Tado raises 43 million euros

The start-up was able to convince investors Trill Impact Ventures and Bayern Kapital with its intelligent heating app.

The Munich-based start-up Tado has received 43 million euros in its latest financing round. The round was led by Trill Impact Ventures. Bayern Kapital, Kiko Ventures and Swisscanto joined as new investors. Noventic, Target Partners and other existing investors also participated in the round.

Christian Deilmann and Johannes Schwarz founded the start-up in 2011. The founders have developed smart thermostats which, according to the company, enable customers to reduce their heating costs by an average of 22%. The start-up has already sold over three million of these thermostats.

Tado intends to use the new capital to expand its energy management offering. In future, it will be possible to combine the thermostats with time-variable energy tariffs. In order to reach even more households, the start-up plans to cooperate with housing associations in the future.

"We see Tado as an attractive venture case in a large market and highly relevant in times of the energy and climate crisis," says Alexander Domin, Partner and Co-Head of Ventures at Trill Impact. The thermostats would enable households to save costs and CO2.