Climate-KIC start-up attracts €10m to expand

German start-up and 2014 GreenTec Award shortlister tado° has completed securing investments of €10m, which will help the business to further develop its growing market.

“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,” Christian Deilmann, founder and CEO of tado°, explained.

As a former German Climate-KIC Accelerator participant, tado° has benefitted widely from Climate-KIC. “Climate-KIC not only supported us with their financial funding programmes, but they have also offered us a great platform to exchange knowledge”, commented managing director, Leopold von Bismarck.

Johannes Schwarz, founder and CTO of tado°, added: “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.”

tado° is the European market leader in intelligent climate control for private households, small businesses and shops. Working with heating or AC systems, using geo-awareness, it detects where residents are and controls temperatures accordingly. It also takes current weather forecasts, building characteristics and smart algorithms into account.