Meet the backers of India's green tech

800 viable climate-tech startups in India, but less than 3% have raised Series B or beyond—it's a serious scaling gap,” said Biswas.

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Large upfront capital needs, long regulatory lead times and dependence on government adoption “keep many VCs wary,” he added. “Mitigation demands patient capital; adaptation offers short payback cycles and clearer business models.”

Total climate-tech funding fell to $657 million in 2025, down from $1.17 billion in 2024 and $1.5 billion in 2023, according to data from Tracxn. The decline has been driven largely by a sharp slowdown in EV mobility funding, which has more than halved since 2023.