Posted 03 April 2023
tado° announces further funding from S2G Ventures, alongside 43 million euros from earlier this year, in a financing round led by Trill Impact’s Venture Capital Strategy.
MUNICH, 4th April 2023 - tado°, the European leader in intelligent home climate management, today announced a further 12 million euros in funding from S2G Ventures (“S2G”), adding to previous funding from January 26, 2023. This investment brings the total funding round to 55 million euros. The company will use the funding to scale up alongside its recent years of strong growth and continue its course for profitability in 2023. S2G, a leading multi-stage investment firm based in the United States, joins the January investors.
“We’re thrilled to be joined by S2G Ventures, a highly respected firm whose vision for a more humane and healthy planet strongly resonates with Trill’s impact mission. With an additional €12m in investments, we believe tado° will be able to accelerate its climate impact and commercial progress, and we see the continued interest from other investors as a testament to that.” - Dr. Alexander Domin, Partner and Co-Head of Trill Impact Ventures
Since its founding in 2011, tado° has built consumer-friendly and energy-efficient smart thermostats and services, that only heat when and where it is necessary. In 2022, tado° doubled its smart thermostats and service sales as homes across Europe seek to improve energy efficiency. The company continues its fast growth, on track to achieve profitability in 2023.
tado° will expand its offering of in-home energy management by combining its Smart Thermostats with Time-of-Use energy tariffs. Such bundled offerings enable the shifting of a home’s energy use toward times of lower-priced energy, thereby unlocking significant further savings. To kickstart this opportunity, tado° acquired aWATTar GmbH, the pioneer of energy load shifting and Time-of-Use energy tariffs. The combined business now plans to drastically scale its bundled offering and enable warm homes at the lowest possible cost and CO2 emissions.
Dr. Alexander Domin, Partner and Co-Head of Trill Impact Ventures