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Climate tech startups report flood of customers, but funding is trickling in

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Megan Cheah

Megan Cheah

Published Fri, Jun 10, 2022 · 01:57 PM
    • A 2021 PwC report noted that climate tech investments in the first half of last year reached record investment levels in excess of US$60 billion, from US$28.4 billion invested in 2020.
    • A 2021 PwC report noted that climate tech investments in the first half of last year reached record investment levels in excess of US$60 billion, from US$28.4 billion invested in 2020. PHOTO: PIXABAY/HERMANN

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    THE pandemic years were “really quiet” for Green Koncepts, a startup whose digital platform measures energy efficiency in buildings. But since Covid-related restrictions were lifted this year, chief executive Kenneth Lee said enquiries have been coming in at a rate of 5 times what he had experienced in 2020.

    “The balance has shifted a bit, and people are more willing to spend some money to be a part of the sustainability initiative,” said Lee, who started Green Koncepts in 2011 with funding from the National Research Foundation.

    Terrascope, the climate-focused venture arm of commodities trader Olam Group, has seen similar strength in demand.

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