9 companies raised USD 2.2 billion in 2021, 57% higher than the previous 2020 record, according to a first-of-its-kind, comprehensive report called “Israel’s State of Climate Tech 2021 by the Israel Innovation Authority and Israeli non-profit PLANETech. The four highest funding rounds each came in different fields, with Future Meat raising USD 347 million for the development of sustainable cultivated meat technology. This is believed to be the largest amount ever invested worldwide in a cultivated meat company, with the sum to be used to build a production plant in the U.S. There were other major rounds that contributed to this total: Wiliot raising USD 200 million to improve supply chain footprint via battery-free sensors, UBQ Materials raising USD 170 million to convert waste to climate positive thermoplastic, and VIA raising USD 130 million to promoteanadvanceddigital platformfor shared transportation.Furthermore, “SolarEdge has become the first Israeli company to enter the S&P 500 index and Tomorrow.io is going public on Nasdaq at a USD 1.2 billion valuation", said Uriel Klar, Director of PLANETech. “There is a very vibrant climate tech ecosystem in Israel with nearly 650 startups, with funding of almost USD 3 billion between 2018 and 2020,” said Uriel Klar in an interview with The Times of Israel prior to the release of the report. Ag-tech, food-tech, water-tech, clean-tech and electric vehicles are among well-established fields in Israel, all operating in the climate-tech ecosystem. Today, Israel has nearly 1,200 companies that provide solutions to climate challenges. with 637 companies identified in the sector, the majority of which were founded in the past seven years. The report also noted that Israel has long been highly regarded for its thriving innovation ecosystem and its population’s entrepreneurial capabilities, and the country could position itself as a leading player in climate tech. “The eyes of the entire world are looking to the technology sector to produce innovative and ground-breaking solutions to reduce greenhouse gas emissions and deal with the consequences of the crisis,” said Dror Bin, CEO of the Israel Innovation Authority. Almost 1,200 companies in Israel offering solutions to climate challenges
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