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€300M Boost for Climate Tech Innovation in Europe

Green PRAXIS, a dynamic startup dedicated to empowering operators and infrastructure owners
March 25, 2024

In a significant move towards combating climate change, Berlin-based World Fund has pledged a staggering €300 million to support climate tech founders over the coming years. This bold commitment not only marks a milestone in European climate investing but also signifies a growing confidence in the resilience of the sector amidst global uncertainties.

The battle against climate change receives a substantial boost as World Fund steps forward with a monumental commitment of €300 million to nurture climate tech innovation across Europe. This groundbreaking initiative is set to redefine the landscape of climate-dedicated funds on the continent, signaling a collective stride towards a more sustainable future.

World Fund's ambitious investment strategy entails making 25-30 strategic investments in European startups dedicated to developing technologies with the potential to revolutionize entire industries by reducing carbon footprints. Among the notable recipients of previous funding are ENOUGH Food, pioneers in fermenting fungi for meat substitutes, Space Forge, focusing on in-space production of computer chips, and Customcells, known for their silicon-based batteries.

A crucial aspect of World Fund's mission is to address the notorious "Series B Valley of Death" prevalent in the energy sector. This stage, identified as a critical hurdle by a recent report from the Startup Coalition, often poses significant challenges for startups transitioning from proof of concept to commercial market entry.

Despite being a nascent sector, climate tech holds immense promise. However, the lack of established commercial and regulatory norms often leaves startups stranded in a funding gap. World Fund aims to bridge this divide by taking a proactive approach, leading financing rounds and earmarking capital for subsequent investments, thereby providing crucial support for startups navigating uncharted territories.

World Fund's endeavors have garnered substantial support from a diverse array of backers, including EIF, KfW Capital, BPI France, and PwC Germany, among others. Noteworthy among these supporters is Ecosia, an independent search engine, which stands as the fund's first investor.

World Fund's monumental commitment of €300 million underscores its unwavering dedication to fostering innovation in the climate tech sector. As Danijel Višević, Managing Partner at World Fund, aptly puts it, "Our planet is at a pivotal juncture, and we could not be prouder to spend every day working towards creating a regenerative world." With its doors open to visionary founders, World Fund is poised to catalyze transformative change, one investment at a time.

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