Tado, a Munich, Germany-based provider of intelligent home climate control solutions, raised $17.1m in vc funding.
Backers included the venture capital unit of Siemens AG, Statkraft Venture Capital, Target Partners, Shortcut Ventures, BayBG and others.
The company, which has raised $34m in total funding to date, intends to use the capital to expand operations.
Founded in 2011 by Christian Deilmann, CEO, tado° provides the Smart Thermostat and Smart AC Control products, which connect any heating and air conditioning system to the internet. The geo-aware tado° smartphone app automatically senses when nobody is at home and turns down the heating or AC to save energy. As soon as one of the residents starts to head home, tado° reacts immediately and warms or cools the house to the desired temperature.