Dandelion, a New York, NY-based residential geothermal company that offers homeowners clean and cost-saving heating and cooling technology, raised $4.5m in funding.
The round, which brings total funding to $6.5m, was led by New Enterprise Associates (NEA), with participation from BoxGroup, Daniel Yates, and Ground Up, as well as prior investors Borealis Ventures, Collaborative Fund, and ZhenFund. In conjunction with the financing, Daniel Yates, former CEO & Founder of Opower, joined Dandelion as Executive Board Member.
The company intends to use the funds to ramp up operations and launch our new and improved 2018 offering.
Led by Kathy Hannun, Co-Founder & CEO, Dandelion offers homeowners affordable geothermal heating & cooling systems as an alternative to gas, oil, propane or electric heating, and include built-in performance monitoring and a Nest thermostat. Earlier this month, Dandelion – which began at Alphabet’s X lab before launching as an independent entity in New York City in May 2017 – acquired Geo-Connections, a geothermal Software as a Service (SaaS) company.