Global private equity and venture capital news and research

Target, Shortcut up investment in smart thermostat company Tado

16 Jul 2014

tadoTarget Partners and Shortcut Ventures have renewed their commitment to German smart thermostat company Tado by backing a €10m financing round.

The business makes products which automatically adjust heating or air-conditioning systems to user needs, with the app recognising when users are leaving or approaching home and setting the temperature accordingly.

Tado says its control strategy, which takes into account weather forecasts, house characteristics and smart algorithms, can reduce household energy costs by more than 30 per cent.

In January Google bought private equity-backed smart home automation company Nest Labs for $3.2bn.

The company, which was launched in 2010, previously secured financing from corporate venturing group Google Ventures.

Google Ventures led Nest’s Series B round of financing in May 2011, and the company’s Series C in 2012.

Copyright © 2014 AltAssets

AltAssets Mobile App

To access the latest private equity news and stories download the new AltAssets mobile app from the

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2015