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

Munich, July 16, 2014 - The smart thermostat company
“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
“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
The first product,
Images
High-resolution images are available here: https://www.tado.com/sg/press
About tado°
Headquartered in Munich,
https://www.tado.com/sg/
Press Contact
tado GmbH
Paul Hughes
Sapporobogen 6-8
80637 Munich
paul.hughes@tado.com
+44 (0) 203 6956 392
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