Thermondo raises €6M Series B from Rocket Internet, Holtzbrinck Ventures, E.ON, IBB and Grey Corp
“We only raise as much capital as we need to reach the next company growth and valuation milestone,” says Thermondo‘s CEO Philipp Pausder. In fact, that’s a pretty smart fundraising strategy that ensures the founders do not sell off their company too quickly before substantial value has been created with the help of the current financing round. Today, the Berlin-based late stage startup announced their €6M Series B that they collected from Rocket Internet, Holtzbrinck Ventures, E.ON, IBB and Grey Corp. Thermondo sells heating systems online and dispatches internal teams from 12 cities to every corner in Germany to install the units at the customers’ premises. Learning from Solarcity, Thermondo decided a while ago to vertically integrate the installation process in order to manage it digitally and minimise process costs.
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