VC firms in €21m funding round for Thermondo

Dutch energy company Eneco and Berlin-based venture capital investor IBB Beteiligungsgesellschaft also took part in the financing.

The fresh capital will be used for product and software development.

Previous funding
IBB led a €600,000 seed round for Thermondo in 2013. A year later, the investor returned alongside energy company Eon to provide the company with a €2.3m series-A.

Both firms subsequently backed Thermondo's €6m series-B in April 2015, which was led by Holtzbrinck and Rocket Internet.

Finally, all existing investors backed a €23.5m series-C for Thermondo in June 2016.

Company
Thermondo is a heating systems and installation company. An algorithm matches consumer needs with various packages and quotes for gas-, oil- and solar-based heating systems. Local teams install the new systems and provide after-sale care. The company is based in Berlin and employs 325 people. 

People
Thermondo – Philipp Pausder (CEO).

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• Topics
• Expansion
• DACH
• Consumer
• Germany
• Venture