Holtzbrinck leads €6m Thermondo funding round

Previous backers E.ON, IBB Beteiligungsgesellschaft and Grey Corp also participated in the round. Grey Corp is the investment holding company of entrepreneurs Jan Becker, Andreas Etten and Robert Wuttke.

The fresh capital will be used to expand Thermondo across Germany and to treble its IT development capacity. The company also plans to recruit 140 new staff in 2015.

E.ON stated the partnership will benefit both companies, with Thermondo gaining access to its online channels and the energy supplier offering new digital services.

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 employs 90 people. Half of these are based at Thermondo's Berlin headquarters, while the remainder work in German regions.

People
Lars Langusch is a partner at Holtzbrinck. Philipp Pausder is co-founder and CEO of Thermondo. Susana Quintana Plaza is senior vice president of technology and innovation at E.ON.

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• Topics
• DACH
• Expansion
• Industrials
• Germany
• Holtzbrinck Ventures