50 MILLION DOLLARS: TADO RECEIVES GRANTS FROM AMAZON, E.ON & CO.

The Tado brand is known above all for its smart heating thermostats. Now the company is receiving a financial injection from large companies and the European Investment Bank. With the new 50 million US dollars, the Munich-based company wants to strengthen its market position.

Amazon, E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital, the European Investment Bank and other companies have invested in the Munich-based manufacturer of smart electronics. With the financial injection of 50 million US Dollar the enterprise comes up-to-date on a total financing of 89 million euro according to current press release.

Tado belongs to the large ones

About one third (30 percent) of the energy used worldwide is used for heating and cooling buildings. The German manufacturer Tado sees a correspondingly strong market here, in which one can still grow considerably. The company is right: an annual growth rate of 54 percent for smart heating is forecast until the end of 2022.

How the technology works

The smart thermostats from Tado connect heaters and air conditioners to the Internet. An app on the smartphone detects as soon as the residents leave the home or approach it again or a window is open and sets the temperature accordingly efficiently. In addition, weather forecasts and self-learning algorithms help to save up to 31 percent on heating costs and at the same time improve comfort and well-being - says the company.

More about Tado

We are invited to Tado on November 02, 2018 and will take a closer look at the products and philosophy of the company. A corresponding assessment by our editorial team will follow.

If you can't wait any longer, you'll find the manufacturer's current products here.