London has ranked second globally for climate tech funding.
The capital city of England was beaten to the top spot on the new list Stockholm for climate tech funding, with startups based in the Swedish capital city securing $3.6bn, trailing just behind at having invested $3.5bn.
Laura Citron, CEO of London and Partners said: "London has established itself as one of the global leaders for climate tech. We have fantastic London-based climate innovation, green tech businesses flocking to London from all over the world, and big VC funding for the sector.
"As VC levels begin to return to pre-pandemic levels, our job is clear: keep building on this momentum to make London an even better ecosystem for startups and small businesses to succeed."
According to HSBC Innovation Banking and Dealroom UK, climate tech firms raised an all-time high of $6.2bn, which accounts for 29% of total VC investments across the country and even managed to outperform the field of AI.
Russ Shaw, founder, Tech London Advocates and Global Tech Advocates: "In difficult economic circumstances, the London tech sector has once again shown its resilience and attractiveness as a home for ambitious companies looking to solve the big issues of our time."
