Global climate tech accelerator and regranter Subak has launched a £20 million fundraise to expand its data-led climate centres to eight across six continents by 2025.
Each centre, classified as a node, will be self-sustaining and led by local experts to tackle the region’s most critical issues. This will help accelerate the adoption of low-carbon technologies and spearhead the energy transition.
Alongside this, the funding will aid the company in the development of a grant technology platform aiming to democratise access to climate funding around the world.
This would allow funders to directly invest in critical environmental projects with confidence.
Launched in July 2021, Subak’s members are supported by lead author of the UK’s Climate Change Act Baroness Bryony Worthington, entrepreneur and co-founder of Songkick Michelle You, Gi Fernando MBE, and former Google DeepMind machine learning engineer Dr Jack Kelly.
“We call on all investors who share our sense of urgency and commitment to the climate crisis to join us in this pivotal phase of Subak’s journey and the larger fight against climate change,” said Amali de Alwis MBE, CEO of Subak.
“Equity funding in the climate sector is vital but it cannot be the only option – we need a unified approach from the for-profit and not-for-profit worlds if we’re going to have a real impact on the climate crisis.”
“If a single organisation that we support can influence policy, empower activists and drive change in consumer behaviour – then imagine what’s possible when we apply this framework on a worldwide scale.”
Subak opened applications for its 2022 cohort in December, with up to £110,000 of unrestricted grant funding on offer to help startups to scale.
The accelerator is looking to support ten early-stage organisations across the UK and Australia through a 12-month programme, which will have a unique curriculum covering tech, data, and policy as well as business fundamentals.
