Startups working on carbon

 

Startups working on carbon and emissions-related technology raked in $13.8B in venture funding in 2022.   The funding was close to the record-setting VC funding total of $14.1B for the sector in 2021, missing the target by less than 2%.  The strong funding trend indicates a high level of investor interest in the carbon technology sector, which has helped firms overcome the venture funding slump. Per Reuters, the supporting policy changes introduced in the Inflation Reduction Act and the aggressive targets set by organizations to cut emissions will spur investment in early-stage startups.  Within the carbon tech sector, startups working on carbon removal technologies nabbed the most funding.  In 2022, funding deployed in carbon removal startups was the highest on record.  Canadian carbon capture startup Svante's $318M Series E fundraising led by Chevron Technology Ventures was the largest deal in the sector in the last three months of 2022.