Tado raises €20m from Inven Capital

Inven's investment brings Tado's total raised capital to €50m. The company stated it will expand its services and increase international growth.

In November 2015, Inven led an eight-digit series-C for Sunfire, a German developer of high-temperature fuel cells and electrolysers, alongside existing investors Total Energy Ventures and Electranova Capital, as well as the company's founders.

Previous funding
Tado raised €15.2m from Siemens Venture Capital, Statkraft Ventures, BayBG, Target Partners and Shortcut Ventures in October 2015.

Target Partners and Shortcut Ventures also took part in the €10m series-C round in July 2014. The same investors previously backed the startup during its €2m round in September 2013. Target Partners led the company's seed round in 2011, backing the product launch in November that year.

Company
Founded in 2011 and headquartered in Munich, Tado develops home climate control technology.

The company has 85 employees and operates in Europe, US and Singapore.

People
Inven Capital – Petr Míkovec (managing director).
Tado – Christian Deilmann (founder, CEO).

Advisers
Company – Reed Smith (legal); Bryan Garnier (corporate finance).

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• Topics
• Early-stage
• DACH
• Industrials
• Germany
• Venture