Smart-home startup Tado finalizes its Kickstarter bid with huge success

tado-screenMunich-based Tado is one company hoping to bring homes into the future with apps for controlling your heater and AC unit. It is not new on the scene, having been founded in 2011 and already releasing their heating app in May 2013. They started out focusing on the German, Austrian, and Swiss markets, but expanded to the UK the following year and went global after that. But what is interesting is that, despite solid financial backing, the company has just recently, and very successfully,  completed Kickstarter campaign to fund their latest project, an app that allows users to control their AC with their phones.

Tado is an interesting case because they already obtained significant financial backing to the tune of $2.6 million in a seed round last September before running their campaign earlier this year. The investors in that round were Munich-based Target Partners and Hamburg-based Shortcut Ventures, who came back and joined until investors to provide them with another 10 million Euro last month. According to the press release at the time, this latest major round will be directed towards strengthening their market position in Europe.

The app promoted would allow users to remotely set the turn on their air-conditioning unit, set it to turn on so that the house cools as you arrive home, set the humidity so that the unit maintains a constant environment, etc. They are selling their own unit, with sensors for monitoring the proximity of the user (and others) to the house, temperature, and humidity, a WiFi module, an infrared emitter, and more, but you do not need to download the companion app in order to use the service. Rather, the company claims that any remote for a remote-controlled AC unit can be configured to work with their box.

The campaign, which raised just over $205K (after they aimed for $150K) from 1,600 backers, ended in June and the company aims to ship the units to backers in September. When the devices go on sale, people can grab one for $149 and then download the free app.


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