To coincide with COP27, where increasing the flow of capital into climate innovation will be a major theme, Antler is showcasing the new generation of founders and entrepreneurs leaving corporate careers to create startups in Europe that address climate change. 

In 2022, Antler has already invested in 17 European startups developing tech or products to improve sustainability and address climate change. This is the equivalent to an investment into a climate-related startup every 2.5 weeks throughout the year - making 2022 the first year when Antler has backed climate tech startups more than any other sector. 

This trend reflects the extent to which the world’s best talent is gravitating towards climate tech and sustainable innovation. Amidst the global context of energy shortages, extreme weather conditions and food shortages, many of the founders supported by Antler have swapped highly successful careers in finance, consulting or within tech unicorns to pursue entrepreneurial ambitions that allow them to prioritize addressing climate change. 

Antler’s portfolio companies reflect the breadth and variety of innovations being developed across Europe. These include satellites tracking carbon emissions (AIRMO), air cooling towers to remove CO2 from the atmosphere (NeoCarbon), energy companies producing hydrogen electricity (Hydrologiq & HYMETH) or battery storage (Evyon & Geniess) and hardware startups manufacturing weed-killing robots (Trabotyx) and nautical propulsion systems modeled on dolphins (Dolprop). 

Beyond climate tech companies, Antler is also supporting a wave of retail, fashion and beauty startups that are meeting the urgent consumer demand for carbon neutral products. These include re-usable home cleaning products (Homethings), carbon-neutral beauty and nail products (ARKIVE & Glaize) and sustainable fashion marketplaces (Spun & Sustie).

After this year’s investments, nearly a quarter (23 per cent) of Antler’s European portfolio are climate-related startups. 

This will also be a record year of fundraising for Antler’s climate portfolio companies. Having received an initial investment from Antler, these companies have already raised more than 50% more in follow-on funding in 2022 compared to the entirety of last year. 

The largest funding round by a climate-related portfolio company this year was the EUR 7m Pre A round secured by Evyon, an Oslo-based startup that repurposes used EV batteries to planet friendly energy storage systems. This was followed by Spoor, another Norwegian company that develops AI to detect birds in wind farms. Spoor raised a $2.5m Seed funding round this year.  

Nearly two thirds (65 per cent) of these are based in the Nordics, which is fast emerging as a global hotspot for climate tech innovation. Antler has offices in Stockholm, Oslo and Copenhagen supporting early-stage startups in the local ecosystem. 

Anne Tutar, Partner at Antler, comments, "We are seeing an unprecedented influx of highly skilled entrepreneurs and inventors dedicating themselves to innovations that will make a difference in the fight against climate change. With demand increasing from consumers and business for sustainability, there has never been a better time to become a climate tech founder and create a startup that is directly addressing climate change.”

Michael Wiatr, Partner at Antler, comments, “Antler has already made a record number of investments into climate tech and sustainable startups across Europe this year - reflecting the rise of a new generation of climate tech founders across the continent. Nowhere is this more pronounced than in the Nordics, which are emerging as a global capital for climate innovation.”

Jørgen Erdal, co-founder and CEO of Evyon, the Norwegian battery energy storage startup, comments, "Although the capital markets have been through a proper downturn since the end of 2021, we just closed a €7M fundraising round that we could easily have expanded to more than €10M. Investors acknowledge that the future is circular and renewable, and companies and technologies accelerating the green transition have never been more attractive. Evyon is in the epicentre of this transition with our vision of a fully renewable future for everyone."

These climate tech startups form part of Antler’s global portfolio, which now comprises more than 600 startups operating in 30 different industries. A third of these companies have at least one woman co-founder and Antler founders represent more than 100 nationalities.