New York, USA-based home services company helping homeowners transition from fossil fuels to clean energy, Tetra, raised USD 10.5 million in seed funding. The company announced the investment on December 14, 2023. Greycroft, Gutter Capital, Lerer Hippeau and 1sharpe Capital led the financing for the company.
As part of the investment, Elton, Partner at Greycroft; Dan Teran, co-founder of Gutter Capital; Isabelle Phelps of Lerer Hippeau, will join Tetra’s Board of Directors.
Purpose of financing for Tetra
With the latest financing, the company seeks to expand Tetra’s offering into new markets, including New York as well as California. It also has plans to continue investing in developing its proprietary technology designed to make it easier and more affordable for homeowners to lower their carbon footprint.
What the company’s official has to add
Max Veggeberg, CEO and Founder at Tetra said, “Millions of homeowners are interested in making improvements to their home heating and cooling but feel overwhelmed by the process. We are making the right choice, an easy choice, by leveraging our proprietary technology, installer network, and newly available government incentives to help guide thousands of American households who are eager to do their part in reducing their carbon footprint.”
What the investors have to comment
John Elton, Partner at Greycroft, further said, “Consumers want an affordable, environmentally friendly choice when replacing their heating and cooling system. The challenge has been navigating the myriad of technology options and government incentives. Tetra makes this task simple by automatically showing the best option and providing a seamless buying and installation process. Veggeberg and the Tetra team have made a very difficult task look simple. This can only be accomplished with a deep understanding of the market coupled with a dedicated team trying to solve it. We are excited about the future of Tetra given this positioning.”
Dan Teran, co-founder of Gutter Capital and Tetra Board member, further said, “Every American household must participate if we are going to have a clean energy revolution in this country, at all levels of income and sophistication. We are excited to continue supporting Max and his exceptional team to build a business this country desperately needs. By providing a high efficiency, low cost solution with an amazing customer experience, the Tetra team has an opportunity to accelerate the clean energy transformation in America.”
Besides, Isabelle Phelps, Partner at Lerer Hippeau, who has also joined Tetra’s board, said, “This funding positions Tetra at the forefront of a shift in heating and cooling among consumers looking to save energy and reduce their climate impact. ”
About the company
Founders Douglas Bernard and Max Veggeberg launched Tetra in 2021. Tetra is leading the clean energy transformation by empowering homeowners to switch from fossil fuel heating and cooling systems to high-efficiency heat pumps.
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