Subak, a London-based climate tech accelerator has announced seeking £20M funding to tackle the climate crisis. lt will help the UK firm expand to eight data-led climate centres (‘nodes’) across six continents by 2025.
According to the company, each node will be self-sustaining and led by local experts to tackle the region’s most critical issues and create a cascading global impact.
The funds will also aid the development of a grant technology platform to democratise access to climate funding worldwide and allow funders to invest directly in critical environmental projects with confidence.
Amali de Alwis MBE, CEO of Subak, says, “We call on all investors who share our sense of urgency and commitment to the climate crisis to join us in this pivotal phase of Subak’s journey and the larger fight against climate change. Equity funding in the climate sector is vital, but it cannot be the only option – we need a unified approach from the for-profit and not-for-profit worlds if we’re going to have a real impact on the climate crisis.”
“It’s our mission at Subak to help bring these worlds together and create a cascade of global climate impact. If a single organisation that we support can influence policy, empower activists and drive change in consumer behaviour – imagine what’s possible when we apply this framework worldwide,” he adds.
Previously, Speedinvest and Contrarian Ventures have also launched funds to close the funding gap for future climate-tech founders in Europe.
Addressing climate crisis
Founded by Baroness Bryony Worthington, lead author of the UK’s Climate Change Act in 2021, Subak aims to address the climate crisis by accelerating and connecting an ecosystem of individuals and organisations working to address climate issues by supporting them to work collaboratively. Additionally, it will use data and technology to influence consumer and corporate behaviour and inform public policy.
With two hubs established in the UK and Australia and a global Data Catalogue in operation, Subak is projected to fund and scale hundreds of data-led climate organisations and projects in the next five years.
Some of the best minds support the initiative in tech, environment, and science, including Amali de Alwis (former MD of Microsoft for Startups UK and CEO of Code First: Girls), Michelle You (co-founder of Songkick), Gi Fernando MBE, and Dr. Jack Kelly (former Google DeepMind ML engineer).
Baroness Bryony Worthington, Co-Founder of Subak, adds: “I helped set up Subak to build a global ecosystem of organisations and individuals that are using data tools for climate solutions in the charitable and not-for-profit sector. As a result, we see an incredible untapped potential to fund and scale climate interventions primed for impact rather than profit.
“Often, civil society creates the perfect conditions for not-for-profits to enter markets and scale, but they receive very little support. And out of the 100 most well-funded not-for-profits in the US in 2021, none were exclusively focused on climate mitigation.
“This fundraise marks the beginning of Subak’s next chapter – new organisations are invited to learn more, offer feedback, and provide funding to help usher in climate solutions at speed.”
