Climate and sustainability-focussed investment firm Climate Angels has rolled out a new platform for investors to make climate investments easily.
Shailesh Vickram Singh, founder of Climate Angels told VCCircle that under its new venture, 'syndicates for climate tech startups', the firm will be looking to invest up to Rs 10 crore (around $1.3 million) across 10 climate tech-focused startups for the period of six years.
Climate Angels in a statement said that angel investors who are keen on investing in climate startups, can now do it in almost friction free matter, through Climate Angels. Now such investors can access the deal flow of climate startups raising capital and can either join the investment round led by marquee institutional investors or lead their own syndicates using the platform.
Climate Angels was launched in 2020 by Noida-based startup incubator GoMassive Earth Network. The Sebi-approved category I investment fund counts Paytm’s Vijay Shekhar Sharma, Apollo Global’s Nipun Sahni, Praveen Gandhi of SeedFund, Paula Mariwala of Stanford Angels and Lokendra Tomar of Elevate Services as its members.
“Realising the need to combat climate change, mission-driven and conscious investors such as senior executives, HNIs, family offices and others are scouting for opportunities to support climate tech startups for the green cause. Notably, Sebi mandates that individual angel investors should meet accreditation norms & invest via registered angel funds,” Singh said.
“Climate tech is emerging as key venture capital investment segment globally. In 2021, 29 new climate tech unicorns emerged in the world and prior to 2021 there were only 14. In India, climate tech nascent but in June-2022 there were two $25 million transactions in electric mobility. Tiger Global & Shell Ventures rounds in Battery Smart & Statiq respectively. Ola Electric is India’s climate tech unicorn till date but expect several new climate tech unicorns to emerge in the next 4-5 years,” he added.
Till June, Climate Angels made seven investments in sectors such as circular economy, direct-to-consumer brands that reduce chemical and plastic usage through eco-friendly products, lead recycling, electric vehicle battery swapping, filterless air purifiers focused on large spaces, rooftop solar and EV charging stations, Singh had told VCCircle in an interaction.
The firm is seeking to back around 15 to 18startups in the next 16 months, and to deploy over ₹100 crore across primary and follow-on rounds.