Dandelion Energy, a Peekskill, N.Y.-based home geothermal company, closed a $30m Series B round of funding, bringing total funding to $65m.
The round was led by Breakthrough Energy Ventures with participation from existing investors, including GV, NEA, Lennar Corporation, Collaborative Fund, Building Ventures, Catchlight Ventures, and GroundUp.
This company intends to use the funds to expand operations, while continuing to invest in research and development.
Led by Michael Sachse, CEO, Dandelion provides a geothermal heating & cooling system to reduce a home’s carbon emissions while eliminating the need to buy heating fuel. The company’s business model aligns federal, state, and utility incentives so that homeowners can upgrade to geothermal for less than they’re currently paying to heat and cool their home.
This news follows a momentous 2020 year for the company, marked by a $12m Series A-1 in January 2020 and an expansion of operations into Connecticut. In 2020, Dandelion also developed a fully virtual sales and design process and surpassed 100,000 tons of carbon emissions avoided.