Mount Kisco-based Dandelion Energy, a residential geothermal company, has closed on $70 million in a B1 funding round co-led by LENX, the corporate venture arm of homebuilder Lennar (NYSE:LEN) and NGP ETP, the energy transition investing platform of NGP. The funding round included participation from Breakthrough Energy Ventures, NEA, GV, Collaborative Fund, and Building Ventures.
According to the company, Dandelion more than tripled its commercial operations in 2022. Dandelion planned to use the capital to invest in a broader range of products to serve its customers.
“We are thrilled to welcome these incredible investors to our board. Together, LENX and NGP ETP bring unparalleled expertise in consumer behavior, new construction, and energy economics ”“ all of which are driving the transition to sustainable heating,” said Michael Sachse, CEO of Dandelion Energy. “Our goal is to be the Tesla of heating and cooling, and with this capital, we expect to make great strides down that path.”
