Tado raises 38 million euros

The Munich-based proptech was able to raise 38 million euros in a recent financing round. The Noventic Group is a new participant.

Proptech Tado has successfully closed a funding round: The Munich-based company was able to collect a total of 38 million euros. In addition to existing investors, the company Noventic Group is a new participant. The goal is to combine the two main focuses of the companies: So far, mainly private customers of Tado use the intelligent solution for the control of heating and air conditioning, the Noventic Group has access to the housing industry: "The partnership with noventic will give the starting signal for new proptech solutions for the commercial housing market", says Toon Bouten, CEO of Tado.

Noventic is thus expanding its offering to include the control of heating and air conditioning systems. This means that Noventic customers will not only be able to track their own consumption in the future, but also control it. "With this strategic investment, we are bringing together our expertise in recording consumption data with tado's control products," says Noventic CEO Stephan Bause.

Tado was founded in 2011 with headquarters in Munich, currently 180 employees work for the proptech.