We analyzed early-stage investment trends to uncover which climate tech markets — from green hydrogen to agricultural field intelligence — are taking off and how these will impact the broader space.
As corporations work to hit sustainability targets, climate tech companies are seeing a surge in demand for their solutions.
Despite equity funding to the space dropping 39% YoY to $41B in 2023, deal counts actually ticked up 4% to over 2,700. This was driven by an increase in early-stage deals, which represented 69% of all deals in 2023 — up from 55% in 2022.
To see where climate tech is heading in 2024, we looked at the tech markets with the most early-stage investment activity in 2023:
- Green hydrogen developers
- Direct air capture
- Electric vehicle (EV) charging software
- Micro-grid/off-grid providers
- Agricultural field intelligence
We dig into the trends shaping each market below.
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