- 26
- April
2016
Inven Capital announces €20M investment in Tado at Ecosummit Berlin 2016
Ecosummit TV: Our smart green innovation community is making deals and sharing breaking news at Ecosummit. During their ECO16 Berlin presentation, Petr Mikovec and his Inven Capital team announce their €20M investment in Tado, one of the fastest-growing smart green startups in Germany. The Munich-based late stage startup provides climate control services to households by controlling heating and air conditioning systems. Tado was founded in 2011, pitched at Ecosummit Berlin 2012 for the first time and grew their team to 100 employees. Inven originally contacted Tado in 2015 and wanted to join the last round but it was too late. Eager to get into the deal, Inven today invests alone at a higher valuation than Tado’s last financing round of €15.2M in October 2015. The existing shareholders Siemens Venture Capital, Statkraft Ventures, Target Partners, Shortcut Ventures and BayBG did not participate again and accepted dilution. Christian Deilmann, CEO of Tado, comments: “We currently have a lot of traction growing at 400% annually in 12 European markets, USA and Singapore. Although we are well-funded thanks to our last round in autumn 2015, Inven Capital presented a great opportunity to strengthen our position in Central and Southeastern Europe and further accelerate our growth and innovation leadership. Our goal is an IPO in a couple of years.”
Read more- 15
- August
2014
Christian Deilmann pitches Tado that recently raised €10M for global expansion
Ecosummit TV: Christian Deilmann pitches Tado at ECO13 London. Since then the Munich-based smart heating startup launched in the UK, developed and kickstarted a smart cooling app – Christian’s original idea – and raised €10M from Target Partners, Shortcut Ventures and other unnamed investors to accelerate their growth and global expansion. Tado is Nest‘s best positioned competitor in Europe. In the last 3 years the team of 40 employees developed a scalable Internet of Things platform that supports 5.000 different types of heating systems and a growing number of air conditioning systems. In the future, Tado will connect other appliances in the smart home, too. In our opinion, a smart home rather needs only one open gateway that communicates with all online devices in the household. The question is who enters and controls the smart home first. It may well be Tado rather than Nest.
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