VC firms invest $50m in Tado

Amazon, E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital and the European Investment Bank all took part in the round, which brings total capital raised to $102m.

Tado said it predicts the global smart thermostat market to reach a value of $6.8bn by the end of 2022.

Previous funding
Target Partners led Tado's seed round in 2011, backing the product launch in November that year.

Target returned alongside Shortcut Ventures in September 2013 to invest a further €2m, and both investors took part in the €10m series-C in July 2014.

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

Inven joined the syndicate in April 2016 investing a further €20m.

Company
Founded in 2011, Tado develops and markets smart-home climate-control systems. Its products increase the operating efficiency of home and apartment climate-control systems. The firm is based in Munich, Germany, and employs 180 people.

People
Tado – Toon Bouten (CEO).

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