Dandelion Energy bags USD 16m in funding round

The Dandelion Air. Source: Dandelion Energy Inc

February 18 (Renewables Now) - US residential geothermal startup Dandelion Energy Inc has concluded a USD-16-million (EUR 14m) Series A funding round co-led by GV and Comcast Ventures.

Dandelion plans to use the fresh funds to step up growth, invest in research and development, and grow across New York state by opening new warehouses and expanding its team.

The home geothermal firm has raised a total of USD 23 million to date. It is a spin-off of ​X -- the research and development (R&D) lab of Google’s parent company Alphabet Inc (NASDAQ:GOOGL), that became an independent business in New York City in May 2017.

Other investors that have participated in the funding round include home construction and real estate company Lennar Corporation (NYSE:LEN) and existing backers NEA, Collaborative Fund, Ground Up and Zhenfund. Shaun Maguire, partner at GV, and Sam Landman, managing director at Comcast Ventures will now become part of Dandelion’s board.

(USD 1.0 = EUR 0.884)

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