Latest news with #ClimateTech
The Verge
19-05-2025
- Business
- The Verge
Tech that's supposed to take CO2 out of the atmosphere is falling far short of expectations.
Microsoft, TikTok, and other big names have signed deals with Climeworks, a company developing technologies to filter CO2 out of the air, as a way to try to clean up some of their planet-heating pollution. But Climeworks hasn't even been able to capture enough CO2 to offset its own carbon footprint yet. The climate tech company announced layoffs as it faces ' a challenging time ' — including uncertainty around the future of its projects in the US.
Zawya
14-05-2025
- Business
- Zawya
Hub71 startup CarbonSifr showcases its multi-AI agent climate platform at Meta HQ
CarbonSifr emerged as the winner of Meta's Llama Challenge, organized in collaboration with Dubai Holding. It was selected as the only ClimateTech company to showcase at Meta's Global AI Innovation Summit in Menlo Park, USA. Abu Dhabi – In a landmark moment for UAE innovation, CarbonSifr, a Hub71 climate-tech startup based in Abu Dhabi, became the only Climate Tech startup globally invited by Meta to showcase its multi-agent climate action platform at its headquarters in the United States. At the heart of CarbonSifr's breakthrough is a proprietary emission measurement and reduction recommendation engine built using Meta's open-source AI - Llama. This enables businesses to achieve highly accurate, localized Scope 3 emissions measurement and actionable reduction recommendations across their supply chains; a long-standing blind spot in enterprise sustainability. Until now, the complexity of Scope 3 calculations, particularly in diverse regional contexts like the Middle East, has made them difficult for companies to act on. CarbonSifr has emerged as a global first mover in solving this challenge by combining AI with regional emissions modeling and supply chain-focused reduction recommendations. This capability was instrumental in securing a deeper engagement with Dubai Holding, one of the region's most diversified global investment companies. As part of Hub71's growing community, CarbonSifr has benefited from a founder-focused ecosystem that provides access to capital, regulatory support, and a powerful network of corporate and government partners, enabling its growth and visibility on the global stage. Hashem Al Kaabi, Head of Operations and Corporate Services, Hub71, commented: 'Creating the right foundation for startups to thrive means ensuring they have access to the right resources, infrastructure, and partnerships needed to scale. CarbonSifr's journey from Abu Dhabi to Silicon Valley is a powerful example of how this environment enables global ambition and real-world impact from the heart of the UAE capital." 'We built CarbonSifr with the belief that climate action at scale is only possible when it is married with core business objectives such as cost reduction, energy efficiency, access to green financing, and increased resource utilization,' said Onur Elgun, Co-Founder and CEO of CarbonSifr. 'Being invited by Meta to Menlo Park was an inspiration and an honor, but more importantly, it validated that climate solutions from Hub71 can solve global problems. Our engagement with Dubai Holding reflects how data can turn ambition into action.' Johanna Salem, Associate Director ‑ Sustainability at Dubai Holding, added: 'Dubai Holding is committed to achieving Net Zero by 2050, in line with the UAE strategic initiative, and the Group is a signatory of the MOCCAE Climate-Responsible Companies Pledge. CarbonSifr's technology provided us with the capability to measure our Scope 3 emissions, marking a significant step toward value-chain decarbonization. Leveraging this information allows us to implement targeted measures to reduce emissions at every level' CarbonSifr is TÜV Rheinland certified. Its platform enables organizations to measure, reduce, and remove emissions across Scopes 1, 2, and 3, with a particular focus on Scope 3, the most difficult and opaque category, covering everything from supply chain emissions to end-user impacts. This level of intelligence allows companies to shift from estimations to action, unlocking climate impact at scale. With Decree 11 2024 going live in May and sustainability disclosure becoming mandatory for listed entities in the UAE, CarbonSifr's timing couldn't be more critical. Businesses looking to stay ahead of regulatory shifts, and demonstrate real ESG impact must begin building capacity around full-spectrum carbon measurement and reduction, with Scope 3 at the center of this transformation. For more information, visit: About CarbonSifr CarbonSifr is an Abu Dhabi-based climate-tech company, part of Mubadala's Hub71 in Abu Dhabi. They provide technology solutions to measure, reduce, and remove businesses' carbon footprint. Recognized for its efforts, CarbonSifr is pivotal in promoting climate awareness and accelerating climate action in the Middle East. CarbonSifr's AI enabled calculation engine and its methodology are TÜV Rheinland certified. You can find out more about CarbonSifr here: About Hub71 Hub71 is Abu Dhabi's global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation. Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71's entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation's continuous economic development. For more information visit and follow us on @Hub71AD #Hub71. Media contacts: Zoe Saunders, TechHubEdelman@
Zawya
07-05-2025
- Business
- Zawya
NIA Eyes Green Tech Unicorns Within Three Years, Four Thai Startups Set to Showcase at ‘Web Summit Qatar 2025' as Global Green Innovation Market Forecasts 25% Annual Growth Over the Next Decade
BANGKOK, THAILAND - Media OutReach Newswire - 7 May 2025 - The Ministry of Higher Education, Science, Research and Innovation (MHESI), through the National Innovation Agency (Public Organization), or NIA, is opening up new international opportunities by leading four Thai startups specializing in environmental technologies (Climate Tech/Green Tech) to participate in the Web Summit Qatar 2025 in its capital Doha. The event serves as a gateway for Thai innovation to enter the global market, bringing together startups, experts, and international investors to exchange insights and showcase cutting-edge solutions. This move comes amid booming global demand for green technology. The environmental tech sector is expected to grow at an average rate of 25% annually over the next ten years, underscoring a unique opportunity for Thailand to cultivate and launch a new generation of climate/green tech startups—potentially propelling them to unicorn status. Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (NIA), noted that the global sustainability movement is gaining significant momentum. SMEs, startups, and industrial sectors worldwide are rapidly integrating technology to drive sustainable innovation. As a result, startups that develop solutions for environmental preservation and climate change mitigation are attracting increasing attention from both consumers and investors—domestically and abroad. The surging global appetite for these technologies reinforces their massive market potential, with projections suggesting a sustained average growth rate of 25% annually for the next decade. Thai startups are well equipped with innovation capabilities comparable to their international counterparts. However, a lack of opportunities and readiness in structured business management has often hindered their full potential for expansion into global markets. As the nation's designated Focal Conductor for innovation, the NIA is therefore committed to providing comprehensive support—including funding, opportunities, and knowledge development—to empower Thai startups to grow with greater strength and readiness for international expansion. A particular focus is being placed on accelerating the development of startups in the fields of environmental technology and sustainability, with the ambition of nurturing more Thai unicorns—startups valued at over 1 billion US dollars—over the coming years. To achieve this, it is crucial to stimulate investment through collaborative efforts between the public sector, private enterprises, and academic institutions. One key initiative towards this goal is the Unicorn Factory Thailand project, which aims to enhance the capabilities of promising startups and unlock new opportunities to propel them onto the global stage. The program will feature workshops targeted at startups in the Series A stage and beyond, covering vital areas such as building sustainable businesses, expanding investor and partner networks, strategies for international market entry, and gaining opportunities to pitch at leading global technology and innovation showcases. Dr. Krithpaka further added that over the past year, the NIA successfully created new business opportunities and connected four growth-stage Thai startups, along with one winning student team from the Startup Thailand League 2024, to the global stage at TechCrunch Disrupt 2024—a leading global technology and startup conference and exhibition. During the event, the delegation also engaged in discussions with partner organizations supporting startup development in the United States. These engagements provided valuable exposure for Thai startups, enabling them to explore market expansion strategies and gain access to networks of investors, experts, and global business partners. In 2025, the NIA remains committed to driving Thai startups towards international markets by continually building new business opportunities. This year, four promising Thai startups in the fields of Climate Tech and Green Tech have been selected for further internationalization efforts. These are: 1. – developers of intelligent energy management systems; 2. ION ENERGY CORPORATION – a leading provider of residential solar energy solutions in Thailand, offering integrated energy management and payment platforms for PPA/EPC clients; 3. VEKIN (Thailand) – creators of the AI Carbon Editor tool, designed to analyze and manage carbon emissions for corporate and industrial sectors; and 4. MUI Robotics – developers of intelligent robotics and automation systems for applications in industries such as manufacturing, logistics, healthcare, and agriculture. These four startups are showcasing their innovations, presenting business plans, and engaging directly with investors and international markets at Web Summit Qatar 2025, held in Doha, Qatar. As the Middle East's largest technology and startup conference, the event brings together startups, investors, major corporations, public and private sector organizations, and technology leaders from across industries to exchange knowledge, foster collaboration, and strengthen the international startup ecosystem. The summit expects more than 25,000 attendees, featuring 1,520 startup companies, 723 investors, and 167 partners from around the world. Notably, the Thai startups' booths attracted strong interest from investors and businesses across multiple countries, resulting in numerous business discussions and information exchanges. "The NIA aims to produce one to two new homegrown unicorns within the next three years, focusing on startups in the FoodTech and GreenTech sectors," stated Dr Krithpaka. "These sectors have considerable market demand, particularly GreenTech, which is proving especially promising. Organizations of all sizes—from large corporations to SMEs—are actively seeking solutions to environmental challenges, spurred in part by the growing pressure of carbon taxes imposed on fossil fuel emissions. This has created significant demand for environmental innovations, providing fertile ground for the emergence of high-growth startups in this space. Investment in environmental and sustainability-focused technologies continues to rise, both in Thailand and abroad. Thailand, in particular, offers a unique combination of factors that position its startups for global expansion: abundant space and resources, as well as real-world environmental challenges that make it an ideal sandbox environment for piloting environmental technologies. These technologies can be trialed across industries under the country's Green Transformation framework—whether through the adoption of renewable energy, boosting energy efficiency, reducing greenhouse gas emissions, or mitigating pollution. There is capital available—both from end-users and from investors—and there is strong momentum in the ecosystem. All of this makes Thailand a viable launchpad for unicorns." Mr Phattananat Wongwan, Chief Growth Officer (CGO) of MUI Robotics Co Ltd, stated that MUI Robotics' technologies are already being widely adopted within Thai industries, thanks to their ability to address environmental concerns within industrial production processes. With the support of the NIA, MUI Robotics has been able to accelerate its growth and extend its reach into international markets. In particular, the opportunity to meet with investors and showcase their solutions at Web Summit Qatar 2025 has significantly raised the profile of Thai innovation and helped gain recognition from overseas investors. "Our technologies go beyond solving local environmental challenges—they're applicable to industrial problems on a global scale," said Mr Phattananat. He emphasized that government support is key to enabling more startups to emerge and thrive. "If the government continues to champion and invest in the startup ecosystem, especially in the Climate Tech and Green Tech sectors, Thai startups will be well positioned for sustainable growth on the world stage." Mr Pamekitti Puktalae, Technical Product at AltoTech Global Co Ltd, remarked that many industries today are striving to position themselves as leaders in sustainability. This demand creates opportunities for startups developing environmental solutions—whether by creating carbon-neutral spaces or providing ESG-supporting tools—to step in and add real value. He continued, "NIA's support in enabling AltoTech, which integrates AI and IoT to address sustainability challenges, to showcase our capabilities at Web Summit Qatar 2025 has opened a crucial gateway for Thai startups to enter the global stage. A market like Qatar, which prioritizes sustainability and smart infrastructure, is an ideal fit. Participating in this event has not only allowed us to engage with global stakeholders and gain insights into international market demands, but also helped us fine-tune our solutions to align with diverse expectations and accelerate our global expansion." "Additionally," he added, "this opportunity has significantly boosted the credibility of Thai entrepreneurs, which in turn has increased our visibility and appeal to both domestic and international investors." Hashtag: #NIA The issuer is solely responsible for the content of this announcement. National Innovation Agency (NIA)
TECHx
26-04-2025
- Business
- TECHx
Hub71 Drives Record Growth in 2024, Boosting Tech Investment UAE
Home » Startups » Hub71 Drives Record Growth in 2024, Boosting Tech Investment UAE Hub71, Abu Dhabi's global tech ecosystem, has published its 2024 Impact Report, highlighting a year of major growth and international momentum. The ecosystem continues to strengthen Abu Dhabi's position as a center for innovation, entrepreneurship, and tech investment UAE. In 2024, Hub71 startups raised $2.17 billion (AED 8.02 billion), up 44.7% from 2023. This increase reflects strong investor confidence in Abu Dhabi's innovation economy. Startup revenue also rose to $1.2 billion (AED 4.5 billion), showing steady commercial success. Applications to join Hub71 surpassed 3,100, with founders from over 20 countries. Notably, more than 70% of startups selected were international, with strong representation from the US, UK, and Germany. Hub71's global reach continues to grow. According to the 2024 Global Startup Ecosystem Report, Abu Dhabi is the fastest-growing emerging startup ecosystem in MENA. Its value rose 28% to $4.2 billion. Hub71's sector-specific focus, through programs like Hub71+ Digital Assets, ClimateTech, and AI, played a key role. Partnerships with tech leaders such as Google, NVIDIA, and AWS are also accelerating growth. Startups in the Digital Assets program alone raised over $100 million, strengthening Abu Dhabi's technology leadership. Capital access remains a priority. In 2024, Hub71's partners deployed $65 million (AED 238 million) into the ecosystem. New investors such as Princeville Capital and Golden Gate Ventures joined. In addition, Tech Barza, Hub71's capital club, closed its first deal and grew membership by 10%. To further support early-stage startups, Hub71 launched an Angel Investor Support Package. This initiative helped activate five new angel networks, boosting startup scalability in Abu Dhabi. Meanwhile, strategic partnerships helped startups gain market access. In 2024, Hub71 startups signed 91 corporate deals worth $28 million (AED 103 million) with government and private sector players. Programs like the Regulatory Sandbox allowed startups to pilot solutions in smart mobility, digital health, and food innovation. Despite a changing funding environment, Hub71 startups attracted major investments. FinTech startup FlapKap raised $34 million (AED 124.7 million). ClimateTech innovator 44.01 secured $37 million (AED 135.7 million) to expand its carbon capture technology. HealthTech startup BioSapien closed $5.5 million (AED 20 million) to advance its cancer treatment implant. Today, Hub71 is home to a growing community of founders focused on solving global challenges. With strong access to capital, strategic partners, and specialist programs, Hub71 is helping Abu Dhabi's innovation economy thrive. Hub71's 2024 Impact Report confirms its role as a major driver of tech investment UAE and highlights its contribution to shaping the future of global technology.
Khaleej Times
24-04-2025
- Business
- Khaleej Times
Hub71 records $2.17 billion in startup funding as Abu Dhabi rises among global tech hubs
Hub71, Abu Dhabi's global tech ecosystem, on Thursday announced that in 2024, startups within its purview secured a record $2.17 billion (Dh8.02 billion) in funding; a 44.7% year-on-year increase from $1.5 billion in 2023. Revenue generated by startups also climbed to $1.2 billion, up from $1 billion the previous year. During the year, Hub71 received over 3,100 applications from entrepreneurs representing more than 20 countries, highlighting the growing global appetite to build from the UAE capital. Of the 46 startups selected, approximately over 70% came from international markets, with more than half in the Seed or Series A stages. Startups from the US, UK and Germany, made up nearly 63% of Cohort 16, cementing the city's reputation as a gateway between established tech hubs and high-growth emerging markets. Ahmad Ali Alwan, chief executive officer of Hub71, said: 'Hub71 began as an ambitious idea to enable founders to build from Abu Dhabi. That idea has since grown into a thriving community of entrepreneurs, investors, and partners working together to drive lasting impact. The progress captured in this report reflects the strength of our ecosystem and the trust placed in us by those who believe in Abu Dhabi's long-term potential. As we look ahead, our focus remains on empowering founders and positioning Abu Dhabi as a global hub for technology and innovation.' Hub71's momentum mirrors Abu Dhabi's growing status on the global startup map. According to the 2024 Global Startup Ecosystem Report, the emirate is the fastest-growing emerging startup ecosystem in Mena, with its ecosystem value rising 28% to $4.2 billion between mid-2021 and end-2023. StartupBlink's 2024 rankings placed Abu Dhabi sixth regionally and second in the UAE, reinforcing its rising global profile. Much of this rapid growth has been fueled by Hub71, which is driving sector-wide transformation through its specialist ecosystems. Hub71+ Digital Assets, Hub71+ ClimateTech, and the newly launched Hub71+ AI are attracting startups that are developing impactful solutions to some of the world's most pressing challenges. Startups in the Digital Assets programme alone have raised more than $100 million, while partnerships with global tech leaders like Google, NVIDIA, Solana, Hashed and AWS are accelerating innovation across Web3, AI, renewable energy, and deep tech. This sector-driven approach is also contributing to the development of Abu Dhabi's strategic economic clusters. From enabling breakthroughs in smart mobility through the SAVI cluster, to advancing sustainable agriculture and food security via the AGWA cluster, Hub71 is playing an active role in positioning Abu Dhabi as a global center for innovation across critical industries. Funding networks expand, angel capital activates Capital access remains a central pillar of Hub71's strategy. In 2024, capital partners deployed $65 million into its startup community. The global tech ecosystem welcomed new investors, including Princeville Capital, The Catalyst, and Golden Gate Ventures. Meanwhile, Tech Barza, Hub71's exclusive capital club for family offices, recorded its first startup deal and a 10% increase in membership. To unlock early-stage capital, Hub71 launched the Angel Investor Support Package empowering five new angel networks, including Falcon Valley and Qora71, to facilitate more early-stage ticket investments, thereby accelerating the growth and scalability of startups within the Abu Dhabi ecosystem. Strategic partnerships Beyond funding, strategic partnerships remain a key pillar of Hub71's value proposition, playing a critical role in helping startups gain traction. In 2024, startups signed 91 corporate deals with government and private sector partners worth $28 million, accelerating their ability to scale and commercialize their solutions. Programmes like the Regulatory Sandbox, co-developed with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Mobility, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), enabled startups to pilot cutting-edge technologies in sectors such as smart mobility, digital health, food innovation, and alternative proteins. Startup successes In a year marked by an evolving funding environment, Hub71 startups captured investor attention with landmark raises that signal both global relevance and real-world impact. FinTech startup FlapKap, raised $34 million in pre-Series A funding to expand its AI-driven lending solutions across the GCC. ClimateTech pioneer 44.01 secured $37 million in Series A funding to scale its CO₂ mineralisation technology that transforms captured emissions into rock, contributing to global decarbonisation. Meanwhile, HealthTech innovator BioSapien closed a $5.5 million pre-Series A round to accelerate clinical trials of its MediChip, a 3D-printed implant that delivers localized cancer treatment with minimal side effects. Today, Hub71 is home to a vibrant community of founders building high-impact startups that address global challenges and unlock new markets; driven by access to capital, expert support and sector-specific expertise to attract top talent and fuel Abu Dhabi's innovation agenda.
