Target Partners reinvests in Tado

The capital will be used to further develop the smart heating control app and expand the firm's reach across Europe.

Target Partners' equity contribution was made via the Target Partners II vehicle.

Both GPs previously invested in Tado in a series-A funding round, backing the firm's product launch in November 2011.

The transaction is Target Partner's fourth investment this year. In August, the GP backed So1, a provider of marketing services, in a series-A round. Also in August this year, the private equity house led a joint €6m investment round in Falcon, a Danish social media management software-as-a-service platform, alongside NorthCap Partners.

In January this year, Target Partners invested €2m in Finanzchef, an online financial services start-up.

Shortcut Ventures is based in Hamburg and currently holds four companies in its portfolio.

Company
Tado is based in Munich, where it was founded in 2011. The firm employs 15 staff. At the moment, Tado is available in Germany and Austria, but will expand Europe-wide following this investment.

The company provides an app offering smart heating control. The app aims to adjust the household's heating according to its residents' behaviour. It also takes into account the weather and the structure of buildings.

People
Christian Deilmann, Johannes Schwarz and Valentin Sawadski are Tado's co-founders.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH
• Expansion
• Technology
• Germany
• Target Partners