SOSV has always been keen on technology and startups that promise better human and planetary health. In recent years, climate tech has been an especially big priority at our IndieBio (biotech) and HAX (hard tech) startup development programs, and a steady emphasis at MOX (global mobile consumer) and Chinaccelerator (enterprise Asia). The SOSV Climate Tech 100 marks the first time we’ve analyzed our 1,000 company portfolio to present our top climate tech investments.
We are pleased to report that as of April 2021 the SOSV Climate Tech 100 have raised $1.85 billion from investors and have a market cap of $5.65 billion. The average company is four years old. SOSV has invested $89 million in these companies and was in most cases the first investor, though we continued investing through early rounds. (As of January 2022, SOSV’s investments had increased to $123 million in those same top 100 climate tech companies, and they in turn had raised over $3 billion, with an aggregate valuation of $10 billion.)
The achievements of science in the past 20 years have given mankind the unprecedented ability to re-engineer the material world. As a result, we have the nearly miraculous ability to turn the tide on climate change. From my vantage point at SOSV, I am convinced that we are witnessing a remarkable coming together of the advances in technology, the societal commitment, and the financial wherewithal that we need to solve the greatest threat facing humanity.Sean O’Sullivan, SOSV Managing Partner
Not all the companies on the list contribute in the same way to climate tech, so we grouped them in three broad tiers. The core (71) are companies that aim to disrupt incumbent, carbon-intensive technologies. The adjacent (25) are companies that have an indirect impact on climate change, for example by re-using waste or power consumption. And marketplaces (4) typically provide consumers with more cost and carbon efficient solutions.
Here are a few data points to help navigate The SOSV Tech Climate 100. We divided the companies into five industry categories: Food (50), Manufacturing (28), Transport (9), Energy (7) and Building Systems (6). There are 14 countries represented, with the US (65), Canada (9), Singapore (6), and the UK (6) topping the list. 40 percent of the companies have at least one female founder. For a deeper dive in the Climate Tech 100 numbers, check out this post and to better understand the investors in climate tech, turn to this analysis on TechCrunch of the 500+ co-investors in our climate tech 100. And a final note: SOSV has invested in more than 40 additional climate tech companies that we also love but didn’t make the cut this year!
- Pushme was acquired in 2020 by Tier Mobility. SOSV numbers include money raised up until acquisition and valuation at acquisition.
- Jump was acquired in 2018 by Uber. SOSV numbers include money raised up until acquisition and valuation at acquisition.
- Companies without funding amounts are “undisclosed.” Cell left blank to allow for sorting.