Greentown Labs’ Startups Milestone: $1 Billion Raised

With immense pride and excitement, we are thrilled to announce that Greentown Labs members have collectively raised more than $1 billion to advance their climate technologies.

If you’ve been in the clean energy and cleantech ecosystem for the past decade, you can appreciate how significant this is! 

Greentown was founded in 2011 as the industry rose from the ashes of the cleantech bubble burst, and there was little capital to be found. Fast forward to present day, and there are more and more investors dedicated to supporting the development, deployment, and commercialization of climatetech solutions. There are early-stage funds such as Clean Energy Ventures and Powerhouse Ventures, and later-stage funds like Breakthrough Energy Ventures, the Bill Gates-backed fund that supports innovations that will lead the world to net-zero emissions. We’ve also seen new nonprofit and startup support organizations invest philanthropic capital into climatetech startups, including VertueLab, Clean Energy Trust, and Prime Coalition

Given this great progress in the industry, it’s no surprise that climatetech investments grew nearly five times faster than the wider VC industry did from 2013 to 2019, according to PWC’s “The State of Climate Tech 2020” report. 

Let’s keep this momentum going as we settle into this century’s “roaring 20s”—the decade for climate action! As we all continue to push the climatetech industry forward, please join us in celebrating our members’ incredible progress over Greentown’s first 10 years. Over the past decade, we’ve proudly cheered on Bevi’s funding announcements, all the way from $6.5 million in 2015 to $35.5 million in 2019. Our team celebrated Form Energy’s biggest Greentown member funding round ever in 2019 at $40 million—and then again in 2020, when they broke their own record, raising $70 million. These startups are driving the future of their sectors—and leading us toward a decarbonized future—and every climatetech startup funding milestone is a milestone for climate action. 

In honor of our 10 year anniversary and #Greentown10 campaign, we’ve compiled a sampling of our members’ biggest fundraising milestones. Join us in sending a virtual high-five to our entrepreneurs for their resilience and grit over the past decade, and to the investors for their commitment to supporting climatetech innovations. Click here to send this virtual high-five on your social channels! 

And if you’re an investor interested in engaging with our startups, please let us know here!