Venture capital for intelligent home climate control
Munich, February 15, 2012 – Munich-based venture capital firm Target Partners (www.targetpartners.de) has invested in tado° GmbH (www.tado.net). Using the power of cloud computing, smart phones and the Web, tado° significantly improves on traditional home heating and cooling systems. tado°‘s intelligent system not only reduces energy costs by around 30 percent, it also makes for a more comfortable climate at home.
Home temperature control for the 21st century “Thanks to tado°, home heating and cooling technology has now leaped into the 21st century,” says Kurt Mueller, partner with Target Partners. A mixture of hardware and software, tado’s solution is offered as Software as a Service (SaaS). “After continual price hikes, Europeans have become very sensitive to energy prices,” says Christian Deilmann, co-founder and Managing Director of tado°. “More than ten percent of households switched gas providers in 2010, for example”.
tado° has been in field trials since January 2011 and its system is being continually refined. The company is now giving selected early adopters the opportunity to beta test the system for free. “We look forward to making our latest advances available to a larger group of users,” says tado° co-founder Johannes Schwarz. “If you’d like a chance to win a free beta test product, please visit www.tado.net and leave us your e-mail address. “The lucky winners will hear promptly from the company. “Even if you don’t win, we’ll keep you informed of the latest developments at tado°, including final product availability,” explained Schwarz.
“The founders of tado° previously founded a successful mobile technology company in 2007 and have a great shot at developing tado° into a world-class company,” says Mueller about the investment decision. Deilmann says he is also happy with the decision to work with Target Partners. “Their breadth of experience will be an invaluable asset for tado°.”
With €225 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in start-up and early stage companies and supports them during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States. For more details: www.targetpartners.de, follow us on Twitter: twitter.com/targetpartners or become a friend on Facebook: facebook.com/targetpartners.
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Munich-based tado° GmbH develops and markets smart home climate control systems. The company’s solutions increase the operating efficiency of home and apartment climate control systems by an average of 30 percent. The savings can pay for the cost of a tado° solution in less than a year, while creating a more comfortable climate in the home. The complete solution offered by tado° includes a hardware-software combination and intelligent system controls. tado° systems are also compatible with all standard heating systems and can be retrofitted. For more information please visit www.tado.net, Twitter: twitter.com/tado or Facebook: facebook.com/tado.net.
Christian Deilmann Kochelseestr. 8-10 81371 Munich
Tel.: + 49 89 416156640 Mail: email@example.com