Dandelion Energy, a US-based home geothermal company, has raised $30m in its series B round.
Venture capital firm Breakthrough Energy Ventures led the B round with participation from existing investors, including strategic investors GV (formerly known as Google Ventures, one of Alphabet’s corporate venturing units) and real estate developer Lennar Corporation, venture capital firms NEA, Collaborative Fund, Building Ventures, Catchlight Ventures, and Ground Up Ventures.
This brings the company’s total to $65m after spinning out from search engine provider Google’s parent company Alphabet’s X lab in May 2017. It raised $12m in its series A-1 round in January 2020 as part of an expansion of operations into Connecticut. This came a year after the $16m A round closed from a consortium led by Comcast Ventures.
Carmichael Roberts, a member at Breakthrough Energy Ventures while also founder and managing partner at Material Impact, said: “Dandelion’s geothermal heat pumps provide an efficient electric heating and cooling system that lowers the cost of heating and cooling for homeowners, no matter their region or climate.”
