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Bryan Garnier advises tado° on USD23, equity investment from Inven Capital

Bryan Garnier has acted as the exclusive financial advisor to tado°, the European market leader in intelligent home climate control, on a USD23 million equity financing from Inven Capital, the venture capital arm of the ČEZ Group. 

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 per cent on energy costs, while improving home comfort. To further increase customer benefits, tado° provides complementary 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,” says 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.

 “This is the third consecutive fundraising transaction we ́ve closed with Bryan Garnier by our side, marking USD52 million 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 optimised 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.” 

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