Tado takes on Google-owned Nest
The battle to solve the world's energy crisis is hotting up as companies compete to find innovative solutions to common household inefficiencies.
One high-profile organisation leading the charge is Nest, a US-based startup. Its automated thermostat system was so revolutionary that Google splashed out $3.2bn to acquire the company. However, it looks like competition in the space is set to increase, as German startup Tado has just raised €10m, giving it the fuel needed to bring its offering to a grander stage.
The Munich-based business has developed a thermostat control device it claims will make it "the leader in intelligent climate control". Tado can link up to a domestic heating system and alter the temperature remotely using the thermostat control and mobile app, which detects whether the user is in the house or not. And the innovative startup is now rolling out a similar product for air conditioning, with considerable demand emerging from across southern Europe, Singapore and the East Coast of the US.
With new sales channels established and secure funding in place, this enterprising David can quickly scale up and disrupt the energy market. Given the successful precedent set by Nest, it'll be no surprise if a Goliath soon comes knocking at Tado's door.