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

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 year after the German company announced plans to go public (“deSPAC”) via a special purpose acquisition company (SPAC), plans that ultimately failed to materialize after Luxembourg-based shell company GFJ ESG Acquisition I SE pulled out of the deal in September.
Founded in 2011, Tado is best known for its smart thermostats and platform for managing home heating and cooling systems. The

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