DS Electronics

What DS Electronics does

DS Electronics (legal entity ТОВ «ДС Електронікс», headquartered in Kyiv, Ukraine) is a privately held electronics manufacturer founded in 2003 that designs, assembles, and distributes electrical protection devices and temperature-control products under three sub-brands: ZUBR (voltage relays, multifunctional relays, phase switchers, voltmeter-ammeters), terneo (mechanical, digital, programmable, and Wi-Fi smart thermostats for floor heating, infrared panels, boilers, and snow-melting systems), and ZUBR DC (dual-core electric heating cables and mats manufactured in the EU). In-house production runs from a 1,500 m² facility in Kyiv using components from EPCOS/TDK, Samsung, HTC, and Fujitsu; ZUBR DC cables/mats are co-manufactured at a specialized EU factory to DS Electronics specifications. The portfolio exceeds 50 product variants and is certified to EU Low Voltage, EMC, RoHS, and IEC standards in addition to Ukrainian sanitary-epidemiological and conformity requirements.

The company makes money almost entirely through unit-priced hardware sales (thermostats 872–3,225 UAH; voltage relays 935–4,022 UAH; heating cables/mats 2,414–28,745 UAH), distributed through a hybrid channel model: over 600 Ukrainian construction stores and hypermarkets plus its own e-commerce site with free Nova Poshta delivery for direct-to-consumer orders, alongside a wholesale network of over 1,000 dealers across Romania, Poland, Latvia, Lithuania, Moldova, and other markets, with representative offices in Kyiv, Odesa, and Tashkent. Core customer segments are residential homeowners (voltage protection + smart heating), industrial/professional buyers (three-phase relays, phase switches for motors, medical, refrigeration, server rooms), and wholesale distributors. Differentiated features include TrueRMS voltage measurement, ProModel safe-disconnect, thermal protection, geofencing, Google Assistant voice control, and MQTT/HTTP API integrations.

Ownership remains with the two founding brothers (organic growth, no VC or PE backing), the management team is family-led across production and commercial functions, and the company is operating post-recovery from a January 2024 missile strike that destroyed its Kyiv facility but was offset by a full production restart at a new Kyiv address within less than a year. Claims of over 30% annual growth and 44% device-sales growth in 2020 (the year it produced 500,000 devices) point to a mid-sized hardware business scaling geographically and by SKU.

Name

DS Electronics

Legal name

ТОВ «ДС Електронікс»

Website

https://ds-electronics.com.ua

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

DS Electronics is a Ukrainian manufacturer of voltage protection relays (ZUBR), smart and mechanical thermostats (terneo), and electric underfloor heating cables (ZUBR DC), selling to residential homeowners, industrial buyers, and over 1,000 EU dealers across 20 countries.

Ownership category

akta.pro rank

Product category

Electrical Protection and Climate Control Devices

NAICS

Relay and Industrial Control Manufacturing (335314), Electrical Equipment Manufacturing (33531)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Power Conditioners & Voltage Regulators (HDACAJAD)

Keywords

• Voltage relays
• Smart thermostats
• Electric floor heating
• Voltage protection devices
• Heating controllers

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Sales - Thermostats: Sale of terneo branded thermostats including mechanical, digital, programmable, and Wi-Fi models for underfloor heating, infrared panels, electric boilers, snow melting, and cooling systems
2. Hardware Sales - Voltage Relays: Sale of ZUBR branded voltage relays, multifunctional relays, phase switches, and voltmeter-ammeters for protection of residential and industrial equipment
3. Hardware Sales - Underfloor Heating: Sale of ZUBR DC branded dual-core heating cables and mats with 25-year warranty

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

DS Electronics manufactures and distributes electrical protection devices (voltage relays, multifunctional relays, phase switchers, voltmeter-ammeters under the ZUBR brand), smart and mechanical thermostats for underfloor heating, infrared panels, electric boilers, snow melting, and cooling systems (under the terneo brand), and electric underfloor heating cables and mats (under the ZUBR DC brand). The company sells its products through a network of over 600 Ukrainian construction stores and hypermarkets, more than 1,000 dealers in the EU, and its own e-commerce website, exporting to 20 countries across Europe and Central Asia.

Product overview

DS Electronics is a Ukrainian manufacturer of electrical protection and climate control devices, producing products under three sub-brands: ZUBR, ZUBR DC, and terneo. The ZUBR sub-brand covers voltage relays (single-phase and three-phase), multifunctional relays, phase switchers, and voltmeter-ammeters for protecting electrical equipment from voltage, current, and power fluctuations. The terneo sub-brand encompasses smart Wi-Fi thermostats, programmable, digital, and mechanical thermostats for floor heating, infrared panels, electric boilers, snow melting systems, and cooling/ventilation applications. The ZUBR DC sub-brand covers electric floor heating products including dual-core heating cables and mats manufactured in the European Union. The total portfolio exceeds 50 product variants. The ZUBR and terneo product lines are manufactured in-house at the DS Electronics factory in Kyiv, while ZUBR DC floor heating cables and mats are manufactured to DS Electronics specifications at a specialized factory in the European Union. Products are sold primarily in Ukraine and exported to European countries. The company offers a 5-year warranty on ZUBR relays, a 3-year warranty on terneo thermostats manufactured in-house, a 2-year warranty on terneo nx (custom-manufactured), and a 25-year warranty on ZUBR DC floor heating products.

Differentiator

Problem solved

Functional benefit

Brands

• terneo: Thermoregulator brand for controlling heating and cooling systems, including Wi-Fi enabled, programmable, digital, and mechanical models for underfloor heating, infrared panels, electric boilers, snow melting, and cooling/ventilation applications.
• ZUBR
• ZUBR DC

Products and services

• ZUBR Voltage Relays and Electrical Protection Devices Single-phase, three-phase, and multifunctional voltage relays, phase switchers, and voltmeter-ammeters designed to protect residential and industrial electrical equipment (household appliances, three-phase motors, medical equipment, server rooms, refrigeration units, cash registers) from voltage, current, and power deviations. Features include TrueRMS measurement, ProModel safe-load disconnection, built-in thermal protection, 0.1-second phase switching, and event-log memory of up to 100 deviation values. Sold under the ZUBR brand and manufactured in-house in Kyiv.
• terneo Thermostats and Temperature Controllers Smart Wi-Fi, programmable, digital, and mechanical thermostats for underfloor heating, infrared panels and convectors, water underfloor heating, electric boilers, snow melting and anti-icing systems, and cooling and ventilation. Wi-Fi models feature terneo app control, MQTT and HTTP API integration, Google Assistant voice control, geofencing, weekly scheduling with up to 16 periods per day, and energy-consumption statistics. Sold under the terneo brand and manufactured in-house in Kyiv.
• ZUBR DC Electric Underfloor Heating (Cables and Mats) Dual-core (bipolar) heating cables and heating mats for electric floor heating systems, manufactured in the European Union to DS Electronics specifications. Features dual-layer insulation (FEP and HDPE), class M1 mechanical resistance, IPX7 moisture protection, and a 25-year warranty with service life exceeding 50 years. Available in a range of lengths and wattages (160W to 2,640W for mats) plus a self-regulating heating cable (SH) variant rated at 67 W/m, 110 W/m, and 220 W/m per linear meter.
• ZUBR S6 Phase Switcher (Phase Prioritizer) Single-phase phase switcher (prioritizer) that selects the best of three incoming phases based on voltage stability and switches in 0.1 seconds to provide uninterrupted power supply to priority equipment in three-phase networks with unstable voltage. Part of the ZUBR voltage-relay product line.
• terneo bx Smart Wi-Fi Thermostat Smart Wi-Fi thermostat for floor heating control with capacity up to 7,000 VA, designed for installation in a distribution cabinet on DIN rail. Remotely controllable via the terneo app with energy-consumption statistics, geofencing, MQTT and HTTP API integration for third-party smart home systems, and voice control via Google Assistant.

Quantifiable outcome

• Energy savings up to 50% with programmable thermostat scheduling
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and strategic.

• Nova PoshtacoreChannel Partner/ Reseller/ DistributorPrimary logistics partner providing delivery services across Ukraine. DS Electronics offers free delivery to all Nova Poshta branches for retail customers and free delivery for wholesale orders over 20,000 UAH.
• EPCOS (TDK Electronics)strategicTechnology or IntegrationPrimary supplier of capacitors for ZUBR relays. EPCOS (TDK) capacitors are 3-4 times slower in capacity loss, extending product lifespan 3-4 times compared to alternatives.
• SamsungstrategicTechnology or IntegrationComponent supplier for ZUBR relays and terneo thermostats. Samsung components used in manufacturing electronic control circuits.
• HTCstrategicTechnology or IntegrationComponent supplier for terneo thermostats and ZUBR relays. Provides electronic components used in PCB assembly.
• FujitsustrategicTechnology or IntegrationComponent supplier for terneo thermostats. Provides electronic components meeting high quality standards for consumer and industrial applications.
• EU-based Heating Cable FactorycoreStrategic or Co-development PartnerManufacturing partner producing ZUBR DC dual-core heating cables and mats according to DS Electronics specifications. Factory has over 20 years of experience, modern equipment, and high automation ensuring quality consistent with European standards.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Finder S.p.A. Finder is a European specialist in relay, timer, and monitoring devices including voltage monitoring relays for industrial and residential use. Closely comparable to DS Electronics' ZUBR multifunctional and voltage relay portfolio.
• Salus Controls: Salus Controls specializes in smart thermostats, wireless heating controls, and underfloor heating controllers sold primarily in the UK and EU. Direct overlap with terneo in target customer (electricians, homeowners) and product category.
• Computherm: Computherm is a Hungarian manufacturer of wireless thermostats, voltage protection relays, and underfloor heating controls serving the CEE market. Highly comparable in geography, product mix, and target customer to DS Electronics' terneo and ZUBR offerings.
• OJ Electronics: OJ Electronics manufactures floor heating thermostats, snow-melt controllers, and electric heating controls. Closely comparable to terneo's underfloor heating and snow melting product families (terneo sneg, terneo pro).
• Hager Group: Hager manufactures DIN-rail mounted voltage protection relays, smart thermostats, and wiring accessories for residential and light-commercial buildings across Europe. Most directly overlaps with DS Electronics' ZUBR and terneo product lines in form factor, channel, and customer.

Broad incumbents

• Schneider Electric: Schneider offers voltage protection relays, smart thermostats (Wiser, Schneider Electric Heating), and electrical distribution devices. Overlaps with terneo and ZUBR product lines across residential and industrial segments globally.
• Danfoss: Danfoss is a major producer of heating controls, smart thermostats, and underfloor heating systems under brands like DEVI and Icon. Comparable to ZUBR DC (heating cables and mats) and terneo thermostat lines but serving a much larger global footprint.
• Eaton: Eaton's electrical sector covers surge protection, voltage monitoring relays, and power conditioning products targeted at both industrial and residential customers. Competitor in the power-quality category that DS Electronics serves with ZUBR relays.
• ABB: ABB is a global leader in electrification equipment including voltage relays, surge protection, smart building controls, and DIN-rail devices. Competes with DS Electronics on ZUBR-class products across the EU but as part of a much broader portfolio including industrial motors and grid equipment.
• Legrand: Legrand offers smart thermostats, DIN-rail mounted protection devices, and electrical wiring accessories across residential and commercial markets. Overlaps with both ZUBR (electrical protection) and terneo (climate control) product categories at smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about DS Electronics