Munich-based home climate management startup Tado° raises €38 million, partners with noventic

The Munich smart home climate startup Tado has raised 38 million euros from the Hamburg-based proptech company noventic and unnamed existing investors. This investment is a strategic partnership between the two companies specifically aimed at developing and selling energy-efficient products for the commercial housing market. The financing is also intended for further product developments and market expansions.

Tado was founded in 2011 by Christian Deilmann, Johannes Schwarz, Leopold von Bismarck and Valentin Sawadski and is platform-independent and connected to all types of heating or cooling systems.

Tado makes intelligent thermostats for heating and air conditioning systems, mobile consumer applications and SaaS products for utility and heating service providers. With increasing compliance with the European Green Deal, 81% of real estate companies increase report plans to introduce new digital technologies.

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