Industry Briefing · UK Climate Tech
UK Climate Technology & Clean Energy
UK climate tech encompasses startups building the hardware and systems needed to decarbonise the economy, from clean energy and battery storage to carbon capture and sustainable agriculture. With net zero commitments driving both public and private investment, the sector spans clean energy generation, grid infrastructure, hydrogen technologies, precision agritech, and sustainable materials.
UK Climate Tech · 6 companies
Companies
Featured
Nyobolt
Nyobolt was established in 2019 to commercialise breakthrough battery research from the University of Cambridge's Department of Chemistry. Co-founded by Professor Dame Clare Grey, a Royal Society Fellow with decades of battery research expertise, and CEO Dr Sai Shivareddy, who holds a Cambridge PhD and previously collaborated with Dyson on energy storage. The company's core innovation uses niobium tungsten oxide as an anode material, enabling rapid ion mobility that multiplies charging speeds compared to conventional graphite anodes. In June 2024, Nyobolt made history as the first company to demonstrate five-minute EV charging, going from 10% to 80% in four minutes and 37 seconds. The company closed 2024 with $9M in revenue and over $150M in signed customer contracts spanning AI data centres, autonomous robotics, and electric vehicles. Nyobolt has raised $100M to date across multiple rounds.
Molyon
Cambridge
Molyon is a University of Cambridge spinout from the Department of Materials Science and Metallurgy developing next-generation lithium-sulphur batteries with double the energy density of conventional lithium-ion cells. The company emerged from 15 years of research by Professor Manish Chhowalla, focusing on metallic molybdenum disulfide as a breakthrough cathode technology. Founded in February 2024 by Dr Ismail Sami (CEO) and Dr Zhuangnan Li (CTO), who met while studying under Chhowalla, the startup has demonstrated batteries achieving energy densities of 500 Wh/kg compared to approximately 250 Wh/kg for typical Li-ion cells. In November 2024, Molyon secured €4.3M in seed funding co-led by IQ Capital and Plural, with participation from Cambridge Enterprise and ParkWalk, targeting initial applications in drones and robotics.
IONATE
London
IONATE was founded in 2019 by Matthew Williams, Robert Ricci, and Luca Mezossy-Dona to modernise century-old power infrastructure through intelligent hardware and software. Williams brings 15 years of experience as an electrical and control engineer, having previously founded The Faraday Grid. The company's flagship product is the Hybrid Intelligent Transformer (HIT), a solid-state transformer providing precision power flow control up to 36 kV, paired with the Aurora Neuralis distributed control software for system-level optimisation. IONATE was named a front-runner in hybrid transformers by Cleantech Group's 2026 Global Cleantech 100 and featured in the IEA's 2026 State of Energy Innovation Report. The company closed a £3.3M seed round in 2022 led by IQ Capital, followed by a $17M Series A in February 2025 led by AlbionVC with participation from IQT and strategic investors.
Seabound
London
Seabound was founded in late 2021 by Alisha Fredriksson and Roujia Wen, who met while studying at Minerva University. Fredriksson, a Swedish-Canadian climate entrepreneur, previously built Liquid Wind, a maritime e-fuel startup. Wen, a Chinese engineer with expertise in mathematics and theoretical physics from Cambridge, leads technology and systems development. The company developed a compact, retrofittable system that captures CO2 from ship exhaust and converts it into solid carbonate pellets for offloading at ports. Seabound completed its first full-scale maritime carbon capture units in February 2026 and has won the UK Government's Clean Maritime Demonstration Competition twice. The company secured a €1.5M European Space Agency award and has raised $6.8M in seed funding from YCombinator, Lowercarbon Capital, EMLES Venture Partners, and strategic investors Eastern Pacific Shipping and Lomar.
Proxima Fusion
Munich
Proxima Fusion was founded in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics, bringing together scientists and engineers from IPP, MIT, and X Development. Co-founded by Dr Francesco Sciortino (CEO, PhD in plasma physics from MIT) and Dr Lucio Milanese (COO, PhD in theoretical plasma physics from MIT, formerly McKinsey), the company is developing quasi-isodynamic stellarators combined with high-temperature superconducting magnets to build the world's first commercial stellarator fusion power plant. Proxima has partnered with RWE and the Free State of Bavaria on a planned €2B facility near Munich. The company has raised €200M to date, including a Series A led by Cherry Ventures and Balderton Capital with participation from Lightspeed Venture Partners, Plural, and others. Proxima maintains a UK presence at the Culham Campus and a London-registered entity.
Isometric
London
Isometric was founded in 2022 by Eamon Jubbawy, who previously co-founded Onfido where he served as COO and President, scaling the company to verify over one billion identities before its $650M acquisition by Entrust. Jubbawy studied Economics and Management at Keble College, Oxford. Isometric addresses trust in the carbon removal market through an AI-native science platform that issues monthly certificates with real-time expert verification, maintains a comprehensive registry with full evidence documentation, and operationalises verification protocols. The company serves major enterprises including Google, Microsoft, Shopify, Anglo American, and Molten, and maintains a network of over 400 scientists and ecosystem partners. Isometric raised $25M in seed funding co-led by Plural and Lowercarbon Capital, with participation from angel investors including Niklas Zennstrom (Skype), David Helgason (Unity), and Ilkka Paananen (Supercell).
Backing Climate Tech · 69 investors
Investors
IQ Capital
Founded in 2005, IQ Capital is a leading European deep tech venture capital firm based in Cambridge and London. Its general partners, Kerry Baldwin, Max Bautin, Simon Hirtzel, and Ed Stacey, have worked together for over 20 years. The firm leads rounds from pre-Seed to Series A and follows on via dedicated growth funds with up to £30m per company. Since inception it has partnered with over 200 deep tech founders, attracting $1.4 billion in follow-on capital to its portfolio. Notable investments include Thought Machine (core banking unicorn backed from Seed), Speechmatics, and Nyobolt, with exits to Apple, Meta, Google, Siemens, Qualcomm, and Oracle.
ParkWalk
Founded in 2009 and now part of IP Group plc (FTSE 250), Parkwalk is the UK's most active investor in university spinout companies. The firm connects investors with high growth, IP rich startups through EIS and VCT fund structures, partnering closely with the tech transfer offices of Cambridge, Oxford, Imperial College, and Bristol. To date it has invested £483m across 200+ companies, achieving 39 exits (up to 16x) and returning £166m to investors. Notable co-investors include Amadeus Capital, Cambridge Innovation Capital, and Schroders. The team won Growth Investor of the Year 2024 and Best EIS Investment Manager in 2022 and 2023.
UKRI
Established in 2018, UKRI is the UK's largest public funder of research and innovation, bringing together seven research councils, Innovate UK, and Research England. Through Innovate UK it has awarded over £9.8 billion in grants to approximately 7,000 companies since 2011, targeting an average leverage ratio of at least £3 of private investment for every £1 of public funding. Its £320 million Technology Missions Fund supports AI, quantum, engineering biology, and future telecoms. UKRI invests roughly £8 billion per year and recently outlined a record £38.6 billion four year settlement scaling to nearly £10 billion annually by 2029/30.
Techstars
Founded in 2006 by David Brown, David Cohen, Brad Feld, and Jared Polis, Techstars is one of the world's largest startup accelerators. It invests $220,000 per company ($20,000 for 5% common stock plus a $200,000 uncapped MFN safe) through a three month mentorship driven programme. With a portfolio of over 4,700 companies across 16 unicorns, alumni have collectively raised over $30 billion and hold a combined valuation exceeding $120 billion. Notable alumni include Sendgrid (acquired by Twilio), ClassPass, Remitly, and Chainalysis. Around 75% of companies receive follow on funding or become profitable post programme.
Ahren
Founded in 2018 by Alice Newcombe-Ellis alongside co-founding Science Partners, Ahren is a deep tech and deep science investment firm based in London, Cambridge, and Boston. The firm operates a distinctive model pairing commercially active long term capital with world leading scientists, including Nobel laureates Venki Ramakrishnan and Gregory Winter, and Turing Award winner Shankar Balasubramanian. Ahren invests from pre-seed to pre-IPO, partnering with founders building transformational companies that penetrate or create massive markets. Notable portfolio companies include Graphcore, AI21 Labs, ZOE, Phaidra, Heirloom Carbon, and Bicycle Therapeutics.
Science Creates
Founded in 2015 by Harry Destecroix MBE following his $800m exit of University of Bristol spinout Ziylo, Science Creates is a deep tech ecosystem comprising incubators and a VC fund. Its three Bristol incubators (Unit DX, Unit DY, and OMX opening 2026) span 75,000 sq ft supporting over 125 startups and 370 jobs. The VC arm SCVC invests at pre-seed and seed ($500K to $3m) with Series A follow on up to $7m. Fund 1 ($17m) backed 12 companies; Fund 2 targets $100m. Portfolio companies include Delta g (quantum sensors), VyperCore (RISC-V), Scarlet Therapeutics, and Isomab. The network has contributed £125m GVA annually to the UK economy.
Eclipse
Founded in 2015 by Lior Susan, Eclipse is a venture capital firm focused on transforming essential physical industries through technology. The firm operates a distinctive 'Venture Equity' model, co-founding new companies with senior operators from organisations like Tesla, Amazon Robotics, and Northvolt. Eclipse invests from pre-seed to Series D and backs companies integrating hardware, software, and data across industries representing 75% of global GDP. Notable portfolio companies include VulcanForms, Bright Machines, Augury, Enovix, and Cellares. The firm also partnered with Mayo Clinic to create Nucleus RadioPharma.
Concept Ventures
Founded in 2018 by Reece Chowdhry (originally as RLC Ventures), Concept Ventures is Europe's largest dedicated pre-seed fund. The firm invests up to $1.5m in first rounds, leading over 90% of deals, and is proudly sector agnostic. Fund I is a top 1% performing fund for its vintage globally, with 100% of portfolio companies that went to market successfully closing their next round. Portfolio companies have collectively raised over $450m in follow on funding. The standout investment is ElevenLabs (voice AI unicorn valued at $6.6B), backed at pre-seed and now representing a 400x return. Other notable investments include VSim, Arondite, and Anam.
Plural
Founded in 2022 by Wise co-founder Taavet Hinrikus, Songkick co-founder Ian Hogarth, Bigpoint CEO Khaled Helioui, and Teleport co-founder Sten Tamkivi, Plural is a founder led early stage venture fund for Europe. The founding team collectively built Skype, Wise, Songkick, and Teleport, bringing deep operator experience to a market where only 8% of European investors are former founders. Plural leads rounds of €1m to €10m and has invested in 48 companies across six countries. Notable portfolio companies include Robin AI, Isometric, Proxima Fusion, and Phasecraft. Its largest investment themes are AI (31%), frontier tech (16%), and climate and energy (14%).
Prima Materia
Founded in 2021 by Spotify CEO Daniel Ek and early Spotify investor Shakil Khan, Prima Materia is a private investment vehicle backed by Ek's personal pledge of €1B over a decade into European technology companies. Described as a '100 year project', the firm takes a builder and active owner approach to a small number of long term bets. Prima Materia led the €600M Series D for defence AI company Helsing (valued at $12B) and is an original backer of Neko Health (co-founded by Ek). Other investments include Northvolt, H2 Green Steel, and Pale Blue Dot. The firm focuses on foundational technologies with lasting societal impact.
General Catalyst
Founded in 2000 by Joel Cutler and David Fialkow, General Catalyst is a global venture capital firm investing from seed to growth stage. Named the most active VC investor between 2020 and 2023 by PitchBook, the firm has backed 871 companies producing 90 unicorns, 29 IPOs, and 203 acquisitions. In 2024 GC closed $8B in new capital including $6B for Fund XII, with 25% allocated to Europe. The firm has expanded globally through mergers with La Famiglia (Europe) and Venture Highway (India), and uniquely acquired Summa Health for $485M as a proving ground for its healthtech portfolio. Notable investments include Stripe, Airbnb, HubSpot, Snap, Anduril, Helsing, Mistral, and Canva.
Valor Equity Partners
Founded in 1995 by Antonio Gracias, Valor Equity Partners is a Chicago based growth focused private equity firm renowned for its deep operational involvement with portfolio companies through its 29 person Scale Group. Valor was an early and long standing backer of both Tesla and SpaceX, and its portfolio of 301 companies includes Anduril, Neuralink, Reddit, xAI, Zipline, and WEKA. Fund VI closed at $2.35B (oversubscribed beyond the $2B target), with an additional $1B in co-investment commitments. The firm also manages Valor Siren Ventures in partnership with Starbucks, Nestlé, Target, and Marriott for food, retail, and sustainability investments.
Marathon Venture Capital
Founded in 2017 in Athens, Marathon Venture Capital is a seed stage fund backing ambitious Greek and European founders building world class technology companies. The firm typically leads seed rounds with €1m+ cheques for 15–20% equity, with about half of investments originating internationally from across Europe and the US. Fund I is described as a top percentile performer globally in realised returns. Portfolio companies have attracted follow on capital from Bessemer, Bain, 83North, Insight, and Index. Notable investments include Causaly (AI for biomedical research), Hack The Box (cybersecurity training), Augmenta (agritech), and Lenses.io (exited). LPs include the EIF, EBRD, and HDBI.
HCVC
Founded in 2018 by Alexis Houssou, Jerry Yang, and Aymerik Renard, HCVC (formerly Hardware Club) is an early stage venture capital firm investing in companies automating and digitising the physical world. The firm operates a dual model: a VC fund alongside a selective global community of 600+ hardtech startups (sub-7% acceptance rate) offering shared manufacturing, distribution, and supply chain resources through 200 partners including Foxconn and Amazon Launchpad. Fund I ($50M) backed 50 companies; Fund II ($75M, 2023) targets 40 investments. Notable LPs include John Elkann (Stellantis/Ferrari), Toto Wolff (Mercedes F1), and Albert Wenger (USV). Portfolio companies include Cowboy, Renaissance Fusion, Automata, and Span.
Uber
Founded in 2009 by Travis Kalanick and Garrett Camp, Uber is a $150B+ multinational technology company operating mobility, food delivery (Uber Eats), and freight platforms with $52B annual revenue (2025) and 33,600 employees. Uber has made 31+ corporate venture investments primarily aligned with its core business, focusing on autonomous vehicles, electric mobility, and logistics technology. It holds $18.5B in long term strategic investments. Notable bets include a $100M investment in WeRide (robotaxis), plus stakes in Joby Aviation (electric aircraft), Serve Robotics (autonomous delivery), Waabi (self-driving AI), Lucid Motors, and Nuro. Uber has also acquired 23 companies to expand its platform capabilities.
NATO Innovation Fund
The NATO Innovation Fund (NIF) is a EUR 1 billion venture capital fund backed by 24 NATO allied nations, established to invest in deep tech startups that strengthen defence, security, and resilience across the alliance. It targets early-stage companies working on breakthrough science and engineering, leading rounds of up to EUR 15 million with significant follow-on reserves. Notable portfolio companies include ARX Robotics (autonomous defence robotics), Fractile (AI computing hardware), and Space Forge (in-space semiconductor manufacturing).
Oxford Science Enterprises
Founded in 2015, Oxford Science Enterprises (OSE) is an independent investment company created to found, fund, and build transformational businesses through its unique partnership with the University of Oxford. The firm invests across life sciences, health tech, and deep tech, writing cheques from £50,000 to £25m and following on to exit. OSE holds a portfolio of around 40 companies and has backed notable spinouts including Vaccitech, OMass, and Caristo Diagnostics, with exits to Waymo and AbbVie.
LocalGlobe
LocalGlobe is a London-based seed and pre-seed venture capital firm founded in 2015 by father-and-son duo Robin Klein and Saul Klein. Operating under the Phoenix Court Group umbrella, the firm takes a "cradle-to-IPO" approach, backing founders at the earliest stages and supporting them through growth via sister funds Latitude and Solar. LocalGlobe has invested in over 300 companies, producing 17 unicorns. Notable portfolio companies include Wise, Monzo, and Citymapper.
Entrepreneurs First
Entrepreneurs First is a talent investor that backs exceptional individuals before they have a team or an idea. Founded in London in 2011 by Matt Clifford and Alice Bentinck, EF runs a 12-week programme where participants find co-founders, develop ideas and build companies from scratch. It then invests up to $250k at pre-seed stage. EF operates across London, Paris, Bangalore, New York and San Francisco. Its portfolio, spanning deep tech to consumer, includes over 1,000 companies now collectively valued at more than $16 billion.
Phoenix Court
Phoenix Court Group is a London-based venture capital firm formed in 2022 through the rebranding of LocalGlobe and Latitude. Founded by Saul and Robin Klein, the firm invests across the full startup lifecycle through four funds: LocalGlobe (pre-seed/seed), Latitude (early growth), Solar (scale-up to IPO), and Basecamp (emerging managers). Phoenix Court has backed over 500 companies, including 14 unicorns, and was ranked the top seed-stage venture investor in EMEA by Dealroom in 2025.
HV Capital
HV Capital, formerly Holtzbrinck Ventures, is a Munich-based venture capital firm founded in 2000 that has grown into one of Europe's most established tech investors with EUR 2.8B in assets under management. The firm backs European startups from seed through growth stage, deploying between EUR 0.5M and EUR 60M per round across sectors including enterprise software, fintech, climate tech, and deep tech. Notable portfolio companies include Zalando, Delivery Hero, FlixBus, and Isar Aerospace.
Speedinvest
Speedinvest is a European early-stage venture capital firm founded in 2011 and headquartered in Vienna, with offices across Europe and in New York. The firm invests at pre-seed and seed stages, backing founders building technology companies across sectors including climate tech, industrial tech, fintech, and health tech. Speedinvest manages over EUR 500 million and has backed more than 300 companies. Notable portfolio companies include GoStudent, Bitpanda, and Yokoy. The firm operates dedicated sector-focused teams to provide specialised support to its portfolio.
Omnes Capital
Founded in 1999, Omnes Capital is a Paris-based European private equity firm managing over EUR 6.7 billion in assets across four business lines: renewable energy, resilient cities, deeptech venture capital, and co-investment. The firm's deeptech strategy focuses on energy transition, sovereignty, and applied AI, backing B2B startups from early growth through scale-up. Notable portfolio companies include Novaled (acquired by Samsung), arGEN-X (IPO on Euronext/Nasdaq), and Scality. Omnes is a signatory of the UN Principles for Responsible Investment.
Founderful
Founderful is Switzerland's leading pre-seed and seed-stage venture capital firm, formerly known as Wingman Ventures. Founded in 2019, the firm backs Swiss tech entrepreneurs building companies in B2B software and deep industrial sectors. Founderful typically invests $1M at pre-seed and up to $2M at seed stage. The firm has supported over 50 startups and 120 founders, including Wingtra, DePoly, Ethon AI and Oxyle, helping them scale into global market leaders.
Horizons Ventures
Horizons Ventures is the private investment arm of Li Ka-shing, founded in 2002 by Solina Chau and headquartered in Hong Kong. The firm invests globally in early-stage deep science and technology companies whose innovations can address humanity's greatest challenges. Its portfolio of over 200 companies includes early bets on DeepMind, Siri, Skype, Zoom, Spotify, and Impossible Foods. The team of 20+ professionals operates across 15+ countries, focusing on AI, biotechnology, clean energy, and healthcare technology.
Applied Ventures
Applied Ventures is the corporate venture capital arm of Applied Materials, the world's largest supplier of semiconductor manufacturing equipment. Founded in 2006 and headquartered in Santa Clara, California, the firm invests globally across the "Materials to Systems" technology stack, targeting startups in advanced materials, semiconductors, energy storage, AI and quantum computing. With a portfolio spanning over 90 companies in 18 countries, notable investments include Qolab (quantum computing) and Transphorm (GaN power semiconductors). Applied Ventures connects portfolio companies with Applied Materials' global customer and supply chain network.
Venture Kick
Venture Kick is a Swiss philanthropic funding programme that supports early-stage startups emerging from universities through a structured three-stage model. Selected founders pitch to expert juries to win up to CHF 150,000 in seed funding, alongside mentorship and access to a network of over 200 entrepreneurs and investors. Since launching in 2007, Venture Kick has backed over 1,200 startup projects, creating more than 16,000 jobs. Stage 3 winners can access additional equity funding of up to CHF 850,000 through Kickfund.
Elon Musk
Elon Musk is an active angel investor and backer of technology ventures beyond his operating companies. His notable investments include DeepMind (prior to its acquisition by Google), Stripe in its early funding rounds, and The Boring Company, which he also co-founded. He provided early backing to OpenAI as a founding donor before departing its board. Musk has also invested in Neuralink and xAI. His investment activity tends to focus on artificial intelligence, infrastructure and frontier technology sectors.
Atomico
Founded in 2006 by Niklas Zennstrom, co-founder of Skype, Atomico is a London-based venture capital firm focused on partnering with ambitious European technology founders from Series A through to IPO. The firm invests across enterprise software, AI, fintech, climate tech, industrial automation, and frontier technology. With $5 billion in assets under management, Atomico has backed over 200 companies and produced 24 unicorns. Notable portfolio companies include Klarna, Supercell, and Hinge Health.
Balderton Capital
Balderton Capital is a London-based venture capital firm founded in 2000, investing exclusively in European startups from seed through Series B. The firm backs ambitious founders building category-defining technology companies, with a focus on software, AI, fintech, and deep tech. Balderton has raised over $5 billion across its funds and has backed notable companies including Revolut, Citymapper, and GoCardless. The firm is one of Europe's largest and most established early-stage venture investors.
Bosch
Robert Bosch Venture Capital (RBVC), founded in 2007, is the corporate venture capital arm of the Bosch Group, one of the world's largest private companies with over EUR 70 billion in annual sales. RBVC invests globally in seed through growth-stage startups developing technologies aligned with Bosch's strategic interests, including AI, autonomous systems, energy efficiency, and quantum computing. With over 60 active portfolio companies, notable investments include quantum computing leader IonQ, AI cooling specialist JETCOOL Technologies, and battery recycler Cylib.
Cambridge Agritech
Cambridge Agritech is a Cambridge-based venture capital syndicate that invests in innovative SMEs in the agricultural technology sector across Europe and the US. Founded in 2015, the syndicate comprises private investors who are owners or directors of major UK food and agricultural businesses. The firm focuses on seed-stage investments, backing companies in areas such as precision agriculture, sustainability tech, and food systems innovation. Its portfolio includes 15 companies, with a notable exit through the acquisition of Hummingbird Technologies.
Cherry Ventures
Cherry Ventures is a European early-stage venture capital firm founded in 2012 by Filip Dames and Christian Meermann, headquartered in Berlin with offices in London and Stockholm. The firm invests at pre-seed and seed stages in European startups across software, fintech, climate tech and deep tech, backing founders with operational experience from its team of former operators at companies like Zalando and Spotify. Cherry's portfolio of over 150 companies includes notable exits such as FlixBus, Auto1 Group and deep tech bets like Proxima Fusion.
Hostplus
Hostplus is one of Australia's largest industry superannuation funds, managing over $115 billion in assets for more than two million members. Originally established for the hospitality, tourism and recreation sectors, it has become a significant investor in venture capital and deep tech. Through its partnership with IP Group Australia, Hostplus backs early-stage companies in clean energy, decarbonisation, healthcare and quantum computing. Its notable portfolio includes investments in Canva, Hysata and Oxford Nanopore Technologies.
IP Group
IP Group plc is a London-listed intellectual property commercialisation company that partners with leading universities and research institutions to transform scientific breakthroughs into high-growth businesses. Founded in 2001, it focuses on early-stage science-based ventures across deeptech, life sciences and cleantech, also operating Parkwalk, the UK's largest growth EIS fund manager. Notable portfolio companies include Oxford Nanopore Technologies, First Light Fusion and Featurespace (acquired by Visa in 2024).
Innovate UK
Innovate UK is the United Kingdom's national innovation agency, operating as part of UK Research and Innovation (UKRI). Established originally as the Technology Strategy Board, it provides grants, loans, expert support and industry connections to help businesses develop and commercialise new technologies. Its flagship programmes include the Biomedical Catalyst, the Growth Catalyst scheme and Bridge AI. Innovate UK has backed companies across quantum computing, clean energy and advanced manufacturing, and is recognised as a key funder behind the UK's position as Europe's leading deep tech hub.
Low Carbon Innovation Fund
Low Carbon Innovation Fund (LCIF) is a UK venture capital fund managed by Turquoise International, a London-based merchant bank specialising in energy, environment and efficiency. Launched in 2010 and expanded with LCIF 2 in 2020, the fund co-invests alongside private sector partners in early-stage SMEs developing technologies that deliver measurable greenhouse gas reductions. Backed by the European Regional Development Fund, LCIF focuses on the East of England and has made over 69 investments across 53 companies, including Adaptavate, GridDuck and Jiva Materials.
NATO DIANA
NATO DIANA is the Alliance's deep tech accelerator, established in 2022 to connect startups and researchers with defence end-users across 32 Allied nations. It runs competitive challenge programmes, providing non-dilutive grant funding and access to a network of 16 accelerator sites and over 200 test centres. Its 2026 cohort of 150 companies is its largest to date, tackling challenges from contested communications to maritime operations. Selected innovators can also access the linked EUR 1 billion NATO Innovation Fund for follow-on venture investment.
SmartCap
SmartCap is an Estonian state-owned venture capital fund manager, established in 2011 as a subsidiary of the Estonian Business and Innovation Agency. It operates under a licence from the Estonian Financial Supervision Authority, managing over 400 million euros across three funds: a Venture Capital Fund, a Green Fund, and a Defence Fund. SmartCap provides cornerstone investments to private VC fund managers and makes direct investments in early-stage companies, with a mission to develop Estonia's venture capital market and help innovative companies scale globally.
Superangel
Superangel is an Estonian early-stage venture capital firm founded in 2017 by Veljo Otsason and Rain Rannu. Based in Tallinn, the firm invests pre-seed and seed capital in deep tech startups across the Baltics and Nordics. Its second fund targets EUR 50M and focuses on companies with meaningful engineering or scientific innovation. Superangel operates as both an investor and company builder, and its team's track record includes early backing of unicorns such as Bolt, Veriff and Pipedrive.
Turquoise
Turquoise International is a London-based merchant bank founded in 2002, specialising in climate technology investment and advisory across energy, environment and efficiency. The firm provides capital raising, M&A advisory and investment management services, and has executed over 85 transactions across sectors including energy, mobility and sustainable healthcare. Turquoise manages the Low Carbon Innovation Funds (LCIF), investing in companies delivering measurable greenhouse gas reductions through new technologies and business models. In 2024, the firm partnered with Redwheel to launch a UK ClimateTech growth capital fund.
UVC Partners
UVC Partners is a Munich- and Berlin-based early-stage venture capital firm founded in 2011 as the investment arm of UnternehmerTUM, Europe's leading entrepreneurship centre at the Technical University of Munich. The firm invests between EUR 1M and EUR 30M per company across deep tech, climate tech, enterprise software, and mobility. Its portfolio includes notable companies such as Flix (FlixBus), Isar Aerospace, and Proxima Fusion. UVC Partners closed its fourth and largest fund at EUR 250M in 2024, bringing total assets under management to over EUR 600M.
ACT Venture Partners
ACT Venture Partners is a European early-stage venture capital firm that invests in deep tech startups at the pre-seed and seed stages. The firm writes initial cheques between EUR 500K and EUR 1.5M, typically serving as the first institutional investor. ACT supports portfolio companies with fundraising, hiring, grant access, and strategic partnerships, drawing on a global advisory network. The firm is an approved Innovate UK Investor Partner, reinforcing its commitment to backing transformative technologies across Europe and the UK.
AlbionVC
AlbionVC is a London-based venture capital firm and the technology investment arm of Albion Capital Group LLP, founded in 1996. The firm manages approximately £1 billion across a platform of strategies spanning pre-seed to growth stage, primarily backing early-stage B2B software and healthcare companies in the UK. AlbionVC's portfolio includes over 110 companies, with notable investments in Quantexa (valued at unicorn status in 2023), Oviva, and Bango. The firm was among the earliest backers of Booking.com.
Ameba Capital
Founded in 2011 by Andrew Teoh, Kevin Wang, and Frank Li, Ameba Capital is a Shanghai-based venture capital firm specialising in SaaS, AI, and digital transformation across major industries. The firm primarily targets Series A investments in China-based startups, with a portfolio spanning enterprise applications, new energy, education, and healthcare. Notable early-stage bets include angel investments in Didi, JST, and Leyan. The team draws on deep operational experience, with founders formerly holding senior roles at Alibaba and Kingsoft.
Atlas Ventures
Atlas Ventures is a London-based venture capital fund founded in 2023 by Duran Cesur and Onur Canlitepe. The firm invests at Seed and Late Seed stages in European startups building industrial decarbonisation and digitalisation technologies. Its target sectors include energy, transportation, logistics, manufacturing, and heavy industries such as construction, steel, and maritime. The team combines deep expertise in industrial tech corporate venture capital and investment banking across energy and infrastructure.
BGF
BGF, founded in 2011 as the Business Growth Fund, is one of the UK's most active growth capital investors, backing small and mid-sized businesses across the UK and Ireland. Investing from a balance sheet of GBP 2.5 billion, BGF takes a long-term, non-controlling approach across early-stage, growth-stage, and quoted companies. Its deep tech portfolio includes battery startup Gaussion, metals recycling innovator DEScycle, and autonomous vehicle software developer Oxbotica. To date, BGF has invested over GBP 4 billion in more than 600 companies.
British Patient Capital
British Patient Capital is a subsidiary of the British Business Bank, established in 2018 to support UK companies requiring long-term, patient investment. It commits capital to venture and venture growth funds that back innovative businesses across the country, with a particular emphasis on scaling high-potential companies. Operating primarily as a fund-of-funds and co-investor, it has made commitments to funds managed by firms including Balderton Capital, Amadeus Capital Partners, and IQ Capital, helping bridge the funding gap for UK technology and life sciences companies.
EIFO
EIFO (Denmark's Export and Investment Fund) is a state-owned investment and financing entity formed in 2023 through the merger of Vækstfonden (Danish Growth Fund), EKF (Denmark's Export Credit Agency), and Denmark's Green Investment Fund. It provides loans, guarantees, and equity investments to Danish companies across all growth stages, with a focus on scaling innovative businesses and supporting green transition. Notable investments include Northvolt, Too Good To Go, and Lunar. EIFO manages a portfolio of approximately DKK 100 billion in commitments and guarantees.
East Innovate
Founded in 2021 as East Innovate and now operating as East X Ventures, this London-based venture capital firm is the investment arm of East X, a quantitative systematic research and investment company active in global commodity markets. The firm backs early-stage, science-led companies using technology and AI to transform energy, commodities, and supply chains. It serves as an Innovate UK Investor Partner and manages Starmaker One, Europe's first fusion-focused VC fund, supported by a £20m UK government cornerstone investment targeting £100m to £150m total.
Excellis
Founded in 2021 by Loris Lanzellotti and Alberto Emprin, Excellis is a Turin-based private holding company that invests in deep tech startups founded or co-founded by Italian researchers working at leading European and American universities. The firm co-invests alongside established international venture capital funds at the pre-seed, seed, and Series A stages. Its focus spans embedded technologies, robotics and automation, cleantech, and medtech, with portfolio companies including Annaida Technologies, Mintneuro, Fluorok, and Nagi Bioscience.
Foresight Group
Foresight Group is a London-listed infrastructure and private equity investment manager founded in 1984, managing over £12 billion in assets. The firm focuses on sustainability-driven investments across infrastructure, private equity, and real assets, backing small and mid-cap UK companies with growth potential. Foresight targets sectors including solar energy, waste management, battery storage, and bioenergy. Notable investments include Calisen (smart metering infrastructure), Castleton Technology (software for social housing), and a significant portfolio of UK solar farms totalling over 1 GW of capacity.
Gresham House
Gresham House is a specialist alternative asset manager headquartered in London, now owned by Searchlight Capital Partners following a £470m acquisition completed in February 2024. The firm manages approximately £8.7 billion in assets across forestry, new energy, housing, infrastructure, and strategic equity divisions. Its ventures arm, Gresham House Ventures, is the UK's second largest VCT manager with around £800 million in managed assets across the Baronsmead and Mobeus VCTs. The firm targets £20 billion in AUM by 2030 and invests in innovative UK growth companies across multiple stages.
JGC MIRAI Innovation Fund
JGC MIRAI Innovation Fund is a corporate venture capital fund established in 2021 by JGC Holdings Corporation, one of Japan's leading engineering firms, and co-managed by Global Brain. The fund invests in startups in Japan and overseas that possess innovative technologies and business models related to carbon neutrality, sustainable infrastructure, smart industries, and enhanced quality of life. Notable portfolio companies include Kyoto Fusioneering (nuclear fusion) and GITAI (space robotics). The fund has made 17 investments to date across energy, climate tech, and advanced materials sectors.
Molten Ventures
Molten Ventures, formerly Draper Esprit, is a London-listed venture capital firm founded in 2006 that invests in high-growth European technology companies. Listed on the London Stock Exchange since 2016 (ticker: GROW), the firm focuses on enterprise software, deep tech, consumer technology, digital health and fintech, backing companies through Series A to pre-IPO stages. Notable portfolio companies include Revolut, Trustpilot and Ledger. With offices in London, Cambridge and Dublin, Molten has deployed over £1 billion across more than 100 companies.
Mubadala
Mubadala Investment Company is a sovereign wealth fund owned by the Government of Abu Dhabi, managing over $300 billion in assets across more than 50 countries. The fund invests globally across technology, energy, healthcare, and infrastructure, with a focus on long-term value creation and economic diversification. Notable investments include a major stake in GlobalFoundries, one of the world's largest semiconductor manufacturers, significant backing of clean energy through Masdar, and substantial commitments to venture capital via partnerships with funds such as Silver Lake and SoftBank Vision Fund.
Nikon
Nikon conducts corporate venture capital activities through Nikon Ventures Corporation and multiple dedicated funds, having invested in over 34 startups since launching its first CVC fund with SBI Investment in 2016. Its investment thesis centres on optics, imaging, healthcare, space, energy, robotics and carbon-neutral technologies that complement Nikon's core capabilities. In 2024, Nikon partnered with Geodesic Capital to launch the $51.5M NFocus Fund targeting mid-stage US tech startups. Notable portfolio companies include smart telescope maker Unistellar, regenerative eye medicine developer Cellusion, and computer vision company Algolux.
Presidio Ventures
Presidio Ventures is the corporate venture capital arm of Sumitomo Corporation, one of the world's largest integrated trading companies. Founded in 1998 and headquartered in Santa Clara, California, the firm invests in early- to growth-stage startups with innovative technologies across enterprise software, AI, robotics, and sustainability. With offices in Silicon Valley, London, and other global hubs, it helps portfolio companies access Sumitomo's worldwide network. Notable investments include cybersecurity giant Fortinet, spatial AI company SLAMcore, and enterprise software firm Azul Systems.
Santander InnoEnergy
Santander InnoEnergy Climate Fund is a joint venture capital vehicle launched in 2022 by Santander Asset Management and EIT InnoEnergy, Europe's leading sustainable energy innovation engine. The fund provides private banking and institutional investors access to early stage European climate tech companies addressing the energy trilemma of affordability, availability, and sustainability. Investees are primarily drawn from EIT InnoEnergy's portfolio of over 200 companies. In 2023, Santander CIB deepened the partnership by acquiring a stake in EIT InnoEnergy as part of a EUR 140 million round.
Scania Invest
Scania Invest is the in-house corporate venture capital arm of Scania, the Swedish heavy vehicle manufacturer owned by the TRATON Group. Founded in 2024, it invests across all stages in four strategic verticals: Energy and Infrastructure, Autonomous and Supply Chain, Asset Management and Circularity, and Deep Tech. Notable portfolio companies include Nyobolt (ultrafast-charging batteries), Neutreeno (supply chain decarbonisation), and Cosmos Innovation. The fund leverages Scania's industrial capabilities to support portfolio companies as a long-term strategic partner.
Seedcamp
Seedcamp is a London-based pre-seed and seed-stage venture capital firm founded in 2007. The firm backs ambitious founders building category-defining technology companies across Europe, with a focus on products that can scale globally. Seedcamp typically invests at the earliest stages, providing capital alongside operational support and access to a strong network of mentors and alumni. Notable portfolio companies include Wise, UiPath, and Revolut. The firm has backed over 400 companies across multiple funds.
Seraphim Space
Seraphim Space is a London-based venture capital firm founded in 2016 and led by CEO Mark Boggett. It is the world's most active investor in SpaceTech, managing over $550 million across public and private funds. The firm backs early-stage companies developing satellite, geospatial, and space infrastructure technologies. Its portfolio spans more than 145 startups across 33 countries, including notable investments such as ICEYE, Spire Global (NYSE: SPIR), and HawkEye 360.
Superseed
Founded in 2018 by Mads Jensen and Dan Bowyer, SuperSeed is a London-based venture capital firm that backs pre-seed and seed-stage technical founders applying AI to physical industries. The firm focuses on B2B companies bringing artificial intelligence to manufacturing, logistics, construction, defence, energy, and infrastructure. Every partner at SuperSeed has founded, scaled, and exited technology companies. Across two funds, SuperSeed has invested in 38 companies, with notable portfolio investments including Hive Autonomy, Ai Build, and OctaiPipe.
Takasago Industry
Takasago Industry is a Japanese manufacturer of industrial kilns and furnaces, founded in 1953 in Toki, Gifu Prefecture. With over 60 years of experience supplying heat treatment systems to more than 30 countries, the company has expanded into strategic investing in advanced materials and battery technology startups. Notable investments include Tohoku University spin-off 3DC (graphene mesosponge materials for next-generation batteries) and UK-based Nyobolt (ultrafast charging technology), reflecting its focus on next-generation energy materials that align with its core thermal processing expertise.
Zero Carbon Capital
Zero Carbon Capital is a UK-based venture capital firm founded in 2019 that invests in pre-seed and seed-stage hard science companies tackling deep decarbonisation across Europe. The firm backs founders building hardware and scientific breakthroughs capable of reducing emissions by at least 0.5 gigatonnes of CO2 per year. Notable portfolio companies include Levidian, Vema Hydrogen, and Cambridge Electric Cement. Co-founded by Alex Gawley, a former Google Director of Product, Zero Carbon Capital manages three funds and has made over 38 investments to date.
Lowercarbon Capital
Lowercarbon Capital is a climate technology venture capital firm co-founded by Chris Sacca and Crystal Sacca in 2018. The firm backs companies working to cut greenhouse gas emissions, remove carbon from the atmosphere, and build climate resilience across energy, transportation, industrial materials, and agriculture. With approximately $2.4 billion in assets under management, Lowercarbon has invested in over 90 companies, including notable portfolio companies such as Commonwealth Fusion Systems, Crusoe Energy, and Solugen.
EMLES Venture Partners
Emles Venture Partners is a New York-based venture capital firm founded in 2019 by Gabriel Hammond, a serial entrepreneur who previously built investment management companies with $33 billion in peak AUM after starting his career at Goldman Sachs. The firm focuses on seed stage technology investments, providing founders with quick feedback on investment decisions, commitments to future rounds, and strategic and operational support. Emles has made investments across biotechnology, productivity software, human capital services, and climate tech. Notable portfolio companies include Mytos and AirMyne.
Eastern Pacific Shipping
EPS Ventures is the corporate venture arm of Eastern Pacific Shipping, one of the world's largest privately owned ship management companies, controlled by billionaire Idan Ofer. Based in Singapore, the firm invests in startups advancing maritime decarbonisation, supply chain efficiency, and sustainability. In partnership with Techstars, EPS launched a global MaritimeTech accelerator programme. The portfolio spans over 24 investments, including Zinus (shore power), Volteo Maritime, Captain's Eye, and Edda Wind, targeting energy efficiency, emissions reduction, and safety at sea.
Lomar
Lomar is a London-based ship ownership and management company founded in 1976 by the Logothetis family, now part of the Libra Group. Through its corporate venture arm, lomarlabs (launched 2023), Lomar partners with early-stage deep tech startups tackling maritime decarbonisation, safety and autonomy. Portfolio companies include Seabound (carbon capture), CargoKite (kite-propelled micro ships), Mythos AI (marine autonomy), Alicia Bots (hull grooming robotics) and BlueNose (AI ship aerodynamics). Lomar provides catalytic funding alongside access to its fleet of ~40 vessels as floating testbeds.
Common Questions
About UK Climate Tech
What is UK climate tech?
UK climate tech encompasses startups building hardware and systems to decarbonise the economy. This includes clean energy generation, grid infrastructure, battery storage, hydrogen technology, carbon capture, sustainable agriculture, and industrial decarbonisation. The UK's net zero commitments drive both public and private investment in the sector.
Which UK climate tech companies are hiring?
UK climate tech companies hiring span clean energy, battery technology, hydrogen, carbon capture, and precision agriculture. Roles include electrical engineers, chemical engineers, data scientists, and software engineers. Hard Tech UK maintains a live directory of open climate tech positions across the UK.
Who funds UK climate tech startups?
UK climate tech funding comes from specialist cleantech venture capital firms, corporate venture arms from energy companies, government-backed funds like the UK Infrastructure Bank, and international climate-focused investors. The sector has seen a significant increase in funding since 2021, with several UK climate tech companies reaching Series B and beyond.
What types of climate tech companies are in the UK?
UK climate tech companies cover clean energy generation (solar, wind, nuclear), grid infrastructure and energy storage, hydrogen production and fuel cells, carbon capture and removal, electric mobility, sustainable materials, precision agriculture, and industrial decarbonisation. The sector includes both early-stage startups and growth-stage companies.
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