Climate tech
Q3 202422.08.2024

Climate intelligence (Q3 2024)

Picture of Éanna Kelly

Éanna Kelly

at Sifted

One of the big pursuits of the future is figuring out the climate change price tag for businesses, real estate, supply chains and cities.

To this end, VCs are pumping hundreds of millions of pounds into the rapidly growing world of climate intelligence — which includes the data, risk models, tailored analyses and insights institutions need to understand and respond to climate risks.

The sector’s pull is growing, as more researchers move from universities to industry so their expertise can be applied more directly.

Funding for Europe’s early-stage climate intel startups in 2024 could surpass 2023 figures, per Dealroom figures. The sector has soaked up $335m so far this year, compared to $412m for all of 2023 (the sector’s peak was $507m in 2022). The European Innovation Council and the EU Agency for the Space Programme are the big public backers in Europe. The top VC backers include US investor Plug and Play and London’s Seraphim Space.

There are uncertainties about the shape of this market. Carbon credits are still unregulated and untrusted (by many). Companies could face scepticism about how they calculate risks — and there will surely be debates on the ethics of paywalling climate information.

20 startups to watch

  • Kita logo

    Sifted score

    8.85
    -

    Kita

    Carbon market risk insurance solution

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2021

    • HQ

      Worcester, United Kingdom

    • Latest round

      Seed
      4.8m / Feb 2023

    • Total funding

      5.2m

  • OroraTech logo

    Sifted score

    8.11
    -

    OroraTech

    Real-time wildfire prediction using satellites.

    • Strong investor(s)
    • Hiring
    • Year founded

      2018

    • HQ

      Munich, Germany

    • Latest round

      Grant
      20m / Jul 2024

    • Total funding

      41.9m

  • Jua logo

    Sifted score

    7.72
    -

    Jua

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

      2022

    • HQ

      Zurich, Switzerland

    • Latest round

      Seed
      14.6m / Feb 2024

    • Total funding

      16.8m

  • Wildsense logo

    Sifted score

    7.13
    -

    Wildsense

    • Strong investor(s)
    • Serial founder(s)
    • Year founded

      2020

    • HQ

      Paris, France

    • Latest round

      Seed
      5m / Mar 2023

    • Total funding

      5.0m

  • HyLight logo

    Sifted score

    6.93
    -

    HyLight

    • Strong investor(s)
    • Hiring
    • Year founded

      2022

    • HQ

      Le Plessis-Pâté, France

    • Latest round

      Seed
      3.7m / Apr 2024

    • Total funding

      4.2m

Related Briefings

Related articles

French space tech Loft Orbital hits billion-dollar valuation with €170m raise

January 14, 2025

French space tech Loft Orbital hits billion-dollar valuation with €170m raise

By Daphné Leprince-Ringuet
Bavaria overtakes Berlin in startup fundraising for the first time

January 14, 2025

Bavaria overtakes Berlin in startup fundraising for the first time

A picture of Munich during the summer.
By Miriam Partington and Anne Sraders
How to pitch a climate tech startup to a corporate venture capital fund

January 14, 2025

How to pitch a climate tech startup to a corporate venture capital fund

Shell Ventures’s venture principal, Hector MacQuarrie and managing partner, Quennie Co
Sponsored by Shell Ventures
France almost doubled AI investment in 2024 but trails UK and Germany overall

January 14, 2025

France almost doubled AI investment in 2024 but trails UK and Germany overall

By Martin Coulter and Daphné Leprince-Ringuet
Belgium’s Vertical Compute raises €20m seed to tackle AI chips’ memory bottleneck

January 14, 2025

Belgium’s Vertical Compute raises €20m seed to tackle AI chips’ memory bottleneck

By Daphné Leprince-Ringuet
92% of the UK’s Russell Group universities now have a university-affiliated venture fund for spinouts

January 14, 2025

92% of the UK’s Russell Group universities now have a university-affiliated venture fund for spinouts

By Tom Nugent
Pro
Exclusive: Google alumni and Owkin researchers raise $41m to build GenAI models for biology

January 14, 2025

Exclusive: Google alumni and Owkin researchers raise $41m to build GenAI models for biology

By Daphné Leprince-Ringuet
Startups back UK’s AI strategy — but concerns over energy supply and lack of scaleup funding remain

January 13, 2025

Startups back UK’s AI strategy — but concerns over energy supply and lack of scaleup funding remain

By Kai Nicol-Schwarz
UK government appoints Matt Clifford to oversee AI ‘revolution’ in public services

January 13, 2025

UK government appoints Matt Clifford to oversee AI ‘revolution’ in public services

By Kai Nicol-Schwarz
UK founders are no longer the best-paid in Europe
Startup LifeAnalysis

January 13, 2025

UK founders are no longer the best-paid in Europe

But founders all over the continent have given themselves pay rises in the past year

By Amy Lewin
The EU regulations to look out for in 2025

January 13, 2025

The EU regulations to look out for in 2025

Picture of Arba Kokalari, MEP at the European Commission.
By Mimi Billing
UK government announces grand AI plan with infrastructure investment taking centre stage

January 12, 2025

UK government announces grand AI plan with infrastructure investment taking centre stage

By Kai Nicol-Schwarz
Why only raising from Tier 1 VCs isn’t always a good strategy

January 10, 2025

Why only raising from Tier 1 VCs isn’t always a good strategy

By Anne Sraders
US aerospace and defence giant Lockheed Martin plans to invest more in European startups
Defence techInterview

January 10, 2025

US aerospace and defence giant Lockheed Martin plans to invest more in European startups

Chris Moran, vice president and general manager of Lockheed Martin Ventures.
By Anne Sraders
Talent shortage hits quantum startups amid funding frenzy and tech breakthroughs
DeeptechAnalysis

January 10, 2025

Talent shortage hits quantum startups amid funding frenzy and tech breakthroughs

By Kai Nicol-Schwarz and Daphné Leprince-Ringuet
Pro
Tencent-backed XR startup Ultraleap looks to sell assets after breaching £15m loan

January 9, 2025

Tencent-backed XR startup Ultraleap looks to sell assets after breaching £15m loan

By Kai Nicol-Schwarz
Does Europe need to be more like the US?
Startup LifeAnalysis

January 9, 2025

Does Europe need to be more like the US?

The debate has intensified at a time where Europe's economic progress has stagnated and countries are battling to dominate the next wave of critical technology

By Miriam Partington
'We're fully financed' says Northvolt's sister company Stegra
Climate TechAnalysis

January 9, 2025

'We're fully financed' says Northvolt's sister company Stegra

Stegra's site in Boden, Sweden
By Freya Pratty
London startup raises $410m in one of Europe’s biggest ever Series A rounds as it joins weight loss drugs frenzy

January 9, 2025

London startup raises $410m in one of Europe’s biggest ever Series A rounds as it joins weight loss drugs frenzy

By Kai Nicol-Schwarz
The reality of joining a startup as a founder… four years ‘late’

January 9, 2025

The reality of joining a startup as a founder… four years ‘late’

Gabrielle Sergent, cofounder and CPO at Klaro, and Augustin Celier, partner at Hexa Scale.
By Gabrielle Sergent and Augustin Celier
Gulf investment into European tech halved in 2024
Analysis

January 9, 2025

Gulf investment into European tech halved in 2024

Gulf investment into European tech halved in 2024
By Freya Pratty
Pro
Revolut targets wealthy clients with move into private banking

January 8, 2025

Revolut targets wealthy clients with move into private banking

By Tom Matsuda
14 predictions for French tech in 2025

January 8, 2025

14 predictions for French tech in 2025

A photo of Koussée Vaneecke, chair of startup incubator Euratechnologies
By Daphné Leprince-Ringuet
The tech events Sifted will be attending in 2025
Startup LifeAnalysis

January 8, 2025

The tech events Sifted will be attending in 2025

The tech events Sifted will be attending in 2025
By Mimi Billing