Climate change technology has emerged as a safe haven for investors amid a sluggish global economy that has faced a series of unprecedented shocks over the past few years.
Pitchbook forecasts that the climate technology market will grow at a compound annual growth rate of 8.8% over the next few years, reaching nearly $1.4 trillion within the next five years. This creates a favorable headwind for climate tech entrepreneurs in the right place, at the right time, who are bringing solutions to today’s biggest challenge: climate change. A sweeping green industrial revolution will transform nearly every sector of industry and society. It’s hard to underestimate the opportunities this represents. Today’s high-value, fast-growing climate-related tech startups will emerge as the winners of this decade of business.
3 Fastest Growing Climate Tech Startups to Watch in 2023
ProducePay is a fintech and digital marketplace solution that provides farmers with access to capital and directly connects agricultural producers with final purchasers.
ProducePay also helps producers find end-buyers in the market and takes on the producer’s agricultural and trade risks, including weather and logistics.
Within eight years of its launch, ProducePay has helped 700 farms (approximately $4 billion worth of agricultural commodities) access capital and get the best return on their goods.
ProducePay has tripled its market share within the last 18 months. This is due to its ability to successfully replicate models across countries and continents.
“We are very pleased that our model is resonating with other regions around the world. The agricultural industry is largely globalized and today many agricultural products are grown in emerging countries. Therefore, being able to replicate the model in different geographies is essential for business success and network effects,” says ProducePay founder Pablo Schwarzbeck.
“We are very excited to continue this until we can bring about a new reality that is widely accessible to the global farming community. The expansion is primarily focused on Europe,” explains Schwarzbeck.
From planting 153 million trees to growing revenue by 20% year over year, Ecosia, the world’s largest non-profit search engine, continues to thrive, grow and serve.
Ecosia has not only planted an incredible 153 million trees, it has transformed entire communities and brought degraded land back to life. This demonstrates how the cumulative force of small actions taken by collectives can, over time, create far-reaching, positive global change.
“We are planting more trees than ever before, but we want to plant them sooner!” says Ecosia founder Christian Kroll. “We hope more people can use us to plant more trees. If everyone used us instead of Google, we would plant about 300 billion trees every year.” We calculated that we could do it and we could reach that trillion soon.It’s not impossible, but we need more users to do it.”
Skyfri Technologies has developed technologies that streamline and automate the operation of solar installations, making solar power cheaper and making solar installation investments more sustainable.
Skyfri’s technology was aimed at a real market weak spot, and in just a few months after launch, the company’s growth skyrocketed by 500%. And Skyfri’s solar asset management solution can immediately save 20-30% of the operational head of previously manually managed power plants, so the rapid growth is no surprise. Backed by his climate investors SpeedInvest, Singularity and Link Venture, Skyfri manages approximately 185 sites worldwide and is dramatically accelerating growth through targeted acquisitions.