Briefing

Alphabet X lab spinoff Dandelion raises $16 million for home geothermal systems

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Dandelion’s environmentally-friendly heating and cooling system, which operates beneath homes, aims to cut customers’ electricity bills in half. The company raised the money from Google’s venture arm and Comcast Ventures. The announcement comes the same morning that Makani, another project from Alphabet’s X lab that creates wind power-generating kites, announced its spinoff and a minority investment from Shell. (VentureBeat)

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Talking point: X lab—best known for incubating Waymo—is Alphabet’s way of entering new industries with moonshot ideas. The lab is responsible for creating Alphabet’s healthcare play Verily, Google Glass and Chronicle, which provides cybersecurity for enterprises. It’s not afraid to spend to keep experimenting; in Q4 2018, it reported over US-$1.3 billion in operating losses for its “Other Bets” category, which includes X lab projects.