The funding landscape for Climate-tech witnessed a steady trend in the first two months of H2 FY2026 (October-November 2025), recording ~ $200 million across 35 deals. While the total capital deployed has moderated compared to the ~ $1,253 million raised across 73 deals in the preceding six-month period (averaging ~ $209 million per month), the deal velocity remains robust, averaging nearly 17 deals per month compared to 12 per month in the prior period.
This period indicates a continued growth of early-stage bets. While the previous half-year was defined by a mix of growth capital and late-stage rounds, the current data highlights a focus on the Seed stage, which accounted for 69% of deal volume (22 out of 35 deals). Series A activity also remained healthy, contributing nearly 47% of the total funding value ($93.8 million). This surge in early-stage activity signals a widening funnel of new climate innovations entering the market, even as ticket sizes normalize.
Sustainable Mobility retained its position as the most active subsector, attracting $86 million across 12 deals. However, the dominance of mobility is being closely challenged by the Energy sector, which secured $71 million across 11 deals, narrowing the gap significantly compared to previous quarters.
In the Mobility sector, EKA Mobility spearheaded the capital inflow with a $56.9 million round, demonstrating a persistent belief in OEM expansion. Beyond OEMs, the ecosystem continues to diversify into infrastructure and components, evidenced by 3ev and Chara Technologies, the latter focusing on deep-tech motor solutions.
The Energy segment exhibited strong resilience, largely due to continued confidence in late-stage deals. A notable transaction involved Waaree, which secured the second-largest investment of the period at $36.6 million. Significant later-stage funding was secured, reflecting strong confidence in solar manufacturing. This trend was further supported by investments in both renewable infrastructure, with OMC Power raising $12 million (Later Stages), and distributed energy models, as showcased by Goldi Solar's $7.6 million Series A funding.
Notably, the "Others" category (including carbon markets and climate data and other subsectors) outperformed historical trends, raising $35 million, largely driven by a standout $30 million Series B round by Varaha. This marks a significant maturity signal for nature-based solutions and carbon markets in India, a segment that had previously seen smaller, seed-sized transactions
Stage Wise Snapshot
Sector Wise Analysis
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