What a year 2021 was for climate tech! Investors poured nearly $37B into climate tech companies, a 10x increase in just 6 years. And SOSV produced the first Climate Tech Summit, which included more than 60 iconic investors and startups such as Bill Gates, Vinod Khosla, Katie Rae, Tony Fadell, Form Energy, Upside Foods, Pivot Bio, and many more—here’s a recap.
2022 is here and SOSV is ready to convene the ecosystem once again. On October 25 & 26, we will produce the SOSV Climate Tech Summit 2022, and once again it will be virtual and free to all attendees. Register today.
Our goal once again is to deepen the climate tech startup ecosystem by surfacing the perspectives of top founders and investors across the enormous spectrum of disruptive innovation that the climate challenge demands. If 2021 was the year of accelerating investment and the first major climate tech scale-ups, 2022 is already clearly emerging as a year of existential challenges as a result of war in the Ukraine, global economic instability, and a less certain funding environment. The panel and fireside chats at this year’s event will bring those critical topics to the forefront, as well as highlight the continuing momentum from 2021.
While it will take time to see the “8 to 10 Tesla, Microsoft, Amazon, Google”-sized climate tech companies envisioned by Bill Gates at last year’s summit, or the 1000 climate tech unicorns predicted by both SOSV’s Founder Sean O’Sullivan and BlackRock’s CEO Larry Fink, there are many encouraging signs that we are on the right track:
- More specialized climate tech funds are active than at any time in history, with about 70 new firms started in 2021.
- Many large rounds were raised by companies such as Northvolt (EV batteries, $2.8B), Commonwealth Fusion Systems (nuclear fusion, $1.8B), Redwood Materials (battery recycling, $700M), Perfect Day (milk protein, $350M), and many more.
- There are now 46 climate unicorns, more than the 39 global unicorns when the term was coined in 2013 by Aileen Lee, founder of Cowboy Ventures. Their collective valuation exceeds $50B.
- Notable companies have gone public such as EV maker Rivian (currently valued at $38B) and milk alternative company Oatly ($3.4B).
- The valuation of the SOSV Climate Tech 100 reached an aggregate value of $10 billion, based on $123 million in SOSV investment and $3 billion total capital raised.
Our SOSV team is already hard at work on the new event, and we welcome suggestions on the programming front. The summit will also offer breakout sessions from top early stage climate investors as well as networking specifically for founders and investors. We will let everyone know more about that in the weeks to come.
Please check out the 2021 highlights below remember to register!