The Latest Climate Tech Deals and Funds #35

At Net Zero Insights, we track real-time Climate Tech funding and investment trends, helping you stay ahead of market movements. Over the past two weeks, we’ve recorded 255 deals and the launch of 14 new climate-focused investment funds.

New Climate Tech Investment Funds

These new funds are powering clean energy, logistics, AI, biotechnology, cold storage infrastructure and more.

• Acumen secured an additional $90M for its Acumen Resilient Agriculture Fund II (ARAF II), expanding investments in climate-resilient agribusinesses supporting smallholder farmers across Africa.
• Warren Equity Partners closed its oversubscribed $2.8B Fund V to invest in companies maintaining and upgrading critical infrastructure across power & utilities, water, transportation, waste, digital infrastructure, and buildings.
• Quinbrook closed its oversubscribed £587M ($785M) Renewables Impact Fund II (QRIF II) to invest in renewable energy, energy storage, and grid infrastructure across the UK and Ireland, supporting the regions’ 2030 clean energy targets.
• Suzuki-backed Next Bharat Ventures launched a ₹2,000 crore ($233M) impact fund to invest in startups improving livelihoods across rural India, with a focus on agriculture, financial inclusion, healthcare, rural mobility, and AI for social good.
• Deutsche Bank facilitated a $50M investment from the Green Climate Fund into the Mekong Earth Regeneration Fund (MERF), supporting climate-resilient agriculture, forestry, and aquaculture across Vietnam and Laos through blended finance.
• Climentum Capital reached a €60M first close for its second climate fund, targeting €100M to back Seed and Series A hard-tech startups focused on energy, industry, transport, and agriculture across Europe.
• Denmark-based PSV launched a new DKK 450M ($70M) climate tech fund to invest in at least 20 early-stage European startups developing decarbonization technologies across energy, industry, transport, and agriculture.
• Catalyst Fund reached a $30M second close for its debut fund to back up to 40 pre-Seed to Series A African climate resilience startups across agriculture, food systems, energy, water, mobility, and fintech.
• Climentum Capital reached a €60M first close for Fund II, backed by the European Investment Fund (EIF), EIFO, and IDA, to invest in around 20 Seed and Series A hard-tech startups advancing Europe’s industrial resilience, energy security, and decarbonization.
• Starwood Capital Group closed its $10.2B Starwood Distressed Opportunity Fund XIII to invest in residential, data centers, industrial, and hospitality real estate across the US, Europe, and selected Asia-Pacific markets.
• Tapestry VC closed an $80M third fund to invest in repeat European founders at the pre-seed and seed stages, with a focus on AI, enterprise software, cybersecurity, manufacturing, robotics, and climate tech.
• Impact Fund Denmark reached a final close of DKK 5B ($760M) for SDG Fund II, a blended finance fund investing in high-impact companies across 13 emerging and developing markets to advance the UN Sustainable Development Goals.
• InvestEco closed its largest-ever C$106M ($77M) Sustainable Food Fund IV to invest in high-growth food and agriculture companies advancing healthier, more sustainable food systems across North America.
• Generation Investment Management closed Sustainable Private Equity Fund II with over $1B to invest in mission-critical businesses driving sustainability transformation across industries, with investments including Octopus Energy, Kraken Technologies, and IFS.

Top Climate Tech Funding Rounds

The past two weeks saw major funding flow into fusion tech, EVs, data center infrastructure, SAFs, aquaculture, and more.

Munich, Germany-based Proxima Fusion raised $469M, led by XTX Ventures, East X Ventures, Google, RWE, Plural, UVC Partners, and others, to advance its stellarator fusion technology and develop Europe’s first commercial fusion power plant.

Hamina, Finland-based Fintoil secured a $120M funding round from HitecVision and Taaleri to scale its crude tall oil biorefinery and expand production of advanced biofuels and bio-based chemicals.

Tokyo, Japan-based Turing completed a $79M Series A extension round with participation from AMD Ventures, Mitsubishi Corporation, MUFG, GMO Internet, Tokyo Electron Device, Ltd., and others, to scale its end-to-end autonomous driving AI and physical foundation models for fully autonomous vehicles.

County Durham, UK-based Everflow secured a $59M funding package, comprising growth equity from BGF and debt financing from OakNorth, to expand its digital multi-utility platform, invest in AI capabilities, pursue acquisitions, and grow its waste management services across the UK.

Tokyo, Japan-based Starlight Engine Ltd. raised $37.4M in its first external funding round, led by Global Brain Corporation, with participation from Mitsubishi UFJ Capital Co.,Ltd., SMBC Venture Capital, Mizuho, Shimizu Corporation, OBAYASHI CORPORATION, and Japan Airlines, among others, to accelerate development of its FAST tokamak fusion reactor and commercial fusion energy technology.

San Jose, US-based Savor closed a $32M funding round, with participation from AAK, among other investors, to scale production of its thermochemical carbon-to-fat technology that produces agriculture-free specialty fats for dairy alternatives and bakery applications.

Pescadero, US-based Hippo Harvest closed a $30M Series C round led by Cox Farms, with participation from Congruent Ventures, Hawthorne Food Ventures, Collaborative Fund, and Fresh Investment Club, among others, to scale its robotics- and machine learning-powered greenhouse platform for growing USDA-certified organic leafy greens with lower water use and reduced environmental impact.

Singapore-based Rize raised a $31M Series B, comprising $20M in equity and $11M in debt financing, led by BNP Paribas Asset Management, with participation from Temasek, Breakthrough Energy, and others to scale its technology platform for sustainable rice farming, enhancing field-to-buyer traceability, alternate wetting and drying (AWD) adoption, carbon certification, and smallholder farmer financing across Southeast Asia.

Paris, France-based Syntetica raised a $30M Series A led by Ecotechnologies 2, with participation from lululemon and MAS Holdings, among others, to scale its chemical recycling technology that converts mixed Nylon 6 and Nylon 6,6 textile waste into virgin-quality recycled nylon.

Noblesville, Indiana-based ReElement Technologies secured a $25M investment from the U.S. Department of Defense to expand its rare earth refining technology and domestic production of recycled magnets and critical minerals, including rare earth elements, gallium, and germanium, for defense and advanced manufacturing applications.

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