Italy-based greentech startup Termo has raised $10 million in what it calls "a combined Series A and Series B funding" round, from Fondo Italiano di Investimento SGR through the funds FITEC and FITEC Lazio, and other investors such as Supernova Hub, Mediaset, managers and angels.
Founded in Fondi, a small city somewhere halfway between Rome and Naples, Termo offers a digital service platform for sustainable HVAC systems installation and maintenance for households. Basically, it has simplified and digitised services in a rather conservative and fragmented sector.
Founded in 2014, the startup was formerly called Termostore. At present, the company employs 84 people, with revenues reaching approximately €5 million in 2020.
Alessandro Andreozzi, co-founder and chairman of Termo, said: "Thanks to this investment, we will be able to accelerate our growth plan to innovate in a key sector for the entire Italian energy efficiency plan. The new resources that will be supporting Termo, will enhance our growth capabilities, while continuously improving our services and the efficiency of our product offering."