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Climate tech investment roars back with an $8.1B start to 2024
Companies focused on reducing CO2 emissions raised big sums, second only to Q3 2023.
Continuing the materials theme, battery manufacturer Natron raised a $189 million Series B round to begin construction on a commercial scale factory in western Michigan. Today, it would be easy to dismiss massive deals like H2 Green Steel’s as an outlier, but that would also ignore the fact that many climate tech companies, which often sell physical goods instead of software, need large sums if they’re to successfully reach commercial scale. Investors have been meeting founders at the starting blocks, but as early stage companies begin to think about scaling, they frequently encounter a challenging fundraising environment, something that’s become known as the “ valley of death.”
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