Climate change is one of the most significant challenges of our time, and addressing it will require developing and deploying innovative technologies and practices. The climatetech startups Southeast Asia is birthing are at the forefront of this transition, with many focusing on solutions that can help mitigate the impacts of climate change or adapt to a changing environment.
Are climate tech startups in Southeast Asia making any real impact?
We explore the top five climatetech startups in the region that have a promising future in 2023 and beyond.
This innovative Singapore-based startup aims to connect companies with causes that align with their values and those of their customers. Handprint offers a unique solution known as Impact as a Service (IaaS) which helps companies integrate positive social impact into their services.
In December 2022, the startup managed to secure investment from Singtel Innov8, Singtel’s corporate venture capital fund. The additional funding takes Handprint’s total seed funding to over USD 3 million. Alongside the funding round, the company has also introduced its new product, Handprint for Impact Partners. This SaaS platform makes it simple for NGOs of all sizes to digitise their regenerative efforts, enhance their impact projects’ exposure to corporates and measure and report their verified impact all on one platform.
The Vietnam-based electric motorbike startup is revolutionising the way people get around in urban areas. Dat Bike is developing a fleet of electric bikes that are affordable, convenient, and environmentally friendly, and it allows users to locate and unlock them using their smartphones. The company’s goal is to accelerate Southeast Asia’s transition to green transportation on a large scale.
The startup secured USD 8 million in a funding round led by Singapore-based Jungle Ventures. Other participants in the round included GSR Ventures, Delivery Hero Ventures, Wavemaker Partners, and Innoven Capital, bringing the total funds raised to USD 16.5 million. With the new capital, the company plans to invest in improving its technology and products, expanding its team and enhancing its production capabilities. It also has earmarked some money for investing in capacity building in its factories and expanding its reach to other Tier 1 cities in Vietnam in the near future.
The venture capital firm Lightspeed believes the preference for green jobs is the most exciting development in climatetech. Increasingly, companies and individuals seek employment opportunities with a positive environmental impact. Enhanced awareness of the need to combat climate change and reduce carbon emissions has fueled this shift towards “green careers.”
Already, there are green jobs available in various industries, including renewable energy, sustainable agriculture, and ecotourism, and Lightspeed claims that this trend toward green jobs will lead to an increase in investment in climatetech and hasten the transition to a low-carbon economy.
Another Singapore-based startup, Zuno Carbon, founded by a team of engineers in 2020, offers unparalleled end-to-end carbon management solutions for organisations of all sizes. Their services include comprehensive carbon footprint assessments and expert sustainability consulting. Leveraging AI-generated insights, Zeno Carbon empowers organisations to significantly reduce their environmental impact and shift their focus from mere reporting to transformative action.
In June 2022, the startup closed a pre-seed funding round led by Blue InCube Ventures and SEEDS Capital, with Enterprise Singapore’s investment arm, Seeds Capital, also participating. Despite not disclosing how much was raised, the company states that it will use its funds to hire more employees and speed up its product development. Zeno Carbon plans to develop a cutting-edge AI recommendation engine and a comprehensive reporting module to offer a full ESG reporting solution in the future.
Fairatmos is an Indonesian climatetech startup that aims to assist project developers to design carbon sequestration projects, verify carbon credits and connect with companies and individuals seeking to offset their carbon emissions to reach their net-zero goals.
Recently it raised USD 4.5 million in a seed funding round, with Go-Ventures and Kreasi Terbarukan TBS leading the round and participation from Vertex Ventures Southeast Asia and India and other prominent angel investors. The new funds will be used to expand the platform by introducing new digital innovations in the carbon market, reaching out to more communities and project developers, and expanding the team across multiple functions.
As 2023 begins, the top five climatetech startups Southeast Asia is home to appear to have a promising future. These companies are addressing some of the most pressing challenges related to climate change, and their innovative solutions have the potential to make a significant impact on the region and the world. Climatetech startups are at the forefront of the transition to a more sustainable future, and it is all our responsibility to seek out sustainable and eco-friendly practices, products and services. By doing so, we can help drive the transition to a more sustainable future and address the challenges posed by climate change.