Dandelion Energy, a company specializing in geothermal heating and cooling for homes, has raised $40 million in a Series C funding round. The investment was led by GV (formerly Google Ventures), with support from Collaborative Fund, LenX, Breakthrough Energy Ventures, and NGP. This funding will aid the company’s efforts to scale its heat pump technology, with a focus on multifamily developers and residential home builders. It also marks the next phase of growth for Dandelion as it works on large residential and multifamily projects, aligned with the shift toward energy-efficient, electrified homes. Prior to this, Dandelion raised $70 million in a Series B1 round in 2022.
Dandelion’s geothermal technology offers a cost-effective and energy-efficient alternative for heating and cooling, which has positioned the company as a key partner for builders and developers. CEO Dan Yates highlighted their ongoing projects in single-family developments and multifamily complexes nationwide. The company’s latest product, the Dandelion Geo heat pump, has achieved the highest heating performance rating according to AHRI, an industry standards organization. Erik Nordlander from GV, a repeat investor, credited the company’s strong operational performance and leadership in the geothermal space for its continued growth.
The new funding will also enhance Dandelion’s research and development efforts, making geothermal solutions more accessible to homeowners across the U.S. Lauren Howard, the company’s newly appointed Chief Revenue Officer, will lead the strategy to scale Dandelion’s commercial operations, further positioning the company as a leading player in residential energy. Dandelion remains committed to affordability and environmental sustainability, aiming to reduce dependence on fossil fuels through the broader adoption of geothermal technology.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
