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European home climate control service Tado gets $17.1 million in financing round led by leading venture capital funds and European blue chip companies

European market leader in intelligent home climate control, tado°, announced a $17.1 million financing round from leading venture capital funds and European blue chip companies. This brings its total funding to $34 million. The venture capital unit of Siemens AG and Statkraft Venture Capital, the investment company of Europe’s largest producer of renewable energy, have invested alongside the venture capital funds Target Partners, Shortcut Ventures, BayBG and others. The tado° Smart Thermostat and Smart AC Control products connect any heating and air conditioning system to the internet. The geo-aware tado° smartphone app automatically senses when nobody is at home and turns down the heating or AC to save energy.


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