3 Fast Growth Climate Tech Startups To Watch In 2023

TSCHAGGUNS, AUSTRIA – AUGUST 03: Hikers make their way towards Switzerland over the Gruenes Fuerkele … [+] peak in the Raetikon mountain range on August 3, 2016 near Tschagguns, Austria. The Raetikon mountains, part of the Central Eastern Alps, straddle the borders between Liechtenstein, Switzerland and Austria in a region where a break-away African tectonic plate has clashed with European sheets, resulting in a rich geology that fosters a wide variety of wildflowers. The mountains, with their Sulzfluh and Schesaplana peaks, are also a popular destination for hikers and climbers. (Photo by Sean Gallup/Getty Images)

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Climate tech has emerged as a safe haven for investors amid a sluggish global economy that has faced a series of unprecedented shocks over the last few years.

Pitchbook estimates the climate tech market will see compound annual growth of 8.8% in coming years, reaching nearly $1.4 trillion within the next five years. This creates favorable headwinds for right place, right time climate tech entrepreneurs who are bringing solutions to the biggest challenge of our time – climate change. The sweeping green industrial revolution will bring transformation across almost every sector of industry and society; it’s hard to understate the opportunity this represents; today’s high-value, fast-growth climate tech startups will emerge as the business winners of the decade.

Here are 3 fast-growth climate tech startups to watch in 2023

ProducePay

ProducePay is a fintech and digital marketplace solution that gives farmers access to capital and connects produce-growers directly to the end buyer.

ProducePay also helps growers find end buyers in its marketplace and underwrites the farming and trading risk for growers, which involves weather, logistics.

Within 8 years since inception, ProducePay has helped 700 farms – worth about $4 billion of produce – get access to capital and receive the best return on their commodities.

Within the last 18 months, ProducePay has tripled its market share, due to its ability to successfully replicate its model across countries and continents.

“We’re very happy to see our model resonating with other geographies across the world. The produce industry has become largely globalised, and a lot of produce today is being grown in emerging economies. So it is essential for the success of our business and for the network effects that we can replicate our model across different geographies,” says ProducePay founder Pablo Schwarzbeck,

“We’re very excited to follow this through until we can bring a new reality that is largely available to the farming community across the world. We’ve grown from North America and the Americas and our next expansion is mostly focused in Europe,” Schwarzbeck explains.

Ecosia

From planting 153 million trees to seeing 20% YoY revenue growth – Ecosia – as the world’s biggest non-for-profit search engine, continues to thrive, grow and contribute.

Ecosia has not only planted an incredible 153 million trees, it has transformed entire communities and brought degraded land back to life. It’s a testament to how the cumulative power of small actions taken by the collective, over time, creates sweeping positive global change.

“We’re planting more trees than ever, but we would like to plant much, much faster!,” says Ecosia Founder Christian Kroll. “We hope more people use us so we can plant more trees. We calculated that if everyone used us instead of Google, we could plant around 300 billion trees every year and we would get to that 1 trillion very quickly – it’s not impossible but we need more users to do it.”

Skyfri Technologies

Skyfri Technologies developed technology which could streamline and automate solar asset operations to make solar power cheaper and solar capital investment significantly more sustainable.

Skyfri’s technology targeted a genuine market pain point and within just a few months of launching, company growth soared by 500%. And with Skyfri’s solar asset management solution offering immediate savings of operating heads by 20-30% for power plants that were previously manually managed, their skyrocketing growth is hardly a surprise. Backed by climate investors SpeedInvest, Singularity and Link Venture, Skyfri manages about 185 sites worldwide and is dramatically accelerating growth through targeted acquisitions.