Greentech startup, Termo based in Italy has secured US$ 10 million funding in a combined series A and B funding round on 18th December 2020.
The round included participation from Fondo Italiano d’Investimento SGR through their managed funds FITEC Lazio and FITEC, and was joined by other investors like the incubator Supernova Hub, mass media enterprise Mediaset, angel investors and managers. The fresh funding will accelerate their growth plans and will be used in fostering their services and product offerings.
Termo is the first Italian enterprise for developing a complete service model for maintenance and installation of air conditioning and heating systems that bring perfect climate to the Italian families with the assurance of environmental and economic sustainability.
Following this funding, a few new representatives are joining Termo. Gabriele Basile, one of the co investor has joined the director’s board as CEO, Alessandro Andreozzi, the co-founder is nominated as the President, and Federico Pozzi Chiesa, the CEO and co-founder of supernova hub will join the directors board and Mauro Pretolani, a senior partner from the Fondo Italiano d’Investimento SGR also join the directors board representing the lead investors of funding FITEC Lazio and FITEC.
Founded in 2014, the startup was initially named as Termostore. They offer a completely digital service platform for the installation and maintenance of sustainable HVAC systems for households. The company has digitized and simplified the HVAC system installation in a fragmented and conservative sector. The company recently has 84 employees with its approximate revenue as €5 million in 2020.
Alessandro Andreozzi, the chairman and Co-founder of Termo said, “Thanks to this investment with which we will be now able to to accelerate our growth plan for innovating and a key domain for the whole Italian energy efficiency plan. The new resources supporting Termo, will improve our growth capabilities while continuously enhancing the services and efficiency on the range of products we offer.”
Built with the aim of greater safety and reduced consumptions for condominiums and families, the company Termo brings the right climate within a few hours. They bring the selection of best available products in the market, by offering best labels, quality, energy efficiency and more savings. An expert is provided by the company who can understand what you need and can advise you and the best solutions for the new systems free of cost. There professional technicians are available for 360 degree services from installation to assistance.
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