European smart thermostat startup Tado raises $46.9M after IPO plans falter

News Summary

  • As a 12 year old company with around $200 million in funding, some sort of exit seems a little overdue — its previous round of funding in 2021 was intended to be its final raise before it explored a sale or public listing.
  • “So far, our focus was on reducing energy demand, now with our smart energy tariffs we also help to reduce the cost of energy.
  • With a smart energy tariff, special heat pumps are controlled in a way that they avoid running during hours of a day in which energy prices are high.
  • So can we expect an IPO — SPAC or otherwise — in the future?“Whilst we do want to consider the public listing of Tado in the future, we have no updates in this regard, whether publicly listing ourselves, or via a SPAC,” Deilmann said.
Smart home energy startup Tado has raised 43 million ($46.9 million) in a round of funding led by Trill Impact Ventures, as the company pursues plans to become profitable in 2023.The raise comes a [+4504 chars]