Create your free link page or bio page

While the venture capital industry is slowing down, businesses in the field of climate technology are defying the trend by signing deals at a record rate. The sector is moving up the ranks as a result.\

startup 3267505 1280 | Launch A Startup | climate startup, startups, venture capital

Five climate technology investments made it into CB Insight’s top 10 listings for seed and venture capital rounds in the first quarter of this year. These five climate technology agreements raised a total of $1.4 billion in finance. Eight of these businesses made the lists by the second quarter, attracting investments totaling $2.5 billion.

If you exclude statistics from China, where the Communist Party’s influence tends to skew the picture of funding, the trend is even more pronounced. Climate tech now appears on six of CB Insight’s top 10 lists outside of China, up from two in Q1; investments also increased, from $635 million to $2.1 billion.

Pae Wu, general partner of SOSV, told TechCrunch that there “appears to be a bunch of dry powder especially for early stage climate tech” in the market at the moment, suggesting that there may be more to come.

Winners in the second quarter’s climate technology awards included a variety of industries, from producers of renewable energy to EV manufacturers and nuclear startup companies.

The largest transaction in Q2 involved a massive $750 million investment in Intersect Power, a developer of renewable energy that is changing course to become more vertically integrated. With the money, it intends to eventually integrate the creation and storage of clean energy with the production of green hydrogen and direct air capture.

Rimac Automobili, a manufacturer of electric supercars, comes in second with a $535 million Series D round, and then newcleo, a U.K. company, raises a $316 million Series A round. a nuclear start-up that is creating a new line of lead-cooled reactors. Gokin Solar, a Chinese manufacturer of photovoltaics, raised $251 million in a Series A round of financing; 1Komma5, a German installer of solar and heat pumps, secured $218 million in a similar round; and Sun King, a Kenyan supplier of off-grid energy, closed a Series A round of financing.


Read also: What is a privacy policy generator?

Contribute for Tokens
No Comments
Comments to: While Venture Capital is Declining Globally, Climate Startups are Soaring
Skip to content