Siemens and Statkraft combined to support a series B round that boosted the smart thermostat developer's overall funding to more than $35m.
Tado, a Germany-based developer of home climate control technology, secured $17.1m on Wednesday in a series B round featuring industrial equipment manufacturer Siemens and renewable energy producer Statkraft.
The corporates, which invested through their respective Siemens Venture Capital and Statkraft Venture Capital units, were joined in the round by Target Partners, Shortcut Ventures and BayBG.
Tado has created a smart climate system that incorporates a smart thermostat and air conditioning control system that can be controlled using a smartphone app.…
