Due to the CO2 tax that came into effect at the beginning of the year, tenants and landlords in Germany are facing new costs: Since January, they have been required to pay €25 for every ton of CO2 emitted. The German government has thus created new incentives to invest in energy efficiency technology such as that from Tado. The Munich-based startup offers intelligent climate management solutions for consumers and businesses. These include smart thermostats for heating and air conditioning systems, smartphone applications, and SaaS products for energy suppliers and heating service providers. The startup also works with most of the 20 largest energy suppliers in Europe, supporting them in their transformation from pure energy suppliers to holistic energy service providers.
Now the residential construction industry is to become a new market segment for Tado. the Munich startup has joined forces with the Noventic Group to jointly develop and market new solutions for the real estate industry. The newly raised capital will be used for the development of new technologies for sustainable heat generation as well as for OEM solutions for heating and air conditioning manufacturers. The company also intends to open up new markets.
"We are delighted to launch new Proptech solutions for the residential construction industry together with the Noventic Group. The group brings a wealth of experience in this sector,"
says Tado CEO Toon Bouten.
“As a leading company in intelligent indoor climate management, we at Tado are in an excellent position to bring our energy-efficient solutions to this rapidly evolving market.”
Noventic-Managing Director Dirk Then explained:
"Against the backdrop of European climate targets, we want to combine consumption data with intelligent consumption control in order to better support the professional housing industry in implementing its energy-saving strategies in residential areas."
And the Noventic CFO Stephan Bause added:
“With this strategic investment, we are expanding our solution portfolio together with Tado to include a market-leading smart climate control solution for private households.”
