HVAC Pitch Deck Example That Raised $70M

What's in this set

This is a small set. AngelMatch's pitch deck database currently holds one deck tagged to HVAC: the Dandelion Energy Series B deck, which raised $70M in 2022. Dandelion sells home geothermal systems as a lower-carbon way to heat and cool a house, which is why the same deck also sits in the green energy, sustainability, home, hardware, and energy filters.

One deck can't show you the range of an industry, so read it as a single data point about what a growth-stage HVAC raise looks like, not as a benchmark. A $70M Series B reflects a company putting physical systems into homes rather than a software tool for contractors, so the numbers will look different from an early-stage HVAC deck. If you're building a seed or Series A deck, the green energy pitch decks filter is the closest sibling set to compare against.

What investors look for in an HVAC pitch deck

HVAC is a trade before it is a technology category. Investors who back it weigh three things above the usual traction slide, and the Dandelion Energy deck is the only evidence in this set for what that looks like at Series B.

1. Install economics and labor. Every HVAC company, whether it sells heat pumps, geothermal loops, or smart thermostats, depends on someone getting into a home or building to put the equipment in. Investors want cost per install, crew capacity, and how you get installers to sell your product over the brands they already stock. Dandelion's $70M Series B in 2022 funded a home geothermal business, and geothermal is the most installation-heavy corner of HVAC, so a deck at that stage has to show installed cost falling as volume rises.
2. Payback period and incentives. A homeowner compares your system to the gas furnace or central air unit they already own. Show the total cost after rebates and tax credits, the monthly energy savings, and the years to break even. Incentive programs change by state and by year, so date every assumption you make. The lesson from Dandelion's raise is that a product with a multi-year payback can still attract growth capital when the savings case is spelled out.
3. Regulation and the electrification story. Building codes, refrigerant rules, and efficiency standards decide which HVAC products get sold. Name the rules driving demand for your product and what happens if they slip. Dandelion's tags in this database, from green energy to home, show the positioning that works: an HVAC product framed as part of a broader shift in how buildings are heated and cooled, not as a standalone appliance.

With one HVAC deck in the pitch deck database, the most useful comparison for your own raise is the Dandelion Energy Series B and the sibling filters around it. When your deck is ready, AngelMatch's investor database has 125,000+ investors you can filter by market, stage, and check size, so you can find investors who back heating, cooling, and building electrification startups.