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Statkraft Ventures makes first investment

07 Oct, 2015

Statkraft Ventures announced today that it has invested EUR 2 million in smart thermostat firm tado° GmbH jointly with a syndicate of the renowned venture firms Target Partners, Shortcut Ventures, the Venture Capital Unit of Siemens and BayBG.

Statkraft Ventures GmbH is a venture capital firm working with exceptional entrepreneurs disrupting the energy sector. The company was set up earlier this year, with EUR 10 million to invest each year in energy related start-ups.

The tado° Smart Thermostat and Smart AC Control products connect old and new heating or air conditioning systems to the internet.

"Statkraft Ventures sees great value in tado° offering a platform to manage and optimise a large base of distributed devices for their customers. Their potential to transform the energy markets is huge. We are happy to support tado°s growth by offering both financing and access to Statkraft’s market and service expertise," says Matthias Dill, Managing Director of Statkraft Ventures.

"We appreciate Christian Deilman, CEO of tado° GmbH and his team being great entrepreneurs. The way they operate their business at this start-up stage is very impressive. We are very much looking forward to working with them," Dill adds.

Read more about the investment on the Statkraft Ventures web site.