# Thermondo funding: rounds and investors > Thermondo has raised $64M across 4 rounds since 2013. Investors include IBB Beteiligungsgesellschaft, e.on and Grey Corp GmbH. Every round with its source. Source: https://millionrounds.com/company/thermondo (Millionrounds; every figure on the page links to its filing or article) Germany · [Funded startup](https://millionrounds.com/companies) # Who invested in *Thermondo* 4 rounds we have observed, with the 9 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Energy Funding summary Updated 26 Oct 2026 **$64M** raised across 4 rounds since 2013, from 4 sources **$6.4M** Series B **$58M** Debt - **Latest round:** Debt, $58M Jul 2025 - **Step-up i:** 9.1× - **Investors:** 9 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2013 2015 2017 2019 2021 2023 2025 **?** Seed **?** Series A **$6.4M** Series B **$58M** Debt - **First round:** Seed - **Biggest round:** $58M - **Usual gap between rounds:** 14 months ## The rounds - **Jul 2025** Debt **$58M** *4 new* [Global Founders Capital](https://millionrounds.com/fund/global-founders-capital) [HV Capital](https://millionrounds.com/fund/hv-capital) [Picus Capital](https://millionrounds.com/fund/picus-capital) [IBB Ventures](https://millionrounds.com/fund/ibb-ventures) Source recorded - **Apr 2015** Series B **$6.4M** *2 new* *3 returning* [Rocket Internet](https://millionrounds.com/fund/rocket-internet-6) [HV Holtzbrinck Ventures](https://millionrounds.com/fund/hv-holtzbrinck-ventures) [IBB Beteiligungsgesellschaft](https://millionrounds.com/fund/ibb-beteiligungsgesellschaft) [e.on](https://millionrounds.com/fund/e-on) [Grey Corp GmbH](https://millionrounds.com/fund/grey-corp-gmbh) From a historical funding record - **Sept 2014** Series A **Amount undisclosed** *1 new* *1 returning* [IBB Beteiligungsgesellschaft](https://millionrounds.com/fund/ibb-beteiligungsgesellschaft) [e.on](https://millionrounds.com/fund/e-on) From a historical funding record - **Jul 2013** Seed **Amount undisclosed** *2 new* [IBB Beteiligungsgesellschaft](https://millionrounds.com/fund/ibb-beteiligungsgesellschaft) [Grey Corp GmbH](https://millionrounds.com/fund/grey-corp-gmbh) From a historical funding record ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Seed** 2013 **Series A** 2014 **Series B** 2015 **Debt** 2025 [IBB Beteiligungsgesellschaft](https://millionrounds.com/fund/ibb-beteiligungsgesellschaft) [e.on](https://millionrounds.com/fund/e-on) [Grey Corp GmbH](https://millionrounds.com/fund/grey-corp-gmbh) [Global Founders Capital](https://millionrounds.com/fund/global-founders-capital) [HV Capital](https://millionrounds.com/fund/hv-capital) [Picus Capital](https://millionrounds.com/fund/picus-capital) [IBB Ventures](https://millionrounds.com/fund/ibb-ventures) [Rocket Internet](https://millionrounds.com/fund/rocket-internet-6) [HV Holtzbrinck Ventures](https://millionrounds.com/fund/hv-holtzbrinck-ventures) ## Everyone who backed them [IBB Beteiligungsgesellschaft](https://millionrounds.com/fund/ibb-beteiligungsgesellschaft) Investment firm **3** rounds [e.on](https://millionrounds.com/fund/e-on) VC firm **2** rounds [Grey Corp GmbH](https://millionrounds.com/fund/grey-corp-gmbh) Investment firm **2** rounds [Global Founders Capital](https://millionrounds.com/fund/global-founders-capital) VC firm **1** round [HV Capital](https://millionrounds.com/fund/hv-capital) VC firm **1** round [Picus Capital](https://millionrounds.com/fund/picus-capital) VC firm **1** round [IBB Ventures](https://millionrounds.com/fund/ibb-ventures) Government **1** round [Rocket Internet](https://millionrounds.com/fund/rocket-internet-6) Investment firm **1** round [HV Holtzbrinck Ventures](https://millionrounds.com/fund/hv-holtzbrinck-ventures) Private equity **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=thermondo). ## Also claim to have backed them These 4 firms list Thermondo as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [10x Founders](https://millionrounds.com/fund/10x-founders) VC firm Per its own site [Future Energy Ventures](https://millionrounds.com/fund/future-energy-ventures) VC firm Per its own site [Vorwerk Ventures](https://millionrounds.com/fund/vorwerk-ventures) VC firm Per its own site [Vorwerk Direct Selling Ventures](https://millionrounds.com/fund/vorwerk-direct-selling-ventures) Growth equity Per its own site ## Quick answers about Thermondo ### Who invested in Thermondo? Thermondo's investors include IBB Beteiligungsgesellschaft, e.on, Grey Corp GmbH, Global Founders Capital and HV Capital, and 4 more on record. ### How much has Thermondo raised? Thermondo has raised $64M across 4 rounds since 2013. 2 rounds did not disclose an amount, so the total is a floor. ### When did Thermondo last raise? Thermondo's most recent round was a Debt of $58M in Jul 2025. ### What was Thermondo's biggest round? Its most recent round, $58M in Jul 2025, is also its largest on record. ### Who backed Thermondo first? Thermondo's first round on record, in Jul 2013, was backed by IBB Beteiligungsgesellschaft and Grey Corp GmbH. ### What stage is Thermondo at? Thermondo's latest named round is a Debt, in Jul 2025. ### Where is Thermondo based? Thermondo is based in Germany. ## Companies like Thermondo In the same sector, and raised in the last eighteen months. [**Rabot Energy** $50M · Oct 2026](https://millionrounds.com/company/rabot-energy)[**Reverion** $237M · Sept 2026](https://millionrounds.com/company/reverion)[**Nomos** $25M · Sept 2026](https://millionrounds.com/company/nomos)[**Proxima Fusion** $636M · Jul 2026](https://millionrounds.com/company/proxima-fusion)[**Anzana Electric Group** $40M · Jun 2026](https://millionrounds.com/company/anzana-electric-group)[**GALVANY** $12M · Jun 2026](https://millionrounds.com/company/galvany) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app