As the Web Summit unfolds in Lisbon, our team is bustling through various events and meetups. Today evening, together with SET Ventures, we are hosting—a delightful dinner and drinks to re-connect with friends in the energy, sustainability, and climate tech fields. If you’re around, we’d love to hear from you. Let us know here.
In today’s issue, we talk about our latest report reviewing funding activity in October and a special focus on the investment trends in the alternative fuels sector, climate tech updates, latest deals, and lastly open calls for climate tech startups.
Let’s get into it!
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📩 Got deal announcements or updates? Share them with us at praneet@netzeroinsights.com
Oct’23 in Review and Spotlight on Alternative Fuels
📈 With over $7.5B raised in climate tech funding across 398 deals, the numbers in October signal continued optimism with the improving funding and deal count numbers compared to the rest of the year.
💰October witnessed eleven $100M+ rounds, comprising 65% of October’s funding. Major deals included a $2.5B round by China-based GACAion, and a $800M+ round by US-based Footprint.
🌱 A large deal in the alternative fuels space prompted us to look further into the sector. Revealing a growing trend of equity deals, strategic acquisitions and technology solutions all leading the sector towards a more mature ecosystem.
Interesting Updates
From the world of climate tech and beyond 🗞️
⚡️ The global energy sector sees a surge in clean tech job opportunities while facing skill shortages, IEA report examines energy employment worldwide by region and technology.
🚢 The world’s first battery-powered container ship made its maiden voyage in China last week.
💼 Check out this article talking about the transition risks in response to climate change and the opportunity, by Jessica Burley from Planet A Ventures.
🌪️ US’s first commercial carbon capture facility was opened last week, by Heirloom, winner of one of the largest tier grants from the U.S. Department of Energy.
🛢️ COP28 is in two weeks, and it is hosted by the United Arab Emirates in Dubai. The fact that it is presided over by the CEO of the state oil company- ADNOC, is creating claims of conflict of interest by various groups across the globe.
Deals you should know about!
In the last two weeks from across the world in climate tech 🌎
⚙ United States, Round Rock-based Infinitum, developing motor technology for high efficiency, durable, lightweight, and IoT-enabled electric motors, raised $185M in a Series E round.
🚗 United States, Ann Arbor-based May Mobility, developing autonomous vehicle (AV) technology for commercial fleets, raised $105M in a Series D round.
🏭 United States, Wilmington-based Seurat Technologies, developing a 3D metal printing system designed for high-volume, decarbonized industrial production, raised $99M in a Series C round.
🔄 Austria, Vienna-based refurbed, operating an online retail marketplace for selling refurbished electronics, raised $57M in a Series C round.
💊 Zurich, Switzerland-based SkyCell AG, developing solutions to optimise the pharmaceutical supply chain optimization, raised $57M in a Growth Equity round.
💧 United States, Ontario-based Fibracast Ltd., developing an innovative membrane technology for wastewater treatment, raised $45M in an Early VC round.
🐤 Netherlands, Leiden-based In Ovo, developing solutions for the poultry industry, focusing on the early identification of the gender of chicken embryos, raised $42M in a Debt round.
🛵 Indonesia, Jakarta-based Volta Indonesia, manufacturing electric scooters and battery-powered tricycles, raised $35M in an Early VC round.
🔧 United States, Minneapolis-based Niron Magnetics, Inc., developing advanced magnetic materials for rare earth-free permanent magnets, raised $33M in a Late VC round.
☁️Netherlands, Amsterdam-based Skytree, developing CO2 capture and reutilization solutions, raised $2.7M in Grant funding.
There is more!
These are just 10 of the 120+ deals we recorded on the Net0 platform during the last two weeks. Connect with us for more deals and in-depth insights into the climate tech funding landscape.
Book a Demo
Open Calls for Climate Tech Startups
Having a deadline for applications in November 📆
Check out our latest LinkedIn post highlighting top open calls or check out the entire running list of open calls.
📢 Calling all climate tech startups!
Verify your achievements on our platform to boost your visibility in front of leading climate investors and receive free access to our curated investor database.
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