Which startups have raised the most funding in the climate tech market?
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The climate tech market has become one of the largest startup categories in the world, with leading companies raising billions of dollars across batteries, clean power, carbon removal, hydrogen, green materials, and low-carbon mobility.
This ranking is refreshed every month, so investors, founders, and market researchers can follow how the most funded climate tech startups evolve over time.
Based on the dataset below, the top 100 climate tech startups have raised about $84.42B in cumulative funding, with the top 10 alone capturing about 39% of the total.
And if you want to better understand this new industry, you can download our pitch covering the climate tech market.
A quick summary table
| Metric | Value |
|---|---|
| Most funded startup | Northvolt, with $6.8B raised |
| Second most funded startup | Stegra, with $3.6B raised |
| Largest funding round | Stegra, $1.6B equity financing in June 2026 |
| Median funding | About $562M across the top 100 startups |
| Share of funding captured by the top 10 | About 39% of total funding in this ranking |
| Median time since last round | About 2.6 years, based on a median last round date around late 2023 to early 2024 |
| Startups that raised funding in the last 12 months | 22 startups raised funding between July 2025 and July 2026 |
| Climate tech battery funding leaders | Battery, recycling, anode, and storage leaders represent more than $20B in cumulative funding |
| Climate tech startups with public-market outcomes | 4 companies are listed as IPO-stage companies in the dataset |
| Climate tech startups no longer operating independently | 8 companies are listed as acquired or shut down |
This chart, featured in our climate tech market deck, illustrates yearly VC funding for climate tech startups
Top startups in the climate tech market ranked by total funding raised
Here is an updated table that ranks the top startups in the climate tech market based on the total amount of funding they have raised to date.
The table also includes the total number of funding rounds, the date and size of the latest round, the financing type (e.g. Series A, equity financing), key investors, the startup’s current status (active, IPO, acquired, or shut down), and a confidence score based on the data collected (we excluded startups with very low data confidence, to make sure everything is reliable).
If you're interested in knowing how much these startups are worth, you can check our list of the top startups in the climate tech market ranked by valuation.
| # | Startup | What They Do | Total Raised ($) | Total Rounds | Last Round Date | Last Round Amount ($) | Last Round Type | Key Investors | Current Stage | Confidence |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Northvolt | European lithium battery manufacturing | $6.8B | 8 | November 2023 | $150M | Series D extension | CDPQ, BlackRock, Volkswagen | Acquired | Partial |
| 2 | Stegra | Fossil-free green steel | $3.6B | 4 | June 2026 | $1.6B | Equity financing | Wallenberg Investments consortium, existing investors | Active | Strong |
| 3 | Hozon Auto | Electric cars | $3.5B | 9 | August 2023 | $962M | Crossover / pre-IPO | Qihoo 360, CATL, Shenzhen Capital Group | Active | Partial |
| 4 | SVOLT | EV and storage batteries | $3.1B | 3 | December 2021 | $940M | Series B+ | Sichuan Energy Investment, CDH Investments, Han’s Laser | Active | Full |
| 5 | Commonwealth Fusion Systems | Commercial fusion energy | $2.9B | 3 | August 2025 | $863M | Series B2 | NVentures, Google, Breakthrough Energy Ventures | Active | Strong |
| 6 | WM Motor | Electric cars | $2.8B | 7 | December 2021 | $152M | Series D2 | Agile Group, PCCW, Shun Tak | Active | Partial |
| 7 | Octopus Energy | Renewable energy retail platform | $2.6B | 6 | May 2024 | $370M | Growth equity | Generation Investment Management, CPP Investments, Aware Super | Active | Strong |
| 8 | BETA Technologies | Electric aircraft systems | $2.6B | 5 | November 2025 | $1.0B | IPO | GE Aerospace, TPG, Fidelity | IPO | Partial |
| 9 | Crusoe Energy Systems | Clean-powered AI data centers | $2.5B | 6 | October 2025 | $1.4B | Series E | Valor Equity Partners, Mubadala Capital, NVIDIA | Active | Strong |
| 10 | Redwood Materials | Battery recycling and materials | $2.2B | 6 | January 2026 | $425M | Series E | Eclipse, Google, Goldman Sachs Alternatives | Active | Strong |
| 11 | Sunwoda Electric Vehicle Battery | EV battery systems | $2.0B | 4 | May 2026 | $232M | Equity round | Gongying Capital, ABC Financial Asset Investment, United Winners Laser | Active | Strong |
| 12 | Impossible Foods | Plant-based meat alternatives | $1.9B | 11 | November 2021 | $500M | Series H | Mirae Asset, Temasek, Khosla Ventures | Active | Strong |
| 13 | Ola Electric | Electric two-wheelers | $1.7B | 10 | August 2024 | $655M | IPO | SoftBank, Temasek, Tiger Global | IPO | Strong |
| 14 | Enovate Motors | Electric passenger vehicles | $1.7B | 8 | March 2023 | $108M | VC / rescue round | Shanghai Electric, government guidance funds, state-owned banks | Shutdown | Partial |
| 15 | GoodLeap | Sustainable home financing marketplace | $1.6B | 2 | October 2021 | $800M | Growth equity | MSD Partners, BDT Capital Partners, Davidson Kempner | Active | Partial |
| 16 | Helion Energy | Commercial fusion power | $1.5B | 7 | June 2026 | $465M | Series G | Thrive Capital, Sam Altman, Mithril Capital | Active | Partial |
| 17 | Sila Nanotechnologies | Silicon battery anode materials | $1.4B | 15 | June 2024 | $375M | Series G | Sutter Hill Ventures, T. Rowe Price, Coatue | Active | Partial |
| 18 | ROX Motor | Electric SUVs | $1.4B | 7 | September 2023 | $1.0B | Strategic equity | Weiqiao Pioneering, Tencent, Sequoia Capital | Active | Partial |
| 19 | Verkor | Low-carbon battery cells | $1.3B | 8 | October 2024 | Undisclosed | Series C extension | EnerSys, ING, Macquarie | Active | Partial |
| 20 | TAE Technologies | Hydrogen-boron fusion energy | $1.3B | 12 | June 2025 | $150M | Later-stage equity | Chevron, Google, NEA | Active | Partial |
| 21 | KoBold Metals | AI mineral exploration | $1.2B | 5 | October 2025 | $280M | Growth equity | T. Rowe Price, Durable Capital, Breakthrough Energy Ventures | Active | Strong |
| 22 | Form Energy | Iron-air grid batteries | $1.2B | 6 | January 2026 | Undisclosed | Series F follow-on | T. Rowe Price, GE Vernova, TPG | Active | Strong |
| 23 | TeraWatt Infrastructure | Fleet EV charging infrastructure | $1.1B | 2 | September 2022 | $1.0B | Series A | Vision Ridge Partners, Keyframe Capital, Cyrus Capital | Active | Strong |
| 24 | Group14 Technologies | Silicon battery materials | $1.1B | 4 | August 2025 | $463M | Series D | SK Inc., Porsche Investments, ATL | Active | Strong |
| 25 | Ascend Elements | Battery materials recycling | $995M | 6 | February 2024 | $162M | Series D extension | Just Climate, Clearvision Ventures, IRONGREY | Active | Strong |
| 26 | Climeworks | Direct air carbon removal | $953M | 5+ | July 2025 | $162M | Equity round | BigPoint Holding, Partners Group | Active | Partial |
| 27 | Plenty | Indoor vertical farming | $941M | 6 | January 2022 | $400M | Series E | One Madison Group, JS Capital, Walmart | Active | Strong |
| 28 | Hithium | Energy storage batteries | $898M | 6 | July 2023 | $622M | Series C | China Life, Financial Street Capital, ABC International | Active | Strong |
| 29 | Fervo Energy | Next-generation geothermal power | $872M | 4 | December 2025 | $462M | Series E | B Capital, DCVC, Devon Energy | Active | Strong |
| 30 | TerraPower | Advanced nuclear reactor developer | $830M | 1 | November 2022 | $830M | Equity raise | Bill Gates, SK Inc., SK Innovation | Active | Full |
| 31 | Mainspring Energy | Linear clean power generators | $776M | 6 | April 2025 | $258M | Series F | General Catalyst, Amazon Climate Pledge Fund, Temasek | Active | Partial |
| 32 | Newcleo | Advanced nuclear reactors | $755M | 5 | February 2026 | $85M | Equity financing | Danieli, Cementir Holding, existing investors | Active | Partial |
| 33 | Perfect Day | Animal-free dairy proteins | $750M | 6+ | January 2024 | Undisclosed | Later-stage / strategic | Koehler Group, existing investors | Active | Partial |
| 34 | Volocopter | Electric air taxis | $726M | 9 | February 2023 | Undisclosed | Series D+ / follow-on | Sumitomo, NEOM, GLy Capital | Acquired | Strong |
| 35 | Inari | AI-designed crop seeds | $720M | 7 | January 2025 | $144M | Later-stage equity | ADIA subsidiary, Flagship Pioneering, Hanwha Impact | Active | Partial |
| 36 | Xpansiv | Environmental commodities marketplace | $712M | 5 | January 2023 | $125M | Series D follow-on | Bank of America, Goldman Sachs, Blackstone | Active | Strong |
| 37 | Enpal | Home solar subscriptions | $655M | 5 | April 2025 | $110M | Growth equity | TPG, HV Capital, SoftBank | Active | Partial |
| 38 | SFCC | Hydrogen fuel-cell systems | $645M | 1 | December 2022 | $645M | Series B | National Green Development Fund, Hony Capital, CCB International | Active | Partial |
| 39 | Apeel Sciences | Produce shelf-life coatings | $640M | 6 | August 2021 | $250M | Series E | Temasek, GIC, Mirae Asset | Active | Partial |
| 40 | Pivot Bio | Microbial nitrogen fertilizer | $618M | 5 | July 2021 | $430M | Series D | DCVC, Temasek, Generation Investment | Active | Full |
| 41 | Gokin Solar | Photovoltaic silicon wafers | $613M | 2 | August 2022 | $362M | Series B | CICC Capital, Goldstone Investment, Haitong Kaiyuan | Active | Full |
| 42 | 1Komma5° | Home electrification platform | $609M | 5+ | July 2025 | Undisclosed | Series C extension | Sabanci Climate Ventures, G2VP, CalSTRS | Active | Partial |
| 43 | UPSIDE Foods | Cultivated meat from cells | $608M | 4 | April 2022 | $400M | Series C | Temasek, Abu Dhabi Growth Fund, Cargill | Active | Strong |
| 44 | Solugen | Bio-based chemical production | $603M | 4 | November 2022 | $200M | Series D | Kinnevik, Lowercarbon Capital, Refactor | Active | Partial |
| 45 | Electric Hydrogen | Industrial green hydrogen electrolyzers | $602M | 3 | October 2023 | $380M | Series C | Fortescue, Fifth Wall, Energy Impact Partners | Active | Full |
| 46 | ProLogium | Solid-state EV batteries | $576M | 6 | July 2022 | Undisclosed | Strategic equity | VinFast, Mercedes-Benz, Primavera Capital | Active | Partial |
| 47 | Huasun | HJT solar cells/modules | $571M | 2 | November 2023 | $276M | Series C | China Green Development, Bank of China Asset, China Post Insurance | Active | Strong |
| 48 | Monolith | Clean hydrogen and carbon black | $570M | ~14 | September 2024 | Undisclosed | Series D / follow-on | Azimuth Capital, TPG Rise Climate, Warburg Pincus | Active | Partial |
| 49 | Arcadia | Energy data and community solar | $566M | 14 | April 2024 | $50M | Growth equity / Series E | Macquarie Asset Management, Energy Impact Partners, J.P. Morgan Asset Management | Active | Partial |
| 50 | Einride | Electric autonomous freight | $564M | 8 | February 2026 | $113M | PIPE | EQT Ventures, West Coast asset manager | IPO | Strong |
| 51 | Palmetto | Residential clean energy platform | $560M | 4 | March 2023 | $150M | Growth equity | TPG Rise Climate | Active | Partial |
| 52 | Livekindly | Plant-based food group | $535M | 3 | March 2021 | $335M | Growth equity | The Rise Fund, Rabobank, S2G Ventures | Active | Strong |
| 53 | Amarenco | Solar IPP platform | $523M | 4+ | March 2023 | $322M | Series D | Arjun Infrastructure, Tikehau Capital, Crédit Agricole | Active | Partial |
| 54 | OVO Energy | Renewable energy supplier | $516M | 4 | July 2023 | $258M | Series D / growth equity | Mayfair Equity Partners, Morgan Stanley | Acquired | Partial |
| 55 | Infarm | Vertical urban farming | $502M | 7 | December 2021 | $200M | Series D | Qatar Investment Authority, Atomico, Lightrock | Shutdown | Partial |
| 56 | Spiber | Fermented protein materials | $490M | 8 | April 2024 | $65M | Series E extension | Carlyle, Fidelity, Baillie Gifford | Active | Full |
| 57 | Aiways | Electric cars | $486M | 6 | January 2022 | Undisclosed | Series D | Shagang Group, DiDi, CATL | Active | Partial |
| 58 | Turntide Technologies | Efficient motors and electrification | $485M | 5 | June 2022 | $80M | Equity funding | OGCI Climate Investments, SEEIT | Active | Partial |
| 59 | Bowery Farming | Indoor vertical farming | $472M | 5 | May 2021 | $300M | Series C | Fidelity, GV, General Catalyst | Shutdown | Partial |
| 60 | Svante | Carbon capture filter technology | $470M | 7 | November 2024 | $11M | Strategic funding | InBC Investment Corp. | Active | Partial |
| 61 | NotCo | AI plant-based foods | $466M | 8 | December 2022 | $70M | Series D extension / D1 | Princeville Capital, Bezos Expeditions, L Catterton | Active | Partial |
| 62 | Nature’s Fynd | Fungi-based alternative protein | $463M | 3 | July 2021 | $350M | Series C | SoftBank Vision Fund 2, Blackstone, Hillhouse | Active | Full |
| 63 | Aira | Residential heat pump systems | $440M | 4 | August 2025 | $175M | Equity financing | Altor, Kallskär, Temasek | Active | Strong |
| 64 | Boston Metal | Decarbonized metals electrolysis | $427M | 6 | May 2026 | $75M | Later-stage / Series C+ | Tata Steel, Climate Investment, Prelude Ventures | Active | Partial |
| 65 | Sunfire | Industrial green hydrogen electrolyzers | $387M | 4+ | March 2024 | $233M | Series E | LGT Private Banking, GIC, Ahren Innovation Capital | Active | Partial |
| 66 | Twelve | CO2-to-fuels and chemicals | $387M | 3 | September 2024 | $200M | Series C | TPG Rise Climate, Capricorn, Pulse Fund | Active | Strong |
| 67 | Meati Foods | Mushroom-root meat alternatives | $356M | 7 | May 2024 | $100M | Series C-1 | Grosvenor Food & AgTech, BOND, Prelude Ventures | Active | Strong |
| 68 | Rad Power Bikes | Electric bicycles | $329M | 4 | October 2021 | $154M | Series D | Fidelity, T. Rowe Price, The Rise Fund | Active | Full |
| 69 | Our Next Energy | EV battery systems | $325M | 2 | February 2023 | $300M | Series B | Fifth Wall, Franklin Templeton, Temasek | Active | Partial |
| 70 | Ample | EV battery swapping stations | $301M | 5 | November 2024 | $25M | Strategic equity | Mitsubishi Corporation | Active | Partial |
| 71 | Yuze Semiconductor | N-type solar wafers | $296M | 2 | January 2023 | $178M | Series B | National Green Development Fund, Goldstone Investment, SDIC Chuanghe | Active | Partial |
| 72 | ZeroAvia | Hydrogen-electric aircraft powertrains | $264M | 7 | December 2025 | Undisclosed | Late-stage financing | Barclays Climate Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund | Active | Partial |
| 73 | Newlight | Carbon-based biomaterials | $220M | 5 | August 2023 | $125M | Equity round | GenZero, Oxy Low Carbon Ventures, Charter Next Generation | Active | Partial |
| 74 | HysetCo | Hydrogen mobility infrastructure | $217M | 1 | April 2024 | $217M | Growth equity | Hy24, RAISE Impact, Eiffel Investment Group | Active | Strong |
| 75 | Electra | Clean iron for steelmaking | $214M | 2 | April 2025 | $186M | Series B | Capricorn, Temasek, BHP | Active | Partial |
| 76 | First Mode | Zero-emission mining truck systems | $209M | 2 | January 2023 | $200M | Equity injection | Anglo American | Shutdown | Full |
| 77 | StoreDot | Extreme fast-charging EV batteries | $206M | 5 | January 2022 | $80M | Series D | VinFast, bp ventures, Golden Energy | Active | Strong |
| 78 | Heirloom | Direct air capture | $203M | 4 | December 2025 | Undisclosed | Strategic / Series B extension | Development Bank of Japan, Chiyoda | Active | Strong |
| 79 | TELD | EV charging network | $193M | 1 | March 2020 | $193M | Series A | CDH Investments, China Reform Fund, TGOOD | Active | Strong |
| 80 | Electra.aero | Hybrid-electric short-takeoff aircraft | $188M | 4 | April 2025 | $115M | Series B | Prysm Capital, Lockheed Martin Ventures, Honeywell | Active | Partial |
| 81 | CarbonCure | CO2 mineralized concrete | $162M | 9 | July 2023 | $80M | Series F | Blue Earth Capital, Amazon, Microsoft | Active | Partial |
| 82 | Heart Aerospace | Hybrid-electric regional aircraft | $154M | 4 | February 2024 | $107M | Series B | Sagitta Ventures, Air Canada, Breakthrough Energy Ventures | Active | Strong |
| 83 | Mosa Meat | Cultivated beef production | $154M | 4 | December 2025 | $18M | Series C-II | Lowercarbon Capital, M Ventures, Invest-NL | Active | Strong |
| 84 | Greater Bay Technology | Fast-charging EV batteries | $150M | 3 | May 2026 | Undisclosed | Series A+ | Skyworth Venture Capital, Rivotek Technology | Active | Partial |
| 85 | Fox ESS | Energy storage inverters | $141M | 1 | June 2023 | $141M | Pre-IPO / Series D | Ori-mind Capital, Panorama Capital | Active | Full |
| 86 | Star Charge | EV charging systems | $126M | 3 | May 2021 | Undisclosed | Series B | Hillhouse, IDG Capital, Schneider Electric | Active | Partial |
| 87 | Charm Industrial | Bio-oil carbon removal | $125M | 3 | June 2023 | $100M | Series B | General Catalyst, Lowercarbon Capital, Kinnevik | Active | Partial |
| 88 | Sublime Systems | Low-carbon cement | $121M | 7 | September 2024 | $75M | Strategic equity/offtake | CRH, Holcim | Active | Partial |
| 89 | Nexii Building Solutions | Low-carbon modular building panels | $113M | 3 | July 2022 | $35M | Growth equity | Horizon Technology Finance, Trinity Capital | Acquired | Low |
| 90 | LanzaJet | Sustainable aviation fuel technology | $102M | 4 | February 2026 | $47M | Equity first close | IAG, Shell, Groupe ADP | Active | Partial |
| 91 | H2Pro | Green hydrogen electrolyzers | $101M | 3 | January 2022 | $75M | Series B | Temasek, Horizons Ventures, ArcelorMittal | Active | Partial |
| 92 | Oxford PV | Perovskite solar cells | $100M | 5 | July 2019 | $82M | Series D | Meyer Burger, Goldwind, Equinor | Active | Partial |
| 93 | H55 | Electric aircraft propulsion systems | $96M | 3 | July 2024 | $74M | Series C | Government of Québec, +ND Capital, Tippet Venture Partners | Active | Partial |
| 94 | CarbonCapture | Modular direct air capture | $88M | 2 | March 2024 | $80M | Series A final close | Prime Movers Lab, Amazon Climate Pledge Fund, Aramco Ventures | Active | Partial |
| 95 | Infinium | Synthetic eFuels | $69M | 4 | January 2025 | Undisclosed | Series C preferred | Brookfield, Mitsubishi Corporation, DBJ | Active | Partial |
| 96 | Brimstone | Carbon-negative cement | $60M | 2 | April 2022 | $55M | Series A | Breakthrough Energy Ventures, DCVC, Amazon Climate Pledge Fund | Active | Full |
| 97 | Uplight | Utility customer energy software | $30M | 2 | March 2025 | $30M | Series A | Schneider Electric, Coatue, Huck Capital | Acquired | Low |
| 98 | Prometheus Fuels | CO2-to-electrofuel production | $24M | 4 | 2021 | Undisclosed | Series B | Maersk Growth, BMW i Ventures, Metaplanet | Active | Partial |
| 99 | OCSiAl | Graphene nanotube materials | $5M | 4 reported | July 2021 | Undisclosed | Corporate minority | Daikin Industries, A&NN Group, Rusnano | Active | Partial |
| 100 | Clean Planet | Hydrogen heat technology | $3M | 2 | March 2026 | $3M | Series B / strategic | Sankei Building, Miura | Active | Partial |
This market map, featured in our climate tech market deck, highlights top companies and startups in the climate tech market
Key funding trends in the climate tech market
Insights
- Climate tech funding is highly concentrated, with the top 10 startups raising about $32.6B, or roughly 39% of all funding in this top 100 ranking.
- Battery and energy-storage startups form the strongest investable core of the climate tech market, with major funding across cell manufacturing, recycling, anodes, and grid storage.
- Industrial decarbonization is moving into infrastructure-scale financing, as Stegra raised $3.6B across only four rounds and Boston Metal continued to attract later-stage capital.
- Fusion energy has become one of the most heavily funded climate tech categories, with Commonwealth Fusion Systems, Helion Energy, and TAE Technologies together raising about $5.7B.
- Climate tech and AI infrastructure are starting to overlap, with Crusoe Energy Systems reaching $2.5B after positioning clean-powered data centers as a bridge between energy and AI demand.
- Alternative protein remains one of the largest climate tech subcategories, but many leading rounds happened before 2022, which suggests investor momentum has cooled versus batteries, fusion, and geothermal.
- Direct air capture is still earlier in the capital cycle, with Climeworks, Heirloom, and CarbonCapture raising far less than the largest battery, fusion, and clean mobility leaders.
- Public exits remain limited in the climate tech market, with only a small number of IPO-stage companies appearing despite the very large private funding totals.
As this chart shows, and as featured in our climate tech market deck, search interest in climate change has continued to rise
A few word about our methodology
As you can see, we built a database that ranks startups in the climate tech market based on their total cumulative fundraising. To create this ranking, we reviewed many sources and cross-checked information across multiple places.
Whenever possible, we prioritized official company communications, since they are the most reliable source for funding amounts. When those were not available, we relied on reputable industry sources such as TechCrunch, Crunchbase, Financial Times or Forbes (to name a few).
We excluded random blogs, unverified websites, and any sources that could not be validated.
When funding rounds were announced in other currencies such as euros, Swiss francs, Singapore dollars, Australian dollars, rupees, yuan, pounds, or yen, we converted them into approximate USD equivalents for consistency.
Sometimes different sources report slightly different numbers, or the exact round size is not fully disclosed. In those cases, we flag the uncertainty and assign a confidence label to each startup, visible in the last column.
Here is what they mean.
Full confidence: The company’s equity fundraising history can be reconstructed completely from public sources. The rounds, dates, amounts, and key investors are clearly identified, with no meaningful gaps.
Strong confidence: The fundraising history is largely complete and reliable. There may be a small missing detail, such as incomplete investor information or a minor round with limited data, but the overall record is clear.
Partial confidence: The main fundraising rounds can be identified, but the record is incomplete or somewhat mixed. Some rounds may be missing or certain funding events may be difficult to separate clearly.
Low confidence: Public information is too limited, inconsistent, or ambiguous to reliably reconstruct the company’s equity fundraising history.
When the confidence level is too low, we take a conservative approach and exclude the company from the ranking. We don’t want to include data that cannot be reliably verified.
This reflects how we conduct all our research, including the work behind our report covering the climate tech market.
In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.
If you want the full detail on a specific calculation, feel free to contact us and we will gladly explain.
Finally, know that we update the dataset once per month, so come back here if you need fresh information.
This chart, featured in our climate tech market deck, looks at First Solar’s strategy in climate tech
Related blog posts
- The latest news in the climate tech market
- What are the latest funding developments in climate tech?
- What has changed recently in the climate tech market?
- The evolution of funding activity in climate tech
- The main fundraising trends in climate tech
- How big is the climate tech market today?
- The full range of business models in the climate tech market
