{"id":10103,"date":"2022-04-22T05:34:00","date_gmt":"2022-04-22T09:34:00","guid":{"rendered":"https:\/\/newsosv.wpengine.com\/?p=10103"},"modified":"2024-01-09T20:28:48","modified_gmt":"2024-01-10T01:28:48","slug":"the-2022-sosv-climate-tech-100","status":"publish","type":"post","link":"https:\/\/sosv.com\/the-2022-sosv-climate-tech-100\/","title":{"rendered":"The 2022 SOSV Climate Tech 100"},"content":{"rendered":"
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Welcome to the second annual SOSV Climate Tech 100.<\/p>\n\n\n\n

We launched this list last year to showcase the depth and variety of SOSV\u2019s climate tech investments, most of which started at our HAX<\/a> (hard tech) and IndieBio<\/a> (biology) programs.<\/p>\n\n\n\n

We decided to make the list an annual event because it provides a useful, cross-program window into SOSV\u2019s commitment to planetary health \u2014 part of the firm\u2019s core mission \u2014 and at the same time offers a barometer for climate tech valuations and investments. As we detail below, the valuations as well as capital invested in the 100 soared in the past year.<\/p>\n\n\n\n

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\u201cSOSV has been deeply committed to climate tech for over a decade. We find and fund pre-seed startups that are inventing a better future. The human race isn\u2019t called a race because we\u2019re standing still \u2014 we\u2019re in a hurry and we can do it; and because we can do it, we must do it.\u201d<\/strong> <\/em><\/p>\n\n\n\n

\u2014 Closing address of Sean O\u2019Sullivan, SOSV Managing Partner, at the SOSV Climate Tech Summit 2022 (video<\/a>)<\/h4>\n<\/blockquote>\n\n\n\n

We hope the SOSV Climate Tech 100\u2019s progress encourages more venture capitalists to join in supporting startups that aim to make a difference in humanity\u2019s future. And we hope that the bold examples of the 100\u2019s founders will encourage new climate tech innovators to step forward.<\/p>\n\n\n\n

Just yesterday, one of the most outstanding founders in any portfolio, Upside Food\u2019s Dr. Uma Valeti, announced a $400 million series C raise<\/a>, which officially makes the leader in cultured meat a unicorn. Dr. Valeti and Upside started at SOSV\u2019s IndieBio accelerator in San Francisco just seven years ago with the then outlandish idea that we could have real meat for the table without animal slaughter or the climate degrading impact of animal agriculture.<\/p>\n\n\n\n

The effort to bring the earth\u2019s climate under control will take many more like Uma Valeti. Founders, please get in touch with the teams at HAX<\/a> (Shenzhen and Newark, NJ) and IndieBio<\/a> (NYC and SF). Note: SOSV initially invests only in pre-seed and seed companies that join our programs.<\/em><\/p>\n\n\n\n

Investors, please reach us here<\/a>.<\/p>\n\n\n\n

If you would like to hear from the top investors and founders in climate, register today for the second annual<\/a> SOSV Climate Tech Summit<\/a> (Oct 25\u201326, 2022). It\u2019s virtual and it\u2019s free.<\/p>\n\n\n\n

The 100: 2021 vs 2022<\/strong><\/h2>\n\n\n\n

We added 19 new companies and retired the same number.<\/strong> The changes reflect exits and other changes in company status, as well as the success of new companies emerging from our programs. We provide brief descriptions of the new companies below; for more information of the 81 returnees, find more details here<\/a>.<\/p>\n\n\n\n

The total valuation of the 100 doubled, reaching more than $11 billion.<\/strong>That leap in valuation is due to the rapid growth of returning startups, not the new additions. The number of unicorns jumped from two (Formlabs<\/a>, GetAround<\/a>) to five ( Perfect Day<\/a>, NotCo<\/a>, Upside Foods<\/a>). Those five represent more than 10% of the climate unicorn count<\/a> globally.<\/p>\n\n\n\n

The total funding in the 100 also doubled to reach $3.8 billion.<\/strong> SOSV\u2019s capital deployed, which starts at pre-seed and continues in later rounds, grew 55% to reach $138 million.<\/p>\n\n\n\n

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