EVs lead climate tech funding but more needed for niche solutions: Experts

Climate tech start-ups traditionally require longer gestation periods due to which the sector has not generated strong commercial returns recently

Even as investments in the Indian climate technology (tech) sector have grown a staggering fourfold this year, most of the financing has been limited to the mobility and transport sector, primarily electric vehicles (EVs). There are currently 2,053 climate tech start-ups in India.

According to the data from Tracxn, a market intelligence platform, climate tech start-ups have raised $2.02 billion in equity funding from 122 deals (between January 1 and November 10) in 2022, compared with $589 million from 147 deals in the same period last year (2021).

The whole of 2021 saw $844 million in funding from 171 deals, up from