Dandelion Energy Secures $40 Million Series C to Drive Nationwide Expansion of Geothermal Heat Pumps

Dandelion Energy, a home geothermal heating and cooling company, has raised $40 million in a Series C funding round led by GV (Google Ventures), with participation from Collaborative Fund, LenX, Breakthrough Energy Ventures, and NGP. This latest investment will support the nationwide expansion of Dandelion's heat pump technology, targeting multifamily developers and home builders. The funding will also fuel the company's continued growth as it works on large-scale residential and multifamily projects, capitalizing on the shift toward electrified homes. This round follows Dandelion's $70 million Series B1 raise in 2022.

Dandelion’s geothermal technology aims to provide cost-effective and energy-efficient heating solutions, making it an attractive partner for developers and builders. CEO Dan Yates highlighted the company’s leadership in large-scale projects, noting their involvement in single-family home developments and multifamily complexes across the U.S. The Dandelion Geo heat pump, recently launched, holds the distinction of having the highest heating performance as measured by the industry standards organization AHRI. Repeat investor Erik Nordlander of GV cited Dandelion's strong operational efficiency and leadership in geothermal as key drivers of its continued success.

The funding will also bolster Dandelion's research and development efforts, making geothermal heating and cooling more accessible to homeowners nationwide. The company's new Chief Revenue Officer, Lauren Howard, will lead growth strategies as Dandelion scales its commercial operations to further solidify its role in the residential energy market. The company continues to prioritize affordability and environmental sustainability in its mission to reduce reliance on fossil fuels through widespread adoption of geothermal technology.