VCs invested €60BN in climate tech last year — here’s where it went

Despite the tech startup funding landscape appearing gloomier than in many years, there are a few potential bright spots. Long-term climate targets in Europe and beyond are creating new opportunities for cleantech developers and investors. 

While there may be a recent dip in activity, funding has practically catapulted the past couple of years. In order to recover from our addiction to fossil fuels, it is going to take a fundamental shift of the current paradigm. And there are significant amounts of money being thrown at the problem. 

As reported by Bloomberg, the total global investment into the energy transition, private and public, reached $1.1 trillion in 2022. This was up from a mere $214 billion ten years prior, and the numbers have positively skyrocketed since 2020.

Graph showing climate tech investment from 2004 until 2022

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