What are the fundraising trends in the climate tech market?
In our climate tech market deck, you will find everything you need to understand the market
SUMMARY
We analyzed publicly disclosed equity rounds raised by pure-play climate tech companies across full-year 2024, full-year 2025, and year-to-date 2026. The analysis keeps only disclosed equity financings above $300K and focuses on companies whose core activity directly reduces greenhouse gas emissions or helps people, assets, and ecosystems adapt to climate change.
The climate tech market is receiving more capital in the freshest comparison. Funding so far in 2026 reached about $2.69B across 36 disclosed deals, versus about $1.07B across 8 deals over the comparable period in 2025.
The full-year comparison also points upward. Full-year 2025 reached about $5.55B in the verified sample, compared with about $2.50B in 2024, even though the number of deals rose only modestly from 32 to 36.
The 2026 increase is being driven more by deal activity than by larger typical rounds. Deal count rose sharply versus the comparable 2025 period, while average round size fell from about $133M to about $75M and median round size fell from about $91M to about $30M.
Clean Energy Systems is now the center of gravity in the climate tech market. The category captured nearly 79% of year-to-date 2026 capital and more than half of all deals, confirming that investor attention has shifted toward power, grid, storage, geothermal, fusion, and clean firm energy.
The climate tech market remains highly concentrated. So far in 2026, the top 10 deals captured 73% of capital, while the bottom half of deals captured only about 10.5%.
Capital is still going overwhelmingly to follow-on rounds. First financings represented only 5.6% of year-to-date 2026 deals and 0.4% of capital, which means the market is funding companies that have already passed earlier credibility thresholds.
North America remains the dominant scale-financing region. It captured about 76% of year-to-date 2026 capital, while Europe contributed more deal breadth but lower median round sizes.
Climate Adaptation Solutions and Carbon Removal Platforms are active but still capital-light. Together, they produced 25% of year-to-date 2026 deals, but only about 7% of capital.
The main interpretation is clear: climate tech funding is rising, but the strongest capital flows are narrowing around urgent infrastructure constraints, especially electricity supply, grid capacity, storage, firm power, and energy systems linked to AI and electrification demand.
This chart, featured in our climate tech market deck, breaks down market revenue by customer segment in the climate tech market
Is more or less capital going into the climate tech market?
More capital is going into the climate tech market in the freshest available comparison. Climate tech funding so far in 2026 reached about $2.69B across 36 disclosed equity deals, compared with about $1.07B across 8 deals over the comparable period in 2025.
That means capital is up roughly 2.5x, while deal count is up 4.5x. The direction is clearly positive, but the interpretation is not simply that every climate tech company is raising bigger rounds. The current increase is being carried by many more disclosed financings and a heavy concentration in Clean Energy Systems.
The fuller completed-year comparison also points upward. Full-year 2025 funding reached about $5.55B in the verified sample, versus about $2.50B across 32 deals in 2024. That is roughly a 122% increase in capital with only a modest increase in deal count.
The important nuance is that the climate tech market is not receiving capital evenly. In 2026 so far, Clean Energy Systems captured about $2.12B, or nearly 79% of all capital. That means the headline increase in climate tech funding is really a power, grid, storage, fusion, geothermal, and energy-infrastructure funding surge.
So the answer is yes, more capital is going into the climate tech market, but the money is narrowing toward energy capacity and infrastructure constraints. Climate tech capital is rising, but the capital is not validating every climate category equally.
Is climate tech funding activity driven by more deals or larger rounds?
Climate tech funding so far in 2026 is being driven more by more deals than by larger rounds. There were 36 disclosed deals so far in 2026 versus 8 over the comparable period in 2025, while average round size fell from about $133M to about $75M and median round size fell from about $91M to about $30M.
This is the key distinction. Climate tech capital increased from about $1.07B over the comparable 2025 period to about $2.69B so far in 2026, but the typical round got smaller. If the market were being driven mainly by larger checks, average and median round sizes would be rising.
The completed-year comparison tells a different structural story. Full-year 2025 was driven more by larger rounds than by more deals: deal count increased only from 32 in 2024 to 36 in 2025, but capital rose from about $2.50B to about $5.55B.
Taken together, the climate tech market appears to have shifted from a 2025 megaround-driven expansion to a 2026 deal-activity expansion. The 2026 climate tech market is not necessarily richer per company; it is more visibly active across more companies.
For deeper context on how climate tech deal counts, median rounds, and category capital shares are changing, see the full climate tech market report.
Is climate tech capital moving toward later-stage or earlier-stage companies?
Capital in the climate tech market is still mostly moving toward later-stage companies, but the 2026 year-to-date mix shows a meaningful rebound in earlier-stage capital compared with the comparable 2025 period. So far in 2026, Seed and Series A companies captured about $990M, or 36.9% of capital, compared with about $113M, or 10.6%, over the comparable 2025 period.
The most important stage signal in 2026 is Series A and Series B, not Seed. Series A accounted for 14 of 36 deals and about $979M of capital, while Series B accounted for 10 deals and about $1.10B. Seed rounds remained tiny in dollar terms, with only 2 deals and about $12M.
The full-year 2025 comparison shows how extreme late-stage dominance was before the 2026 rebound. In 2025, Seed and Series A captured only about $214M, or 3.9% of capital, while Series B and later plus unknown stages captured about $5.33B.
The better interpretation is that climate tech is not moving broadly earlier. It is moving toward earlier-labeled but infrastructure-scale companies. A $450M Series A fusion round does not behave like a conventional early-stage software round.
This chart, featured in our climate tech market deck, compares the main business model options for carbon management platforms
Is the climate tech market maturing or still experimental?
The climate tech market is maturing, but not uniformly. The strongest evidence of maturity is that follow-on financings dominate: so far in 2026, only 5.6% of deals were first financings, and first financings captured just 0.4% of capital.
The climate tech market also looks mature because the largest checks are increasingly tied to deployment constraints rather than broad climate narratives. In 2026 so far, capital clustered around fusion, grid hardware, energy storage, geothermal, distributed power, and clean-energy infrastructure.
But the market is still experimental in specific categories. Carbon Removal Platforms captured 11.1% of 2026 deals but only 2.7% of capital. Climate Adaptation Solutions captured 13.9% of deals but only 4.2% of capital. Building Decarbonization Tech had only one qualifying disclosed deal so far in 2026.
So the climate tech market should be described as selectively maturing. Clean Energy Systems is maturing fastest because it is tied to urgent demand for power availability. Carbon removal, adaptation, and building decarbonization still look more experimental, undercapitalized, or financed through channels outside disclosed venture equity.
Are new startups still entering the climate tech market?
New startups are still entering the climate tech market, but new-company formation is not the main financing story. So far in 2026, first financings represented only 2 of 36 deals, or 5.6%, and just 0.4% of capital.
That is much weaker than 2025, when first financings were 16.7% of deals, and weaker than 2024, when first financings were 12.5% of deals. Investors are not abandoning new climate tech companies entirely, but they are allocating very little capital to first financings.
The stage mix adds nuance. Series A was the most common stage so far in 2026, with 14 deals, or nearly 39% of total deals. But many Series A companies in climate tech are not newly formed startups; they are technical companies that may have spent years in R&D, pilots, grants, labs, or stealth before raising institutional equity.
So the climate tech market still has new entrants, but the market is not being refreshed mainly from the bottom. The market is being driven by companies that have already cleared some credibility threshold and are now raising follow-on capital to scale technology, manufacturing, deployment, or commercial partnerships.
For more context on first financings, follow-on dominance, and the climate tech startup pipeline, see the climate tech market deck.
Are more investors entering the climate tech market?
More investors appear to be participating in the climate tech market in 2026 than over the comparable 2025 period, but the signal should be read carefully because several 2026 rounds did not fully disclose syndicates. So far in 2026, there were approximately 78 unique disclosed investors and about 39 disclosed tier-1 investors across 36 deals.
Over the comparable 2025 period, there were about 28 unique disclosed investors and 14 tier-1 investors across 8 deals. The increase is real in absolute terms, but it partly reflects the much larger number of deals.
The full-year comparison is less dramatic but still positive. Full-year 2025 had about 72 unique disclosed investors and 32 tier-1 investors across 36 deals. So 2026 has already reached or slightly exceeded full-year 2025's disclosed investor breadth by early July, with a similar number of deals.
The more important interpretation is that investor breadth is expanding around specific themes, not across all climate categories equally. Repeat investors in 2026 clustered around grid, power, fusion, clean energy infrastructure, adaptation infrastructure, and industrial transition.
This chart, featured in our climate tech market deck, illustrates yearly funding for climate tech startups
Are top investors getting more or less active in climate tech?
Top investors are getting more active in selected parts of the climate tech market, but repeat activity is not highly concentrated in one or two firms. So far in 2026, several investors appeared in more than one disclosed deal, including Energy Impact Partners, Gigascale Capital, Climate Capital, Future Energy Ventures, Barclays Climate Ventures, Founders Fund, Breakthrough Energy Ventures, and Idemitsu-related investors.
Over the comparable 2025 period, only Andreessen Horowitz and Lightspeed appeared more than once among top investors. That means top-investor recurrence broadened in 2026, but the climate tech market is not being led by a single dominant capital provider.
The full-year comparison adds context. In 2024, Lowercarbon Capital and Breakthrough Energy Ventures each appeared in 5 deals, while Prelude Ventures and Microsoft Climate Innovation Fund each appeared in 3. In 2025, repeat investor counts were lower in the verified sample, with several investors appearing twice each.
The strongest reading is that top investors are active, but not indiscriminately active. Breakthrough Energy Ventures shows up around hard energy technology, Energy Impact Partners around grid and energy infrastructure, Founders Fund around ambitious power projects, and Barclays Climate Ventures around storage and adaptation infrastructure.
Which climate tech subcategories are gaining momentum?
Clean Energy Systems is the subcategory clearly gaining the most momentum in the climate tech market. So far in 2026, Clean Energy Systems captured 19 of 36 deals, or 52.8%, and about $2.12B, or 78.8% of all capital.
Over the comparable 2025 period, Clean Energy Systems captured 4 of 8 deals and about $803M, or 75.4% of capital. The category already dominated in early 2025, and it has remained dominant while expanding deal count sharply.
The full-year comparison reinforces the same conclusion. Clean Energy Systems increased from 22.1% of full-year 2024 capital to 76.2% of full-year 2025 capital. That is the most important structural shift in the climate tech market.
Climate Adaptation Solutions also gained deal visibility in 2026, even though it remains capital-light. It moved from 1 deal over the comparable 2025 period to 5 deals so far in 2026, while capital rose from $30M to $112M.
The real momentum stack is therefore Clean Energy Systems first, Climate Adaptation Solutions by deal visibility but not capital weight, and selected Low Carbon Mobility by capital intensity. The climate tech market is rewarding categories that connect climate outcomes to immediate infrastructure pain.
The deeper analysis of the climate tech market breaks out these category shifts across clean energy, mobility, buildings, industry, adaptation, and carbon removal.
Which climate tech subcategories are losing momentum?
Industrial Climate Tech, Carbon Removal Platforms, and Building Decarbonization Tech are losing relative momentum in the climate tech market, even if some of them still have credible individual deals. Industrial Climate Tech fell from 45.2% of full-year 2024 capital to 6.3% of full-year 2025 capital and 7.1% so far in 2026.
The Industrial Climate Tech decline should not be interpreted as abandonment. The category still includes cement, ammonia, carbon conversion, mineral processing, carbon management, and industrial materials. But the large-dollar center of gravity has moved away from industrial decarbonization and toward clean power systems.
Carbon Removal Platforms also lost relative capital momentum. Carbon removal represented 31.3% of 2024 deal count and 11.2% of capital. In 2025, it fell to 8.3% of deals and 3.2% of capital. So far in 2026, it recovered to 11.1% of deals but only 2.7% of capital.
Building Decarbonization Tech is the clearest missing category in 2026. It had 3 deals and $242M in 2024, 2 deals and $194M in 2025, and only 1 deal worth $18.6M so far in 2026.
So the losing-momentum categories are not necessarily failing technologically. They are losing share because investor urgency has shifted toward power supply, grid capacity, and infrastructure-scale energy systems.
This chart, featured in our climate tech market deck, looks at First Solar’s strategy in climate tech
Which regions are gaining momentum in climate tech funding?
North America is gaining the most momentum in the climate tech market by capital, and Asia-Pacific is gaining modest visibility by deal count and capital share from a low base. So far in 2026, North America captured about $2.05B, or 76.4% of capital, across 21 of 36 deals.
Over the comparable 2025 period, North America captured about $935M, or 87.8% of capital, across 6 of 8 deals. North America's share fell from the unusually high comparable 2025 period, but absolute capital more than doubled and deal count more than tripled.
The full-year comparison also shows North America strengthening. North America captured 67.4% of full-year 2024 capital and 84.5% of full-year 2025 capital. That means North America became the dominant capital center in 2025, and it remained dominant in 2026 even as Europe and Asia-Pacific showed more activity.
Asia-Pacific's momentum is small but directionally positive. So far in 2026, Asia-Pacific had 4 deals and about $121M, or 4.5% of capital. Over the comparable 2025 period, Asia-Pacific had no deals in the verified sample.
The best interpretation is that North America is gaining most of the capital momentum, Europe is gaining breadth, and Asia-Pacific is beginning to show more visible participation. The climate tech market is becoming slightly more geographically active, but the largest checks still concentrate in North America.
Which regions are losing momentum in climate tech funding?
Europe is losing relative capital momentum in the climate tech market when compared with its strong 2024 position, even though Europe has gained deal activity so far in 2026. Europe captured 30.7% of full-year 2024 capital, but only 9.9% of full-year 2025 capital and 19.0% so far in 2026.
The important nuance is that Europe is not disappearing. So far in 2026, Europe had 10 of 36 deals, or 27.8%, which is higher than its full-year 2025 deal share of 22.2% and higher than its full-year 2024 deal share of 18.8%.
Europe is losing capital intensity, not necessarily company formation or deal visibility. Its median 2026 round size was about $19M, compared with North America's $60M.
Latin America is also weak in the current climate tech financing picture. Full-year 2025 had one large Latin American deal worth $250M, equal to 4.5% of capital. So far in 2026, Latin America had one small $2.7M wildfire-monitoring seed round, equal to 0.1% of capital.
The Middle East also lost visibility after isolated 2024 and 2025 deals. So far in 2026, there were no qualifying Middle East deals in the provided evidence. This looks more like episodic deal appearance than a sustained regional funding base.
Is the climate tech market becoming more global or more regionally concentrated?
The climate tech market is becoming more global by deal presence, but more regionally concentrated by capital. So far in 2026, disclosed deals appeared across North America, Europe, Asia-Pacific, and Latin America. That is broader than the comparable 2025 period, which had only North America and Europe.
Capital tells the opposite story. North America captured 76.4% of year-to-date 2026 capital, 84.5% of full-year 2025 capital, and 67.4% of full-year 2024 capital. That means the largest checks remain highly concentrated in North America.
The average and median regional round sizes make the concentration clearer. So far in 2026, North America's average deal size was about $98M and median was $60M. Europe's average was about $51M and median was about $19M. Asia-Pacific's average was about $30M and median was $20M.
So the answer depends on the metric. The climate tech market is becoming more global if the question is where companies are raising. It is becoming more regionally concentrated if the question is where the money is going. For capital allocation, regional concentration is the more important read.
For regional comparisons across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa, see the market report covering climate tech geography.
This chart, featured in our climate tech market deck, shows how clean energy incentives have driven growth in the climate tech market over time
Is climate tech capital moving toward proven winners or new opportunities?
Climate tech capital is moving much more toward proven winners than new opportunities. So far in 2026, follow-on financings represented 94.4% of deals and 99.6% of capital. First financings represented only 5.6% of deals and 0.4% of capital.
The same pattern existed in 2025. First financings were 16.7% of full-year deals but only 0.94% of capital. In 2024, first financings were 12.5% of deals and 6.7% of capital. The year-to-year pattern is clear: first financings appear, but they do not capture much money.
Stage mix reinforces the point. In 2026 so far, Series B was the largest stage by capital, with about $1.10B, or 40.9%. Series A was also large at about $979M, or 36.4%, but this was driven by technically ambitious companies that are not new opportunities in a casual sense.
The market is still open to new opportunities when those opportunities sit inside urgent bottlenecks. Fusion, grid hardware, power acceleration, ocean energy, energy storage, and clean firm power can attract large early-stage rounds because the prize is huge.
Is the climate tech market becoming winner-takes-most?
The climate tech market is becoming winner-takes-most in capital terms, though not in deal-count terms. So far in 2026, the top 10 deals captured 73.0% of total capital, while the bottom half of deals captured only 10.5%.
This pattern is not new. In 2025, the top 10 deals captured 72.8% of capital, while the bottom half captured 9.8%. In 2024, the top 10 deals captured 79.7%, while the bottom half captured 11.6%.
The top-one and top-three concentration is less extreme in 2026 than in the comparable 2025 period. Over the comparable 2025 period, the largest deal captured 39.9% of capital and the top 3 captured 74.2%. So far in 2026, the largest deal captured 16.8% and the top 3 captured 36.9%.
But lower top-three concentration does not mean the market is egalitarian. The top 10 still capture nearly three-quarters of capital. The average round is about $75M, while the median is about $30M. That gap shows that a minority of large winners pulls the whole capital base upward.
Is the next wave of climate tech winners becoming visible?
Yes, the next wave of climate tech winners is becoming visible, especially in Clean Energy Systems. The most visible emerging winners are companies connected to power scarcity, grid capacity, energy storage, fusion, geothermal, distributed energy infrastructure, and clean firm power.
So far in 2026, Clean Energy Systems accounted for 19 of 36 deals and about $2.12B of $2.69B in capital. That is too large and too consistent to treat as random noise.
The likely winner profile is also becoming clearer. Large 2026 rounds went to companies such as Inertia Enterprises, Lunar Energy, Heron Power, EnerVenue, Focused Energy, Panthalassa, Thea Energy, Endurance Energy, GridCARE, and Type One Energy. These companies differ technologically, but they share a common investor story: they address power availability, clean firm energy, grid constraints, storage, or energy infrastructure for AI and electrification demand.
The 2025 and 2024 comparisons confirm that this is not a sudden one-off. In 2025, Clean Energy Systems captured 76.2% of capital. In 2024, Clean Energy Systems was smaller at 22.1% of capital, while Industrial Climate Tech led.
The next wave is less visible in adaptation, carbon removal, and buildings. Those categories have credible companies, but their smaller round sizes suggest that category winners are not yet being capitalized at the same scale.
The full market view on climate tech winners provides more detail on the companies and subcategories that are beginning to separate from the rest of the market.
As this chart shows, and as featured in our climate tech market deck, search interest in climate change has continued to rise
Is the climate tech funding landscape fragmenting or consolidating?
The climate tech funding landscape is consolidating by capital theme but fragmenting by company count and investor participation. So far in 2026, 36 deals were spread across six categories and four regions, with approximately 78 disclosed investors.
That looks fragmented on the surface. But 78.8% of capital went into Clean Energy Systems, and 73.0% of capital went to the top 10 rounds. That is consolidation beneath the surface.
The strongest consolidation is thematic. The market is converging around power and infrastructure. Fusion, grid hardware, storage, geothermal, distributed power, clean energy procurement, and energy systems attracted the biggest capital flows.
Investor participation is more fragmented. In 2026, repeat investors existed, but no single investor dominated the entire market. Several investors appeared twice, rather than one investor appearing five or six times.
So the best answer is mixed. The climate tech funding landscape is consolidating around a few high-conviction problem areas, especially Clean Energy Systems, while remaining fragmented across companies, technologies, and investor syndicates.
Where is investor attention shifting in climate tech?
Investor attention in the climate tech market is shifting toward electricity, grid capacity, clean firm power, and infrastructure that can serve AI, electrification, industrial growth, and energy security. The clearest signal is that Clean Energy Systems captured nearly 79% of year-to-date 2026 capital and more than half of all deals.
The shift is also visible in the decline of relative capital share for other categories. Industrial Climate Tech led 2024 with 45.2% of capital, but fell to 6.3% in 2025 and 7.1% so far in 2026. Carbon Removal Platforms fell from 11.2% of 2024 capital to 3.2% in 2025 and 2.7% so far in 2026.
Investor attention is not shifting away from climate impact; it is shifting toward climate impact that also solves an immediate operational bottleneck. The biggest 2026 rounds are not just decarbonization stories. They are power-availability stories, grid-upgrade stories, energy-storage stories, firm-power stories, and data-center energy stories.
The practical reading rule is simple: in the current climate tech market, the strongest funding candidates are not necessarily the companies with the broadest climate claims. The strongest candidates are the ones that can explain which scarce physical system they unlock: electricity, grid capacity, clean heat, storage, fuels, industrial materials, or resilience infrastructure.
For real-time tracking of where investor attention is moving across the climate tech market, see the climate tech market report.
INSIGHTS
The insights below come from reviewing disclosed equity funding activity in the climate tech market across full-year 2024, full-year 2025, and year-to-date 2026.
- The climate tech market has shifted from climate as a standalone investment theme to climate as infrastructure constraint removal. The largest 2025 and 2026 rounds concentrate around power, grid, storage, fusion, nuclear, geothermal, and industrial energy bottlenecks rather than broad sustainability narratives.
- The strongest market signal is not total capital, but the category that absorbs capital after excluding smaller rounds. Clean Energy Systems captured nearly 79% of year-to-date 2026 capital, so the climate tech market's current direction is being set by energy infrastructure, not by the full climate category universe.
- The recent increase in 2026 funding is healthier than a pure megaround rebound because deal count rose from 8 to 36 over the comparable period. But the decline in median round size from about $91M to about $30M means the typical funded company is not receiving larger checks than a year earlier.
- Full-year 2025 and year-to-date 2026 tell different but complementary stories. Full-year 2025 was a larger-round year, while 2026 so far is a broader-activity year with more deals and smaller typical rounds.
- Climate tech is no longer mainly an early venture formation market. First financings represented only 5.6% of year-to-date 2026 deals and 0.4% of capital, showing that investors are primarily funding continuation and scale-up rather than fresh startup creation.
- Seed activity is too small to support a broad new-wave-of-startups narrative. Seed rounds were only 2 of 36 year-to-date 2026 deals and less than 1% of capital, which means formation is visible but economically marginal.
- Series A in climate tech does not mean what Series A means in software. A large Series A fusion or grid-infrastructure round can represent years of technical work and infrastructure ambition, so early-stage labels understate maturity and capital intensity.
- Series B is the key climate tech validation gate. In 2026 so far, Series B was the largest stage by capital, and in 2025 Series B was also the leading stage by capital, suggesting investors concentrate dollars after companies show technical and commercial credibility.
- The market is winner-takes-most even when top-three concentration falls. In 2026 so far, the top 3 deals captured less capital share than over the comparable 2025 period, but the top 10 still captured 73% of all capital.
- The bottom half of climate tech deals consistently captures only around one-tenth of capital. That pattern held in 2024, 2025, and year-to-date 2026, which means aggregate funding totals mostly describe the winners, not the typical company.
- Carbon removal remains more investable by deal count than by capital scale. Carbon Removal Platforms produced 11.1% of year-to-date 2026 deals but only 2.7% of capital, suggesting many companies can raise, but few can yet absorb large infrastructure-style equity checks.
- Adaptation is becoming more visible but not yet deeply capitalized. Climate Adaptation Solutions rose to 5 year-to-date 2026 deals, but only 4.2% of capital, implying that resilience software and infrastructure tools remain smaller-check markets.
- Building decarbonization is conspicuously underrepresented relative to its emissions importance. Only one year-to-date 2026 building-decarbonization deal appeared, suggesting that buildings may be financed more through installers, incumbents, consumer finance, regulation, or project finance than venture equity.
- Industrial Climate Tech's relative decline is one of the most important structural shifts. Industrial Climate Tech fell from 45.2% of 2024 capital to around 7% in year-to-date 2026, meaning the climate capital spotlight moved away from hard-to-abate industry and toward energy systems.
- North America is the dominant scale-financing region. North America captured 76.4% of year-to-date 2026 capital and 84.5% of full-year 2025 capital, making it the center of gravity for large climate tech equity checks.
- Europe is a breadth market, not currently a scale leader. Europe contributed 27.8% of year-to-date 2026 deals but only 19.0% of capital, with a much lower median round size than North America.
- Software remains fundable only when it touches a physical constraint. Grid acceleration, energy procurement, floodplain management, wildfire insurance, and climate-risk intelligence are stronger funding stories than generic ESG or sustainability reporting.
- The climate tech market is consolidating around a problem, not around a technology. Fusion, batteries, geothermal, grid software, power electronics, and wave energy are very different technologies, but they all map to the same investor concern: electricity scarcity.
- The next wave of winners is most visible in energy systems because the category combines huge addressable markets, policy support, strategic demand, and measurable deployment needs. Other climate categories may still produce winners, but the current funding evidence makes those winners less visible.
- The best forecasting rule is to overweight companies that combine climate impact, physical deployment, strategic investors, and immediate infrastructure demand. Companies with only one of those attributes may still raise, but the largest checks increasingly go to companies with all four.
This chart, featured in our climate tech market deck, shows how personal carbon tracking app technology has evolved over time
OUR METHODOLOGY TO BUILD THIS TRACKER
We built this climate tech funding tracker by reviewing publicly disclosed equity rounds raised by pure-play climate tech companies across full-year 2024, full-year 2025, and year-to-date 2026. A company counts as pure-play when more than 80% of its activity is dedicated to technologies whose main purpose is to reduce greenhouse gas emissions or help people, assets, and ecosystems adapt to climate change impacts.
We applied four filters to build the dataset. First, we only included equity rounds, so grants, debt-only financings, project finance, fundraises by investors, acquisitions, and structured financings are excluded unless explicitly treated as equity in the underlying announcement. Second, we only counted rounds of $300K or more. Third, we only kept pure-play climate tech companies, which means broad ESG tools, generic sustainability software, general environmental impact businesses, and consumer products with indirect or marketing-led climate claims are excluded. Fourth, every retained deal had to be supported by a direct company announcement, press release, tier-1 media report, specialized climate source, or relevant regional publication.
We also excluded undisclosed-amount rounds because including them would distort dollar-based metrics such as total capital, average round size, category share, geographic share, and concentration. The final analysis uses disclosed-amount equity rounds only, and every average, median, capital share, deal share, investor count, and concentration ratio is computed on that disclosed public sample. Privately raised, stealth, local-language, paywalled-only, and undisclosed rounds may be missing, which is a known limitation of any public-source climate tech funding tracker.
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