In the first quarter of 2024, climate tech startups secured $8.1 billion, suggesting a potential rebound after the quiet end of 2023, a new report suggests. While the total number of deals was down by 20% quarter-over-quarter, the raised amount surged nearly 400%, according to report. Noteworthy investments included Swedish startup H2 Green Steel‘s $4.5 billion debt raise for a new steel plant, highlighting significant interest in green materials.

Despite a lower deal count, early-stage startups like Natron, Ascend Elements, and Lilac Solutions drew substantial investments for innovative materials and battery technologies. With growing investor preference for established companies, these investments reflect the increasing need for funding to scale climate tech initiatives. The current trend is expected to continue as the sector works to attract larger investments and develop strategies for long-term success.  — TechCrunch