Munich – Technology company tado GmbH has completed another international round of financing worth a total of USD 50 million. New investors include Amazon, E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital and the European Investment Bank. Total funding now stands at USD 102 million. The Munich-based company plans to use the new capital to further expand its market position, drive forward product development and invest in new services.
A venture capital team from CMS’s Munich office headed by lead partners Stefan-Ulrich Müller and Dr Oliver Thurn advised tado° on all legal aspects of the financing round. The European Investment Bank was among the investors, in addition to conventional venture capital providers and corporate venture investors. In the past, tado° has also relied on CMS’s expertise in commercial law. The Munich team has acted as advisor on the legal side for the majority of German companies that have raised funds through the European Investment Bank, most recently for eGym, Evotec and Curetis.
Headquartered in Munich, tado GmbH was established in 2011 and now has 180 employees. With its smart thermostats for heating and air conditioning, tado° is the climate assistant for the home. The aim of the product is to significantly reduce heating and cooling costs and to create a more comfortable living space and a healthy indoor environment for the consumer.
CMS Germany
Dr Oliver Thurn, Lead Partner, Corporate
Stefan-Ulrich Müller, Lead Partner
Dr Tilman Weichert, Partner
Karen Eldred, Senior Associate
Maximilian Mersch, Senior Associate
Marcel Nurk, Senior Associate
Anton Hieber, Associate
Sabine Renz, Associate, all Corporate/Venture Capital
Peter Endres, Partner
Anna-Luise von Prittwitz und Gaffron, Associate, both Commercial
Dr Philipp Nonnenmühlen, Associate, Labor, Employment & Pensions
Dr Reemt Matthiesen, Partner
Dr Michael Biendl, Associate, both TMC
Stefan Lüft, Partner
Theresa Dörendahl, Senior Associate, both Intellectual Property
Florian Block, Partner, Compliance
Stefan Lehr, Partner, Competition & EU
