Panasonic invests $32.8 million in Matter thermo vendor Tado

On Monday, Panasonic announced a substantial investment of 30 million euros ($32.8 million) in German smart home heating vendor Tado. This capital infusion aims to enhance Tado’s mission to deliver better energy management solutions, particularly as the company looks to expand its footprint to more markets like the US.

Ongoing partnership

The investment follows a partnership established in March 2024 that combined Panasonic’s advanced air-to-water (A2W) heat pump technology with Tado’s smart thermostats. This collaboration has allowed both companies to optimize heating systems for improved energy efficiency and reduced carbon emissions, according to the official announcement.

As part of the investment agreement, Panasonic will join Tado’s board to facilitate closer operational collaboration. The two companies plan to develop advanced control software for Panasonic’s Aquarea Heat Pumps, targeting up to a 30% reduction in energy consumption. Currently, Tado’s Matter-compatible heating systems are primarily designed for European markets, but this investment may enable a move into the US market where demand for energy-efficient solutions is high.

Tado and Matter

Tado, which has become a prominent player in the European smart energy market since its founding in 2011, specializes in smart thermostats and energy management solutions. The company serves approximately one million households with its products, which utilize the Matter protocol for interoperability across a wide range of smart home devices. Tado focuses on integrating real-time data and user preferences to optimize heating control.

It has introduced a whole line of Matter-compatible energy management devices with a sleek design, including climate sensors, smart radiator thermostats, and Thread border routers. Notably, Tado is one of a few adventurous vendors using Espressif chipsets to make Thread devices, which are still young compared with popular options from Silicon Labs and Nordic. But they have provided unique offerings in Matter like device binding. For instance, you can use Eve Thermo Control to bind with a Tado X unit for temperature control. 

Appliance giants’ move for Matter

Matter has offered a chance for small to mid-sized firms in the market with simplified certification and compatibility. The standard also reduces the development cost of the app. And it’s the period when we spot some major companies starting to invest, acquire, or merge with such Matter device makers.

Korean appliance maker LG acquired Homey’s parent company Athom last year and soon announced a new hub with Matter support for the local market. Chinese lighting giant FSL announced plans to acquire smart light vendor Yeelight in October, aiming to strengthen its compatibility in the smart lighting market. Back in 2023, ABB acquired the notable Matter-over-Thread device maker Eve System. As Matter the standard grows, it is promising to see more support and investment to push it further in the smart home market.

(Source: Panasonic)