Almost half (47%) of climate tech leaders said they could not raise enough funding in the last 12 months, according to a survey conducted by London Tech Week.
Another significant issue facing those in climate tech (29%) was struggling to find suitable talent. The survey of 900 climate tech leaders follows an overall decline in UK tech investment as rising interest rates kicked in and inflation soared.
However, there were positives for climate tech, according to Tessa Clarke, co-founder of circular economy app OLIO, said: “2023 has been a watershed moment for climate tech, because for the first time, investment in climate tech has exceeded investment in fintech.”
“However, this has taken place against the backdrop of an enormous decline in overall VC investment, meaning that far too many climate tech founders are still struggling to access the capital they need.”...