Climate tech
Q1 202429.02.2024

Carbon Tech

Picture of Shubham Jaipuria

Shubham Jaipuria

at Sifted

European carbon tech startups — a wide group of capturers, removers, storers and recyclers —- had a relatively quiet 2023, raising just $376m, a sharp decline from the $1.4bn disbursed to the sector in 2022 (the main culprit: fewer $100m+ “megarounds”). The late-stage scene was drier in 2023 too but things could pick up this year, as the companies that raised mega bucks in 2022 look for a capital refill.

The different technologies are either too expensive (direct air capture), too early (biochar and carbon mineralisation), or too controversial (carbon capture and afforestation projects). But as early-stage innovation picks up and governments try to play catch up with their ambitious net zero targets, expect these technologies to become more commonplace.

20 most promising early-stage startups

  • Again logo

    Sifted score

    8.24
    -

    Again

    CO2 capture and conversion technology.

    • Strong investor(s)
    • Serial founder(s)
    • Hiring

    • Year founded

      2020

    • HQ

      Søborg, Denmark

    • Latest round

      Seed
      €9.1m / Nov 2023

    • Total funding

      €96.3m

    View company profile
  • 44.01 logo

    Sifted score

    7.5
    -

    44.01

    CO2 removal for climate change.

    • Serial founder(s)

    • Year founded

      2020

    • HQ

      London, United Kingdom

    • Latest round

      Grant
      €1.2m / Dec 2022

    • Total funding

      €5.8m

    View company profile
  • Isometric logo

    Sifted score

    7.4
    -

    Isometric

    Domain name marketplace and monetization.

    • Serial founder(s)
    • Hiring

    • Year founded

      2022

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      €22.7m / Jul 2023

    • Total funding

      €22.7m

    View company profile
  • Arkeon Biotechnologies logo

    Sifted score

    7.08
    -

    Arkeon Biotechnologies

    CO2-based protein for sustainable nutrition.

    • Strong investor(s)

    • Year founded

      2021

    • HQ

      Tulln, Austria

    • Latest round

      Seed
      €4m / Dec 2022

    • Total funding

      €10.5m

    View company profile
  • Carbo Culture logo

    Sifted score

    6.98
    -

    Carbo Culture

    Carbon dioxide removal for climate change.

    • Strong investor(s)
    • Serial founder(s)
    • Hiring

    • Year founded

      2017

    • HQ

      Helsinki, Finland

    • Latest round

      Series A
      €16.4m / Nov 2023

    • Total funding

      €24.7m

    View company profile

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