Seed-stage Climate Tech - are investors still believers?
Happy to report they are!
Climate Tech companies on Carta that received seed-stage funding in Q1 did so at higher valuations and higher round sizes than the general startup population.
Downside: not a lot of rounds raised (only 10 in the 3 month period).
So while the best climate tech companies seem to be attractive relatively buoyant valuations, the sector as a whole has not escaped the general downturn in venture capital investment (unlike the AI space).
Of course, deciding what constitutes a "climate tech" company is a bit of a judgement exercise. Looking through the more than 1,400 companies early rounds on Carta since last October, we found the major sub-sectors within climate to be:
Renewables
Carbon capture
Ag tech
Sustainable manufacturing
I'd consider climate tech more of a thesis than an industry unto itself - the capital needs of a sustainable DTC brand are vastly different than a new carbon capture process, for example. But more data to be uncovered here for sure.
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#cartadata #renewables #climatetech #startups #seedstage #founders
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