Munich-based venture capital firm Target Partners has invested in home climate control company tado°.
The company’s technology utilises cloud computing, smart phones and the web, to improve on traditional home heating and cooling systems, reducing energy costs by around 30 per cent.
“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,” said Kurt Mueller at Target Partners.
With €225m under management, the firm focuses on early stage venture capital in Germany.
In October of last year, Target added to associates to its team to focus on software and technology investment.
In June 2011, the firm joined a host of existing investors in a $17m investment round for JouleX, an energy management company.
Copyright © 2012 AltAssets