tado° raises €38m and announces a partnership with noventic

Funding | International | Property & Construction | South East | Technology

tado

tado° today announces a new investment of €38m, raised from noventic and existing shareholders. tado° and noventic will enter a strategic partnership to develop and distribute new energy-efficient proptech solutions for the commercial housing market.

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The investment will also be used to drive technologies for sustainable heat generation, OEM solutions for heating and cooling manufacturers, and for expanding into new markets.

The commercial housing market is set for digitisation and consists of over 50 million homes in Europe, which are managed by real estate companies and municipalities. The European Green Deal is putting political pressure on the sector to digitally transform and to manage its energy consumption significantly more efficiently through new technology. Real estate companies are adopting innovation faster than ever. 81% of real estate organisations plan to use new digital technologies in traditional business processes and spending on tech and software is continuously growing.

With its intelligent home climate management, tado° provides solutions for consumers and businesses. This includes smart thermostats for heating and air conditioning systems, mobile consumer applications, as well as SaaS products for energy utilities and heating service companies.

Today tado° partners with the majority of the top 20 utilities across Europe to help transform them from being an energy commodity supplier to becoming strongly positioned as energy service providers. The commercial housing market shall become a new market segment on the company’s mission to digitise the vast majority of buildings.

“The partnership with noventic will kickstart new proptech solutions for the commercial housing market and we’re thrilled to be partnering with noventic who have a wealth of experience in this sector,” says tado° CEO Toon Bouten. “As a leader in intelligent home climate management, tado° is in an excellent position to bring our energy-efficient solutions to this rapidly-transforming market.”

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