Six million euros for German start-up Thermondo

German Climate-KIC start-up Thermondo, pioneer of the digital revolution in the heat solution and installation market, raised capital from new and existing investors from the energy and digital economy.

Holtzbrinck Ventures and Rocket Internet became shareholders of Thermondo. The two new investors joined E.ON, IBB Beteiligungsgesellschaft and Grey Corp. All investors had participated in the current round to the value of €6 million.

Revolutionary approach

Lars Langusch, partner at lead investor Holtzbrinck Ventures: “The team at Thermondo has managed to digitize a very complex craft service to a very high degree. This revolutionary approach combined with impressive growth convinced us to invest.” The company digitizes the process of the HVAC (heating, ventilation and air conditioning) exchange – from lead generation, sales, installation to after – sales.

This deep vertical integration leads to market disrupting service quality and an outstanding customer experience. At thermondo.de homeowners enter 15 data points about their current heating system and their future needs. An algorithm matches the customer requirements with solutions and provides quotes in real time. In addition to the algorithm, Thermondo created the largest digital product database with millions of solution packages for gas, oil heating systems and for solar based systems.

Fully vertically integrated, locally based teams install the new HVAC system at the customer’s homes. House owners benefit by enjoying an extremely efficient installation process, providing a customized HVAC system – often at prices significantly lower than those of conventional companies.

Digital energy services hold the future

“Digital energy services will change the energy world fundamentally. Therefore, we have confirmed our investment in Thermondo. The current partnership has shown that both sides can benefit: Thermondo gets access to our online channels and E.ON can offer new digital customer-friendly services.

Through the reinvestment in Thermondo we will strengthen our innovation ability”, says Susana Quintana Plaza, Senior Vice President of Technology and Innovation at E.ON.

Thermondo is technology-driven along the value chain: Manufacturers and wholesalers are connected via an interface with the IT of Thermondo, which enables just-in-time delivery of the hardware and simplifies the ordering process. Thermondo is an inventory free company.

The installation teams are connected with a proprietary Android app, which collects all the relevant information for the preparation and management of the installation. Centralized procurement translates into economies of scale at extremely low transaction costs.

Further growth in 2015

“We are happy to welcome Holtzbrinck Ventures and Rocket Internet as shareholders. Both have shown fantastic success as investors. Together with our diverse group of investors, we will scale Thermondo further, so that thousands of homeowners will enjoy a new and better customer experience”, says Philipp Pausder, co-founder and CEO of Thermondo.

The fast growing start up employs 90 people, half at its headquarters in Berlin and the other half in 12 German metropolitan regions. In 2015 more than 140 new hires are planned to support the rapidly growing business.

Thermondo was supported by the German Climate-KIC Accelerator from October 2012 until April 2014.

 
Location
Related Focus Area
Urban Transitions
Articles you may be interested in
In The News
Votes open for the 2021 New European Bauhaus Ideation Awards – Audience Awar...

Do you want to support innovative solutions that integrate...

Votes open for the 2021 New European Bauhaus Ideation Awards – Audience Award
In The News
Brill Power’s new innovation radically increases battery life and storag...

Brill Power, supported by EIT Climate-KIC, has launched the...

Brill Power’s new innovation radically increases battery life and storage capacity
In The News
EIT Climate-KIC CEO Dr. Kirsten Dunlop gives TEDx Talk

EIT Climate-KIC CEO Dr. Kirsten Dunlop delivered a talk,...

EIT Climate-KIC CEO Dr. Kirsten Dunlop gives TEDx Talk
In The News
Putting theory into practice: EIT Climate-KIC Pioneer innovating the Greek mar...

To tackle complex climate challenges, we need a broader...

Putting theory into practice: EIT Climate-KIC Pioneer innovating the Greek maritime sector
In The News
EIT launches call for proposals to boost innovation in Higher Education Instit...

Unlocking the potential of higher education institutions for innovation...

EIT launches call for proposals to boost innovation in Higher Education Institutions
In The News
Dolomites forging climate resilience

The Italian Dolomites, a UNESCO World Heritage Site, are...

Dolomites forging climate resilience
In The News
People-powered resilience: Andalusia announces new climate action plan

The region’s climate action plan has been announced, with...

People-powered resilience: Andalusia announces new climate action plan
In The News
Built by Nature: new initiative to accelerate the transition to sustainable co...

The built environment accounts for close to 40 per...

Built by Nature: new initiative to accelerate the transition to sustainable construction in cities
In The News
The State of California and EIT Climate-KIC advance partnership for climate in...

Glasgow, 8 November – The California Governor’s Office of...

The State of California and EIT Climate-KIC advance partnership for climate innovation
In The News
COP26: UN Climate Change and EIT Climate-KIC partner to establish new Global I...

A new digital Global Innovation Hub has been launched at...

COP26: UN Climate Change and EIT Climate-KIC partner to establish new Global Innovation Hub
In The News
ClimateLaunchpad announces 2021 competition winners

EIT Climate-KIC’s ClimateLaunchpad – the world’s largest green business...

ClimateLaunchpad announces 2021 competition winners
In The News
EIT Cross-KIC New European Bauhaus launches Ideation – Deadline Extended

EIT Climate-KIC has launched a call for ideas on...

EIT Cross-KIC New European Bauhaus launches Ideation – Deadline Extended
In The News
Call for proposals: Scaling the New European Bauhaus Ventures

The European Institute of Innovation and Technology (EIT) has...

Call for proposals: Scaling the New European Bauhaus Ventures
In The News
Glasgow City Region in the race to resilience

Glasgow, which is hosting this year’s UN Climate Change...

Glasgow City Region in the race to resilience
In The News
Gipuzkoa’s quest for sustainability

Gipuzkoa, the smallest Spanish province located in the Basque...

Gipuzkoa’s quest for sustainability
In The News
EIT Climate-KIC to host week-long celebration of climate innovators

The EIT Climate-KIC Week of Action will celebrate, recognise...

EIT Climate-KIC to host week-long celebration of climate innovators
In The News
EIT Climate-KIC launches new series of circular economy courses

As companies and practitioners around the world are looking...

EIT Climate-KIC launches new series of circular economy courses
In The News
NetZeroCities: the new project leading European cities’ transition to net-ze...

Starting in October 2021, the new project NetZeroCities will...

NetZeroCities: the new project leading European cities’ transition to net-zero emissions by 2030
In The News
In the face of complex challenges, Europe stronger together, says EU President...

European Commission President Ursula von der Leyen outlined her...

In the face of complex challenges, Europe stronger together, says EU President von der Leyen
In The News
New IPCC report reveals urgent need for climate innovation

The IPCC’s Sixth Assessment Report has launched. The report...

New IPCC report reveals urgent need for climate innovation
In The News
Moving beyond ‘brown coal’ in Europe’s rural regions

Together with Partners, EIT Climate-KIC is leading a process...

Moving beyond ‘brown coal’ in Europe’s rural regions
In The News
EU’s “Fit for 55” to spur policy innovation for climate action

The European Commission has released its “Fit for 55”...

EU’s “Fit for 55” to spur policy innovation for climate action
In The News
Munich Re and ERGO invest in EIT Climate-KIC carbon removal programme

Major German corporate group sets the ambition to accelerate...

Munich Re and ERGO invest in EIT Climate-KIC carbon removal programme
In The News
23 pilot projects selected by EIT to unlock higher education’s innovation po...

The European Institute of Innovation and Technology (EIT) has...

23 pilot projects selected by EIT to unlock higher education’s innovation potential in Europe
In The News
Investing in start-ups scales the offering of climate adaptation solutions in ...

A partnership between EIT Climate-KIC and CDC Group, the...

Investing in start-ups scales the offering of climate adaptation solutions in African and South Asian countries
In The News
Irish Aid extends support for innovation and development from the ground up

The Government of Ireland’s development assistance programme, Irish Aid,...

Irish Aid extends support for innovation and development from the ground up
In The News
EIT Climate-KIC showcases climate innovation at R&I Days

EIT Climate-KIC participated in the European Commission’s Research and...

EIT Climate-KIC showcases climate innovation at R&I Days
In The News
Branch Magazine wins Ars Electronica Award for Digital Humanity

Branch Magazine, a collaboration between EIT Climate-KIC, Mozilla Foundation...

Branch Magazine wins Ars Electronica Award for Digital Humanity
In The News
Cross-KIC project to boost circular economy in Western Balkans

The circular economy concept is of crucial importance to...

Cross-KIC project to boost circular economy in Western Balkans
In The News
Exploring new horizons with Pioneers into Practice

Enrolment is now open for placement hosts and participants...

Exploring new horizons with Pioneers into Practice