Bryan Garnier advises Tado° on $23m Equity Investment from Inven Capital

Munich, April 26th, 2016 – Bryan Garnier has acted as the exclusive financial advisor to tado°, the European market leader in intelligent home climate control, on a $23m equity financing from Inven Capital, the venture capital arm of the ČEZ Group, a multinational energy conglomerate based in the Czech Republic. This brings total funding of the Munich-based IoT company to $57 million and establishes tado° as one of the world’s best-funded IoT startups.
The tado° Smart Thermostat and Smart AC Control products connect any heating and air conditioning system to the internet. The geo-aware tado° smartphone app automatically senses when nobody is at home and turns down the heating or AC to save energy. As soon as one of the residents starts to head home, tado° reacts immediately and warms or cools the house to the desired temperature. Local weather forecasts and adapting algorithms further help to save up to 31% on energy costs, while improving home comfort. To further increase customer benefits, tado° provides complimentary intelligent services.
One-third of the world’s energy consumption is used for the heating and cooling of buildings, while over one billion households have a heating or air conditioning system. “Our products are perfectly matched for the world today. It is only a matter of time until all households have an intelligent heating control,” comments tado° CEO and Co-Founder Christian Deilmann. “We plan to use the new funding to expand our market leadership and develop further services for our users.”
Deilmann goes on to comment: “This is the third consecutive fundraising transaction we’ve closed with Bryan Garnier by our side, marking $52mm in total. When you boil it down, the relationship we’ve built over the past two years is surprisingly simple—not only can I trust that Bryan Garnier always has our best interests in mind, but I can also trust that they will go the extra distance to ensure these interests translate into optimized transaction terms. This is what counts. As a high growth business, tado° is delighted to have found a partner that has the capacity and dedication to support us throughout our lifecycle.”
About tado
tado° is the intelligent climate control for private households, small businesses and shops. It detects where the residents currently are and controls the temperature accordingly. It also takes current weather forecasting data and building characteristics into account. With its fully automatic climate control, tado° not only makes everyday life easier, but it also makes your home or place of work more comfortable and helps you save money and energy.tado° was founded by Christian Deilmann, Johannes Schwarz and Valentin Sawadski in 2011. The team has been working on the development of tado° at the headquarters in Munich since 2010. After going to market in November 2012 and gaining tens of thousands of users in the EU with tado° Heating, the team globally launched tado° Cooling for AC. The name “tado” is derived from the Japanese greetings “tadaima” and “okaeri”. Loosely translated, they mean “I’m home” and “Welcome home”.
(www.tado.com)