paul Hughes

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European leader in intelligent climate control tado° raises €10m to fuel global expansion

Munich, July 16, 2014 – The smart thermostat company tado° has closed a new round of financing, raising €10m ($13.6m) from current backers Target Partners, Shortcut Ventures, and other investors.

tado° is the European market leader in intelligent climate control for consumers. The tado° products enable households to save significantly on energy costs while also reaching a higher level of comfort. Heating or AC systems with tado° automatically adjust to users’ needs with a geo-aware app for presence detection. The tado° smartphone app automatically recognizes when residents are leaving or approaching home and sets the temperature accordingly. Additionally, weather forecasts, housing characteristics and smart algorithms complete tado°’s control strategy, which can achieve up to 31% in energy savings.

“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. Target Partners and Shortcut Ventures have made very valuable contributions to help build our company over the last few years,” says Christian Deilmann, founder and CEO of tado°.

“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°. The company employs 40 people, two thirds of whom are software developers.

The first product, tado° Heating, was launched in Germany, Austria and Switzerland in November 2012. One year later the company entered the UK market and this was followed by a worldwide launch of the new tado° Smart AC Control product for air conditioning. Currently tado° products are available through retail partners, utility companies and on www.tado.com.

Beeld

Voor meer beeld, kijk op: https://www.tado.com/nl/pers

Over tado°

tado°, de Europese leider op het gebied van slimme klimaatbeheersing in huis, is opgericht in 2011 door Christian Deilmann, Johannes Schwarz, Valentin Sawadski en Leopold von Bismarck. Het tado° hoofdkantoor staat in München.

Met zijn slimme thermostaat en slimme airco bediening ontketent tado° een revolutie in de manier waarop in het huis energie wordt verbruikt. Door het gebruik van een geo-locatie app verandert tado° automatisch de temperatuur op basis van de locatie van de bewoners en stelt huishoudens in staat om aanzienlijk op energiekosten te besparen, terwijl ze meer comfort ervaren.

https://www.tado.com/nl/

Perscontact tado°

tado° GmbH
Paul Hughes
Lindwurmstraße 76
80337 Munich

+44 (0) 203 6956 392

tado° Benelux
Diederik Nederlof

06-29620553


About Target Partners

With €230 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in new start-up and early-stage companies, and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States.

For more details: www.targetpartners.de, follow us on Twitter: twitter.com/targetpartners or become a friend on Facebook: facebook.com/targetpartners.

Press contact Target Partners:

Sprachperlen GmbH
Agency for enterprise communication
Helena Pröpster
Ehrengutstraße 5
80469 Munich, Germany
Tel.: +49 89 411 53 199
Fax: +49 89 411 53 200
Email: targetpartners@sprachperlen.de


About Shortcut Ventures

Shortcut Ventures is the venture capital company by founders for founders, which helps start-ups get onto the fast lane without any detours. The investment strategy of Shortcut Ventures focuses on international start-ups in the Internet, mobile, and media sectors. In addition to financial support, the companies benefit from direct access to the extremely valuable founder know-how. Shortcut Ventures is managed by the successful founders and entrepreneurs Dirk Freise, Martin Ostermayer and Thorsten Rehling (such as for blau.de, handy.de). Their portfolio includes the start-ups Mediakraft Networks, SumUp, tado and yuilop. Further information at: www.shortcut.vc.

Press contact Shortcut Ventures:

Felix Altmann
FAKTOR 3 AG
Kattunbleiche 35
22041 Hamburg
Fon: +49 (040) 67 94 46-66
Fax: +49 (040) 67 94 46-11
Email: f.altmann@faktor3.de
www.faktor3.de



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Hallo,

Verwarmingsinstallaties en airconditionings zijn gecompliceerd. We zijn niet allemaal expert op dit gebied. Daarom helpen wij u graag verder.

Wij bellen u gratis terug als u vragen hebt over tado°.

Groet, het tado° team

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