The State of Sustainability Tech

Excerpted from an article by for Hypepotamus. Read the full article here.

Earth Day started in the 1970s as a way to bring awareness to environmental science and conservation efforts. But as businesses and individuals search for more green alternatives, awareness is no longer enough, says Venkatesh Kini, co-founder at Ubuntoo.

“Too often, companies get credit for bold ambitions but don’t they don’t get the feet held to the fire for achieving those,” Venkatesh Kini, co-founder of  Ubuntoo.

Ubuntoo is one of several Southeast tech startups helping companies achieve a more sustainable future. The AI-focused platform helps global clients find solutions for plastic waste, pollution, climate change, regenerative agriculture, sustainable fashion, and packaging problems they face.

Funding is starting to follow for startups looking to lead on sustainable transformation. Overall,  ClimateTech startups alone raised well over $32 billion in VC funding in 2021.

Closer to home, Ubuntoo raised a $3.3 million seed round from international investors last summer and Atlanta-based cove.tool raised its $30 million Series B at the end of last year.

More recently, JTEC Energy announced it has raised $30 million funding with investors coming from the oil and gas sector. CEO Mike McQuary told Hypepotamus that after showcasing its working model a few months back, the team is set to double in size over the next year in order to turn waste heat directly into electricity. That could help transform how we think about empty wellbores that have been used for oil and gas extraction.