What are the latest funding news in the climate tech market? (July 2026)
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Climate tech fundraising stayed very active in early July 2026, with large checks flowing into fusion, geothermal, EV infrastructure, grid optimization and carbon utilization.
The most recent deals show investors backing both deep-tech power generation and practical electrification platforms that can scale in real markets.
Even with only 12 disclosed rounds, the list already covers more than $1.71B in new funding, led by fusion, geothermal and electric mobility.
And if you want to better understand this new industry, you can download our pitch covering the climate tech market.
Insights
- Fusion alone represented more than $1.17B across three disclosed climate tech rounds, showing how clean firm power remains a major funding magnet
- Geothermal companies raised at least $210M across Quaise Energy, Critical Energy and Endurance Energy, with investors backing very different ways to unlock baseload clean power
- Electric mobility was not only about passenger cars, as Milo Drive, Evotrex and Spiro focused on fleets, RV trailers and African motorbike electrification
- The climate tech market stayed broad in July 2026, with funding flowing into energy generation, grid optimization, materials, mobility and carbon utilization
- Several large rounds were still pre-commercial, especially in fusion and advanced geothermal, which shows investors are still willing to fund long technical timelines
- India and Africa appeared in the newest EV-related deals, showing that climate tech funding is also moving toward high-growth mobility markets outside the U.S. and Europe
- Grid efficiency became a visible climate tech theme, with Arcturus and Utilidata targeting lower power losses and better use of existing electrical infrastructure
- Most valuations remained undisclosed, but Proxima Fusion and Helion Energy showed that top fusion startups can already reach multi-billion-dollar valuation levels
As this chart shows, and as featured in our climate tech market deck, search interest in climate change has continued to rise
Summary table of the latest funding deals in the climate tech market as of July 2026
We define the climate tech market as technologies whose main purpose is to reduce greenhouse gas emissions or help people, assets and ecosystems adapt to the impacts of climate change.
We include solutions across energy, mobility, buildings, industry, food and land use, carbon removal, and the digital and financial tools that directly enable these mitigation or adaptation outcomes.
We exclude broad ESG and sustainability tools, general environmental or social impact solutions without a clear climate focus, and consumer products whose climate impact is indirect, marginal or mainly marketing-driven.
You can also read our detailed analysis to understand how funding activity in the climate tech market has evolved over the last few years.
We also have a quarter-by-quarter analysis of funding activity in the market here.
Finally, you can check our complete list of fundraising deals for the climate tech market (we update this list every quarter) as well as our ranking of the most funded startups.
| Name | When | Amount in $ | Round Type | Category |
|---|---|---|---|---|
| Milo Drive | 8 July 2026 | $2.4M | Seed | Electric mobility & EV fleet operations |
| Quaise Energy | 7 July 2026 | $134M | Series B first close | Geothermal power & clean firm energy |
| Proxima Fusion | 7 July 2026 | ~$468M | Series A-2 | Fusion power & clean firm energy |
| Carbeau | 6 July 2026 | ~$40.1M | Spinout growth financing | Carbon utilization & low-carbon chemicals |
| Arcturus | 30 June 2026 | $8M | Seed | Grid efficiency & advanced materials |
| Critical Energy | 17 June 2026 | $22M | Seed | Geothermal power & modular power plants |
| Endurance Energy | 11 June 2026 | $54M | Series A | Offshore geothermal & clean firm power |
| Evotrex | 9 June 2026 | $30M | Series A | Electric mobility & off-grid EV hardware |
| Helion Energy | 4 June 2026 | $465M | Series G | Fusion power & clean firm energy |
| Focused Energy | 27 May 2026 | $240M | Series A | Laser fusion & clean firm energy |
| Spiro | 1 June 2026 | $215M | Equity financing | Electric mobility & battery swapping |
| Utilidata | 28 May 2026 | $40M | Series C extension | Grid AI & power optimization |
All the latest funding deals during in the climate tech market as of July 2026
Milo Drive raised $2.4M in seed funding in July 2026
When was it?
The Milo Drive seed round was announced on 8 July 2026.
Who are they?
Milo Drive operates an EV fleet platform for ride-hailing, corporate transit and travel operators.
Geographical focus?
Milo Drive focuses on India, with a strong Bengaluru and Gurgaon urban-mobility footprint.
Why do we include them in the climate tech market?
Milo Drive belongs to the electric mobility category because the platform helps replace internal-combustion urban rides with EV fleet operations.
What is the company stage?
Milo Drive is a seed-stage company with an operating platform and early commercial EV fleet model.
How much did they raise?
Milo Drive raised $2.4M in this round.
What round is it?
The financing was a seed round.
Why did they raise?
Milo Drive raised to develop its product, expand operations and scale its electric fleet platform for urban mobility customers.
Quaise Energy raised $134M in a Series B first close in July 2026
When was it?
The Quaise Energy deal was announced on 7 July 2026 and reported more widely on 8 July 2026.
Who are they?
Quaise Energy develops millimeter-wave drilling technology to reach superhot rock and unlock utility-scale geothermal power.
Geographical focus?
Quaise Energy is U.S.-based and has an initial commercial geothermal plant planned in Oregon.
Why do we include them in the climate tech market?
Quaise Energy belongs to the geothermal power category because the technology targets 24/7 zero-carbon electricity from deep geothermal resources.
What is the company stage?
Quaise Energy is a growth-stage deep-tech company moving toward first-of-a-kind commercial deployment.
How much did they raise?
Quaise Energy raised $134M in the first close of the round.
What round is it?
The financing was the first close of a Series B round.
Why did they raise?
Quaise Energy raised to build its first superhot geothermal power plant and advance rock-drilling technology toward commercial deployment.
This chart, featured in our climate tech market deck, compares the main business model options for carbon management platforms
Proxima Fusion raised about $468M in July 2026
When was it?
The Proxima Fusion Series A-2 round was announced on 7 July 2026.
Who are they?
Proxima Fusion is building stellarator-based fusion systems designed to become commercial zero-carbon power plants.
Geographical focus?
Proxima Fusion is focused first on Germany and Europe, with its Alpha demonstrator planned in Munich and Bavaria.
Why do we include them in the climate tech market?
Proxima Fusion belongs to the fusion power category because its core product is firm, zero-carbon electricity generation.
What is the company stage?
Proxima Fusion is a deep-tech scale-up, still pre-commercial but already funding a major demonstrator pathway.
How much did they raise?
Proxima Fusion raised €411M, equal to about $468M.
What round is it?
The financing was a Series A-2 round.
Why did they raise?
Proxima Fusion raised to accelerate construction of its Alpha fusion demonstrator and push Europe toward commercial stellarator fusion power.
Carbeau secured about $40.1M in spinout growth financing in July 2026
When was it?
The Carbeau spinout and funding were announced on 6 July 2026.
Who are they?
Carbeau converts CO₂ into high-value chemicals and materials using electrochemistry powered by electricity.
Geographical focus?
Carbeau is based in the Netherlands, with headquarters in Amsterdam and a planned pilot plant in Delfzijl.
Why do we include them in the climate tech market?
Carbeau belongs to the carbon utilization category because the technology turns CO₂ into feedstock for lower-carbon materials.
What is the company stage?
Carbeau is an early scale-up and spinout moving technology developed inside Avantium toward pilot-plant commercialization.
How much did they raise?
Carbeau secured about $40.1M, including cash and in-kind contribution.
What round is it?
The financing was spinout growth funding, not labeled as a standard Series A or Series B.
Why did they raise?
Carbeau raised to commercialize and scale its CO₂-to-chemicals platform, including pilot-plant development in the Netherlands.
This chart, featured in our climate tech market deck, looks at First Solar’s strategy in climate tech
Arcturus raised $8M in seed funding in June 2026
When was it?
The Arcturus seed round was announced on 30 June 2026.
Who are they?
Arcturus makes carbon-nanomaterial-infused metals that improve electrical, thermal and mechanical performance in power systems.
Geographical focus?
Arcturus is a U.S.-based company headquartered in Los Angeles.
Why do we include them in the climate tech market?
Arcturus belongs to the grid efficiency and advanced materials category because its materials target lower electrical losses across power infrastructure.
What is the company stage?
Arcturus is a seed-stage company newly emerged from stealth, with manufacturing scale-up and early commercialization ahead.
How much did they raise?
Arcturus raised $8M in seed funding, bringing total capital raised to $10M.
What round is it?
The financing was a seed round.
Why did they raise?
Arcturus raised to expand the team, scale manufacturing and commercialize carbon-infused metals across electric motors, data centers and grid applications.
Critical Energy raised $22M in seed funding in June 2026
When was it?
The Critical Energy funding was reported on 17 June and 18 June 2026.
Who are they?
Critical Energy builds factory-made modular power plants that convert geothermal heat and other heat sources into electricity.
Geographical focus?
Critical Energy is U.S.-based and targets geothermal and data-center power markets.
Why do we include them in the climate tech market?
Critical Energy belongs to the geothermal power category because its modular turbines are designed to bring clean firm power online faster.
What is the company stage?
Critical Energy is a seed-stage hardware company moving toward its first 2.5 MW project.
How much did they raise?
Critical Energy raised $22M in total seed funding.
What round is it?
The financing was a seed round.
Why did they raise?
Critical Energy raised to build its first geothermal project, expand manufacturing capability and accelerate deployment of modular geothermal turbines.
In our climate tech market deck, we identify pain points entrepreneurs should prioritize
Endurance Energy raised $54M in Series A funding in June 2026
When was it?
The Endurance Energy Series A round was announced on 11 June 2026.
Who are they?
Endurance Energy is developing subsea geothermal systems that tap heat from undersea volcanic zones to generate clean electricity.
Geographical focus?
Endurance Energy is headquartered in Seattle, with early deployment activity linked to Tonga.
Why do we include them in the climate tech market?
Endurance Energy belongs to the offshore geothermal category because its main product is a new source of firm, low-carbon electricity.
What is the company stage?
Endurance Energy is a Series A deep-tech company moving from prototype work toward full-stack offshore geothermal systems.
How much did they raise?
Endurance Energy raised $54M in this round.
What round is it?
The financing was a Series A round.
Why did they raise?
Endurance Energy raised to build full-stack subsea geothermal systems and scale offshore operations beyond prototype work.
Evotrex raised $30M in Series A funding in June 2026
When was it?
The Evotrex Series A round was announced on 9 June 2026.
Who are they?
Evotrex builds electric off-road RV trailers with integrated power systems that reduce dependence on conventional charging infrastructure.
Geographical focus?
Evotrex has a U.S. and China-linked production and customer-delivery pathway, with customer deliveries planned in 2027.
Why do we include them in the climate tech market?
Evotrex belongs to the clean transport hardware category because the product is an electric, self-powered alternative to conventional RV trailers.
What is the company stage?
Evotrex is a Series A company in final product development, testing, validation and production preparation.
How much did they raise?
Evotrex raised $30M, bringing total funding to $46M.
What round is it?
The financing was a Series A round.
Why did they raise?
Evotrex raised to finish product development, complete automotive-standard testing and prepare production for planned 2027 customer deliveries.
This market map, featured in our climate tech market deck, highlights top companies and startups in the climate tech market
Helion Energy raised $465M in Series G funding in June 2026
When was it?
The Helion Energy Series G round was announced on 4 June 2026.
Who are they?
Helion Energy is building fusion power plants designed to generate zero-carbon electricity directly from fusion reactions.
Geographical focus?
Helion Energy is headquartered in Everett, Washington, with a planned power plant for Microsoft.
Why do we include them in the climate tech market?
Helion Energy belongs to the fusion power category because its core business is commercial zero-carbon electricity generation.
What is the company stage?
Helion Energy is a late-stage fusion scale-up, still pre-commercial in power delivery but building toward its first customer power plant.
How much did they raise?
Helion Energy raised $465M in this round.
What round is it?
The financing was a Series G round.
Why did they raise?
Helion Energy raised to accelerate commercial fusion deployment, scale manufacturing and expand its ability to deliver clean electricity to customers.
Focused Energy raised $240M in Series A funding in May 2026
When was it?
The Focused Energy company announcement was on 27 May 2026, with wider coverage on 2 June 2026.
Who are they?
Focused Energy develops laser-driven fusion technology to build commercial fusion power plants.
Geographical focus?
Focused Energy focuses first on Germany and Europe, especially the Biblis site in Hesse, while also maintaining U.S. offices.
Why do we include them in the climate tech market?
Focused Energy belongs to the laser fusion category because its mission is clean, firm electricity from fusion power.
What is the company stage?
Focused Energy is a pre-commercial deep-tech scale-up with a large team, strategic site access and industrial partners.
How much did they raise?
Focused Energy raised $240M in this round.
What round is it?
The financing was a Series A round.
Why did they raise?
Focused Energy raised to develop laser fusion, build supply chains and advance a first laser-fusion power plant at Biblis.
This chart, featured in our climate tech market deck, illustrates yearly funding for climate tech startups
Spiro raised $215M in equity financing in June 2026
When was it?
The Spiro equity financing was announced on 1 June 2026.
Who are they?
Spiro sells electric motorcycles and operates battery-swapping infrastructure for riders across African markets.
Geographical focus?
Spiro is Africa-first, with operations in markets including Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon.
Why do we include them in the climate tech market?
Spiro belongs to the electric mobility and battery swapping category because its vehicles and swap network replace fossil-fuel motorbikes.
What is the company stage?
Spiro is a growth-stage company with more than 100,000 EVs and thousands of swap stations deployed.
How much did they raise?
Spiro raised $215M in equity financing.
What round is it?
The financing was an equity round, and the named stage was not disclosed.
Why did they raise?
Spiro raised to expand battery swapping, strengthen local manufacturing, enter new African markets and develop solar-powered swap stations.
Utilidata raised a $40M Series C extension in May 2026
When was it?
The Utilidata Series C extension was announced on 28 May 2026.
Who are they?
Utilidata builds embedded AI systems that optimize power infrastructure and help data centers use electrical capacity more efficiently.
Geographical focus?
Utilidata is U.S.-based, with early commercial data-center deployment planned in Canada and possible expansion to Europe.
Why do we include them in the climate tech market?
Utilidata belongs to the grid AI category because the platform reduces wasted electrical capacity and helps large loads become more grid-efficient.
What is the company stage?
Utilidata is a growth-stage commercialization company shifting from smart-meter grid work into data-center power optimization.
How much did they raise?
Utilidata raised an additional $40M, completing a $100M Series C.
What round is it?
The financing was a Series C extension and final close.
Why did they raise?
Utilidata raised to scale its Nvidia-powered Karman modules, expand the team and help data centers unlock unused power capacity.
Related blog posts
- How strong is fundraising in the climate tech market right now?
- The latest news in the climate tech market
- How big is the climate tech market today?
- The evolution of funding activity in climate tech
- The main fundraising trends in climate tech
- A complete overview of climate tech funding deals
- The startups that have raised the most funding in climate tech
- The most highly valued startups in climate tech
- The full range of business models in the climate tech market
