Several venture capital (VC) firms are consciously funding startups that tackle climate change issues and design solutions for a clean and sustainable world. Read about them here.
FFirst, Climake is not a venture capital firm. This is a young organization that provides a growth platform for climate tech startups to access markets and access equity and non-dilutive capital.
Shravan Shankar, who has a deep interest in sustainability and related technology and entrepreneurship, and Simmi Sareen, director of impact investment firm Unitus Capital, founded Climake amid the Covid pandemic.
Shankar started working in sustainability right out of college over 12 years ago. A key motivating factor was the “transformational change needed to move the needle towards climate action, net zero and a more sustainable world was only going to come from the adoption of more recent radical innovations,” he says. Sareen brings deep experience in helping impact-focused companies raise capital, through her work as a Principal at Unitus Capital.
Since its inception, Climake has helped around 50 startups focused on climate technology and sustainability secure $30 million in debt financing and over $30 million in equity investment. He has also helped 15 B2B climate tech startups find long-term customers and provided venture capital advice to over 100 startups.
The duo are helping financiers with their report on the state of climate finance in India, which is in its second edition this year. “We know that climate change is the biggest crisis of our time. What we want to establish is that climate finance is also the greatest opportunity of our time,” says Sareen.
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(This story appears in the June 03, 2022 issue of Forbes India. To visit our archive, click here.)