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

    View company profile
  • 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

    View company profile
  • 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

    View company profile
  • 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

    View company profile
  • 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

    View company profile

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