Australian startups that raised millions to take care of our planet by 2024

Climate tech is becoming an increasingly important part of the Australian startup ecosystem, and every week we hear from startups raising millions of dollars in funding for climate, energy and sustainability-focused solutions.

As we celebrate Earth Day 2024, here’s a quick look at the innovative Australian tech startups in this sector that have raised serious funding so far this year.

RayGen Resources: $51 million

Today, RayGen Resources announced $51 million in Series D led by Breakthrough Victoria and SLB.

The funding is expected to strengthen RayGen’s manufacturing and engineering capabilities in Victoria and support expansion efforts both nationally and internationally.

Richard Payne, CEO of RayGen Resources. Image: RayGen

Amber Electric: $29 million

In January, Amber Electric charged with a $29 million Series C round – valuing the company at an estimated $120 million – to help it expand in Australia and enter international markets, with a focus on battery and EV automation technology.

L-R:: Mark Rees (CTO of Gentrack), Chris Thompson (co-founder and co-CEO of Amber), Gary Miles (CEO of Gentrack), Dan Adams (co-founder and co-CEO of Amber). Source: supplied

National Renewable Energy Network: $10 million

Also in January National Renewable Network has secured $10 million in new funding for its B2B platform designed to make solar and battery systems more accessible to Australians.

NRN founder Alan Hunter. Source: supplied

Boiler: $9.5 million

Precision fermentation will start in March Boiler closed a $9.5 million Series A funding round to further scale its breakthrough continuous fermentation approach, in turn paving the way for more sustainable bio-based products to achieve price parity and mainstream adoption.

Ketel co-founder and CEO Michele Stansfield. Source: Kettle

Jupiter Ionics: $9 million

Also in March, Jupiter Ionics has raised $9 million in Series A funding for its carbon-neutral ammonia, which has the potential for widespread adoption in fertilizers used in the agricultural sector.

LR: Dr. Amrutha Vijayakumar, electrochemical scientist and Dr. Jacinta Bakker, senior research coordinator. Source: supplied.

Gridcog: $6.4 million

Western Australian clean energy software startup Schedule also raised capital in March, securing £3.3 million ($6.4 million) for its platform that helps companies simulate and track clean energy projects so they can assess the best solution for their needs.

Founders of Gridcog. Source: supplied.

MGA Thermal: $5.7 million

In April, the company launched clean energy operations in New South Wales MGA Thermal has raised $5.7 million to bring its latest funding round to approximately $14 million as it prepares to enter the next phase of testing for its thermal energy storage system.

L-R: MGA Thermal executive chairman and chief scientists Erich Kisi and CEO Mark Croudace. Source: supplied

Summer: $5.3 million

Tasmanian accounting will also start in April Summer for its platform, which is described as “the only carbon accounting platform built primarily for accountants.”

L-R: Sumday’s Danny Hoare, Jessica Richmond and Lindsay Ellis. Source: Jazz Upton, Moon Cheese Studio

Gaia EnviroTech: $4.3 million

In February Victorian startup Gaia EnviroTech has raised $4.3 million to continue its work to decarbonize the food, manufacturing and agriculture sectors. The Ballarat-based organic waste management and bioenergy company has developed so-called modular in-vessel anaerobic digestion and composting services to help companies achieve environmental, social and governance (ESG) objectives.

RFM visits Gaia EnviroTech’s biolab and office in Ballarat. Source: Gaia EnviroTech

Bygen: $2.6 million

Green technology startup Bygen revealed that it had closed a $2.6 million Series A round in April, along with plans to set up a large-scale production plant for its technology that converts agricultural waste from nutshells into activated carbon, which it then uses to filter environmental toxins.

Yume: $2 million

Food distribution started earlier this year Yume has raised $2 million in seed funding to continue building its platform that eliminates food waste by connecting surplus food from manufacturers to businesses and charities.

CEO and founder of Yume, Katy Barfield. Image: supplied

Fremantle Seaweed: $1.26 million

In March, Fremantle seaweed has raised $1.26 million through a Birchal equity crowdfunding campaign. The startup grows seaweed as a means to combat climate change and provide sustainable food sources.

Fremantle Seaweed founders Chris de Cuyper and Mick Holland. Source: Fremantle Seaweed

Alt.Leer: $1.1 million

End of January, based in Melbourne Alt.Learn has raised an oversubscribed $1.1 million in seed funding for its leather products that are cruelty-free, plastic-free and made from agricultural waste.

ALT.Leather Founder and CEO, Tina Funder. Source: supplied

AVESS Energy: $1 million

The Perth-based energy storage systems will start operating in April AVESS energy raised $1 million in what it called a Series A Round 2 funding round. The company, which owns 50% of South Korean R&D company KORID Energy (vanadium redox flow battery) (VRFB) and owns its technology, bills itself as “Australia’s next energy storage solution”.

AVESS energy. Source: supplied

CarbonHQ: $600,000

In February, CarbonHQ has secured $600,000 in pre-seed funding for its all-in-one digital platform that makes carbon projects more efficient and transparent for developers.

L-R: CarbonHQ founders Allen Fan and Eugene Datsky. Source: supplied