ClimAct is a $1.5 million accelerator program for businesses in the climate tech sector that was recently formed by early-stage venture capital (VC) firm Merak Venture and Huddle, an accelerator-led fund. According to a statement from the company, ClimAct’s fund partners include Accel, Matrix Partners, Sequoia Capital, Aavishkar Capital, Lok Capital, Nexus Venture Partners, and Stellaris Venture Partners.
Pre-seed financing of $200,000 per firm is available to chosen businesses, with a potential follow-on investment of up to $1.5 million after the program. Applications for ClimAct are presently being accepted, and the program’s first cohort will be finished in June 2023. The four-month program will begin in February 2023. It will help early-stage climate-tech startups in India working in industries like agriculture waste, supply chain efficiency, mobility and transportation, climate finance, carbon accounting and sequestration, and digital solutions advance and receive funding.
Channel for pre-seed funding for early-stage startups, generating value from our partner network, and making it simple to access venture capital with a climate focus are also on the table. India will gain more momentum through ClimAct to decarbonize and hit its Net Zero carbon emissions target by 2070. To guarantee that the focus on ongoing decarbonization of the economy achieves traction, ClimAct will also provide selected enterprises the assistance of industry veterans, an expanded network for pilot opportunities, and customized credits of up to $500,000 across technology and business areas.
