This has been a fortnight of billions and trillions of dollars. In the 18 months leading up to August, global early-stage funding in climate and clean tech startups amounted to a record US$40 billion record US$40 billion Bloomberg An Investor's Guide to Winners and Losers of COP26 Climate Talks Read more —a reflection of the swollen liquidity in the financial system. Of this deluge, however, just a trickle—around US$445 million—flowed into India until 11 November.

Last week, ~450 firms representing US$130 trillion worth of assets under the aegis of Glasgow Financial Alliance for Net Zero ( GFANZ GFANZ GFANZ is a global coalition of leading financial institutions committed to accelerating the decarbonisation of the economy. ), committed to shifting funds into green projects. Since rich nations are not meeting meeting Nature The broken $100-billion promise of climate finance — and how to fix it Read more their promise on climate finance, much rests on the ardour and appetite of private investors, who, needless to say, are looking to back projects that promise good returns.

In India, therefore, it’s mobility firms that are drawing VCs in (graphics below), while private equity (PE) firms and financial institutions are putting their considerable resources behind renewable energy. Since 2020, nearly US$294 million has been pumped into mobility companies—those dealing in electric vehicles, batteries, and charging—which are evidently the flavour of the year. Globally, VC-backed mobility deals amounted to as much as US$75 billion US$75 billion Pitchbook Rivian, mobility and the race for a net-zero future Read more this year. Many of these also saw participation from the venture arms of corporates, with a good number of these from the automotive sector. (Hyundai leads the pack with 37 mobility deals.)

The Indian market is still nascent. “I haven’t found Limited Partners (LPs) in India who have an appetite for climate tech. The return on investment [here] is lower when compared to other sectors,” says Harsha Moily. A former entrepreneur and management expert, Moily is in the middle of raising a US$200 million climate tech fund, and hopes to make its first close by January end. All the money in this sector is going to Europe, Israel, and the United States; not to India, he says.

“The so-called climate tech investments in India are in solar, wind, and EVs but we believe none of these move the needle in climate tech because their supply chain has a lot of fossil fuel built into it,” says Moily.

AUTHOR

Seema Singh

Seema has over two decades of experience in journalism. Before starting The Ken, Seema wrote “Myth Breaker: Kiran Mazumdar-Shaw and the Story of Indian Biotech”, published by HarperCollins in May 2016. Prior to that, she was a senior editor and bureau chief for Bangalore with Forbes India, and before that she wrote for Mint. Seema has written for numerous international publications like IEEE-Spectrum, New Scientist, Cell and Newsweek. Seema is a Knight Science Journalism Fellow from the Massachusetts Institute of Technology and a MacArthur Foundation Research Grantee.

View Full Profile

Read this story. Subscribe Now

This story is available across both editions. Subscribe to the one that’s most relevant for you. Questions?

 

Premium

  • 5 original and reported longform business stories every week
  • Access to ONLY India edition
  • Close to 250 exclusive stories every year
  • Full access to over 5 years of paywalled stories
  • Pick up to 5 premium subscriber newsletters
  • 4 original and reported longform business stories each week
  • Access to ONLY Southeast Asia edition
  • Close to 200 exclusive stories every year
  • Full access to all paywalled stories since March 2020
  • Pick up to 5 premium subscriber newsletters

Rs. 2,750 /year

$ 120 /year

India Edition
Subscribe Subscribe
Most Asked For

Borderless

  • 8 original and reported longform business stories each week
  • Access to both India and Southeast Asia editions
  • Close to 400 exclusive stories every year
  • Full access to over 5 years of paywalled stories across India and Southeast Asia
  • Unlimited access to all premium subscriber newsletters
  • Visual Stories

Rs. 4,200 /year

Subscribe
 

Echelon

  • 8 original and reported longform business stories each week
  • Access to both India and Southeast Asia editions
  • Close to 400 exclusive stories every year
  • Full access to over 5 years of paywalled stories across India and Southeast Asia
  • Unlimited access to all premium subscriber newsletters
  • Visual Stories
  • Bonus annual gift subscription
  • Priority access to all new products and features

Rs. 8,474 /year

Subscribe
Or

Questions?

What kind of subscription plans do you offer?

We have three types of subscriptions
- Premium which gives you access to either the India or the Southeast Asia edition.
- Borderless which gives you complete access to The Ken across both editions
- Echelon which gives you complete access to The Ken across both editions along with a bonus gift subscription

What do I get if I subscribe?

The Premium edition gives you access to stories in that edition along with any five subscriber-only newsletters of your choice.

The Borderless and Echelon subscription gives you complete access to The Ken across editions and unlimited access to as many newsletters as you like.

What topics do you usually write about?

We publish sharp, original and reported stories on technology, business and healthcare. Our stories are forward-looking, analytical and directional — supported by data, visualisations and infographics. We use language and narrative that is accessible to even lay readers. And we optimise for quality over quantity, every single time.

Our specialised subscriber-only newsletters are written by our expert, award-winning journalists and cover a range of topics across finance, retail, clean energy, cryptocurrency, ed-tech and many more.

How many newsletters do you have?

We are constantly adding specialised subscriber-only newsletters all the time. All of these are written by our team of award-winning journalists on a specialised topic.

You can see the list of newsletters that we publish over here.

Does a Premium subscription to your Indian edition get me access to the Southeast Asia edition? Or vice-versa?

Afraid not. Each edition is separate with its own subscription plan. The India edition publishes stories focused on India. The Southeast Asia edition is focused on Southeast Asia. We may occasionally cross-publish stories from one edition to the other.

We recommend the Borderless or the Echelon Plan which will give you access to stories across both editions.

Do you have a mobile app?

Yes! We have a top-rated mobile app on both iOS and Android which allows you to read on-the-go and has some amazing features like the ability to bookmark stories, save on your device, dark mode, and much more. It’s really the best way to read The Ken.

Is there a free trial?

You can sign up for a free account to experience The Ken and understand our products better. We’ll send you some free stories and newsletters occasionally, and you can access our archive of previously published free stories. You can stay on the free account as long as you’d like.

The vast majority of our stories, articles and newsletters can be accessed only by a paid subscription.

Do you offer any discounts?

Sorry, no. Our journalism is funded completely by our subscribers. We believe that quality journalism comes at a price, and readers trust and pay us so that we can remain independent.

Do you offer refunds?

No. We allow you to sample our journalism for free before signing up, and after you do, we stand by its quality. But we do not offer refunds.

I am facing some trouble purchasing a subscription. What can I do?

Just write to us at [email protected] with details. We’ll help you out.

I have a few more questions. How can I reach out to you?

Sure. Just email us at [email protected] or follow us on Twitter.