Amazon, Eon and Čez Group have backed a $50m funding round for smart thermostat manufacturer Tado that nearly doubled its equity to $102m.
Tado, a Germany-based home climate management platform developer, has raised $50m from investors including e-commerce group Amazon and energy utilities Eon and Čez Group.
The round also featured Total Energy Ventures, a subsidiary of oil and gas producer Total, as well as Energy Innovation Capital, European Investment Bank and unnamed additional backers. Čez Group took part through its corporate venturing unit Inven Capital.
Founded in 2011, Tado has developed a system that consists of a smart thermostat, air conditioning control…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
