Last Sunday, more than 120 world leaders arrived at Sharm el-Sheikh and kicked off COP 27, a multi-national event covering two weeks of international negotiations on climate action.
As COP27 brings a greater focus on ways to address climate change, we've launched an in-depth Urban Techreport exploring the companies and investors that are developing and financing technology for cities to tap into climate transitioning.
Why Urban Tech? Urbanization is accelerating, and fast. By 2050 it is expected that 68% of the global population will live in cities, up from 55% today. Cities consume 3/4 of the world’s final energy and produce ~70% of GHG emissions. In light of these trends, Urban Tech solutions can offer a great support to rethink and renovate our ways of building and living in cities to ultimately reduce emissions on an accelerated timeline.
Key findings:
Urban tech startups have raised $28B in 2022 year to date, already more than in 2020, but projected to fall short of last year by 23%.
Corporate investment in Urban Tech has pulled back almost 50% in 2022, going back to 2019 levels.
19 new unicorns were created this year. There are 109 sustainable urban tech unicorns globally.
Energy efficiency (heating, cooling and building management) and sustainable construction (modular construction, concrete, steel and other materials startups) are all underfunded.
For more on the Urban Tech space, access the full report below. 👇
"Impact startups will stay small and not create a significant number of jobs,” “Impact is a nice-to-have, but not a growth driver,” and other myths are debunked in this report on the State of Nordic Impact Startups, published in cooperation with Danske Growth.
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