The company previously received investment from Target in November 2011 and February 2012, with Shortcut also joining as part of a group of investors in summer 2012.
Tado’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 according to the company.
CEO Christian Deilmann said, “We are really happy to have both investors on board again.
“Their breadth of experience will be an invaluable asset for our course for growth. In light of Tado’s great success in Germany, we will use part of the funding for our European expansion.”
Last month Munich-based Target Partners hired Michael Kowalzik as a venture partner.
His role will be to “sharpen the firm’s focus” on startups in technology sectors, Target said.
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