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Laxman Pai, Opalesque Asia: Venture capital and corporate investment into climate tech grew at a faster rate than overall VC investment as a whole between 2013-2019, according to a major new report - to the tune of $60 billion of early-stage capital.
According to new research by PwC titled 'The State of Climate Tech 2020' in 2013 the early-stage venture funding for climate tech companies was about $418 million. However, in 2019, total venture funding increased to $16.1b, a more than 3750% increase. This is on the order of 3 times the growth rate of VC investment into AI, during a time-period renowned for its uptick in AI investment.
However, it's still early days for climate tech in terms of the overall VC market as it is approximately 6% of the total capital invested in 2019.
"Looking forward can climate tech in the 2020s follow a similar journey to the artificial intelligence (AI) investing boom in the 2010s? The substantial rates of growth seen in climate tech in the late 2010s, and the overarching need for new transformational solutions across multiple sectors of the economy, suggests yes," the report pointed out.
The stage appears set for an explosion of climate tech into the mainstream investment and corporate landscape in the decade ahead.
'Climate tech' encompasses a broad set of sectors that tackle the challenge of decarbonizing the global economy, to reach net-zero emissions before 2050.
The number of countries, cities, businesse...................... To view our full article Click here
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