Berlin-based smarthome/IoT comparison and shopping platform tink has raised €40 million in a Series D round.
The funding round was led by Cadence Growth Capital, Rocket Internet, and ProSieben's SevenVentures.
"As an international and customer-oriented technology company, tink fits in very well with our investment focus with its IoT commerce platform, growth history and healthy and profitable core business," comments Cadence Growth Capital co-founder and managing partner Leonard Clemens.
The new round of funding is expected to accelerate international growth, expand the company's offering of integrated services, and pursue industrial partnerships.
Co-founded in 2016 by Marius Lissautzki and Julian Hueck tink is an IoT comparison shopping platform with over 700,000 customers and has demonstrated a 100% growth rate for a number of years.
"We founded tink to develop real solutions for the home of the future," says Lissautzki. “The networked home is becoming the standard - just like the smartphone has become on the go. A smart home makes a significant contribution to living safer, more comfortable and more energy-efficient in your own four walls."
In addition to the consumer-facing portal, tink has also developed a business-to-business-to-consumer model, operating as a white label solution. Early investor energy supplier Vattenfall is currently utilising this service.
"We really appreciate the second pillar of tink and with our network of over 100 industry experts we will help bring the B2B2C business into new industries and countries," says Sebastian Eiseler, co-founder and managing partner at Cadence Growth Capital.
Would you like to write the first comment?
Login to post comments