Tech firms working on fighting the climate change crisis have raised record-break $32 billion till now this year, as per the report published on Tuesday by venture capital analysis firm Dealroom and promotional agency London & Partners.
It reported that the amount of venture capital money flowing into climate technology companies in 2021 has already crossed the whole of 2020.
This investment in climate tech companies is more than four times that of 2016 when investors backed start-up firms in this sector raised just $6.6 billion.
It comes as few top investors in the world recognize the potential in climate-focused start-up firms. On Monday, Blackrock CEO Larry Fink expressed that he anticipates the next 1,000-billion-dollar start-up firms to be in the climate tech sector.
Between 2016 and 2021, climate technology companies in the U.S. raised the most funding in comparison to other nations.