Heating app start-up secures fresh capital

Munich High electricity costs are a burden for most companies, for the start-up Tado they are a growth driver. “We are benefiting from the high energy prices,” said founder Christian Deilmann of the Handelsblatt. According to industry circles, the start-up’s sales have doubled to around 100 million euros in the past year. A success that Tado has used for a new round of financing.

Under the leadership of the Swedish sustainability fund Trill Impact, Kiko Ventures from London, Swisscanto and Bayern Kapital – the Free State’s venture capital company – have also invested a total of 43 million euros in the company. The value of the energy start-up is now estimated in the industry to be in the mid three-digit million range.