Munich, October 20, 2015 – Bryan, Garnier & Co GmbH (former Cartagena Capital) has acted as the exclusive financial advisor to tado°, the European market leader in intelligent home climate control, on a $17.1m equity financing from Siemens Venture Capital, BayBG, and Statkraft Ventures. Existing investors Target Partners and Shortcut Ventures also participated in the round.
The tado° Smart Thermostat and Smart AC Control products 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. Local weather forecasts and adapting algorithms further help to save up to 31% on energy costs, while improving home comfort. Users also benefit from repair and energy-related services such as the “tado° Care” offering.
tado° CEO, Christian Deilmann, commented: “Cartagena Capital was a tremendous asset to us and provided dedicated support throughout the transaction process, allowing management to focus on running the business. Their extensive network throughout the world enabled us to access the tier one capital we were after.”
About tado° GmbH (www.tado.com)
tado° is the intelligent climate control for private households, small businesses and shops. It detects where the residents currently are and controls the temperature accordingly. It also takes current weather forecasting data and building characteristics into account. With its fully automatic climate control, tado° not only makes everyday life easier, it makes your home or place of work more comfortable and helps you save money and energy.tado° was founded by Christian Deilmann, Johannes Schwarz and Valentin Sawadski in 2011. The team has been working on the development of tado° at the headquarters in Munich since 2010. After going to market in November 2012 and gaining tens of thousands of users in the EU with tado° Heating, the team globally launched tado° Cooling for AC.The name "tado" is derived from the Japanese greetings "tadaima" and "okaeri". Loosely translated, they mean "I'm home" and "Welcome home".
About Bryan, Garnier & Co (www.bryangarnier.com)
Bryan, Garnier & Co is an independent investment bank specialized in European TMT, Healthcare and Renewable Energies growth companies. Bryan, Garnier & Co is positioned in three activities: Equity Research & Brokerage, Asset Management and Corporate Finance. Bryan, Garnier & Co has become a leader in advising European growth companies on strategic finance transactions such as mergers & acquisitions, equity capital market, LBOs, IPOs and private placement.With more than 150 professionals based in London, Paris, Munich, Geneva, New York and New Delhi, Bryan, Garnier & Co combines the range of services and the expertise of top-tier investment banks with the level of attention to clients of a boutique.
In January 2016, Bryan, Garnier & Co announces the merger with premier technology advisory boutique Cartagena Capital GmbH.