Sustainable Innovations and Startups in the MENA Region

The number of climate tech unicorns today is somewhere north of 78; with mobility and transport startups represent the largest number (43) of climate tech unicorns, and happen to be the segment of climate tech startups that are also the most well-funded.

Total Number of Climate Tech Unicorns in the World, by Sector

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Climate tech (a sub-set of cleantech), refers to technologies used to address climate change by reducing greenhouse gas emissions (GHGs). According to PwC&rsquo;s State of climate tech 2021, over 3,000 climate tech startups have been identified, with US $87.5 billion&nbsp;invested over H2 2020 and (over a 12-month period). The average deal size has almost quadrupled to US$96million in H1 2021 up from US$27 million a year before.

Most Dominant Geographies in Climate Tech Funding, H1 2020 - H2 2021

Most Dominant Geographies in Climate Tech Funding in 2021

Climate tech is a sub-segment of cleantech, in that it focuses on technology specifically working to reduce GHG emissions. There seems to have been a shift from a &lsquo;nice-to-have&rsquo; to a &lsquo;must-do&rsquo; attitude in the past decade by both the general population and the investor population. The growing awareness has also mushroomed new firms and therefore attracted VC interest. As per PwC&rsquo;s State of Climate Tech 2022, over US $260 billion in VC money has been injected into climate tech companies since the start of 2018; and in 2022, more than a quarter of total global VC funding is going towards climate technology, thus far.

Total Number of Climate Tech Unicorns in the World, by Sector

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