Non-profit climate accelerator Subak has revealed it has started its new funding round and is aiming for £20million.
The capital acquired will be used to grow the accelerator to eight sites on six continents by 2025 and Subak’s grant technology platform.
Subak was launched last year by lead author of the UK climate change law, Baroness Bryony Worthington, along with Gi Fernando MBE. Subak is based in London and Australia.
Worthington said, “I helped create Subak to create a global ecosystem of organizations and individuals using data tools for climate solutions in the charitable and nonprofit sector.
“We see incredible untapped potential to fund and scale climate interventions that are impact-driven rather than profit-driven.”
Subak said each location, known as a node, will be self-contained and supported by local experts targeting issues in the region.
Worthington is supported by Amali de Alwis MBE, former Microsoft Managing Director for Startups UK and CEO of Code First Girls; Michelle You, co-founder of Songkick; and Dr. Jack Kelly, former machine learning engineer at Google DeepMind.
Climate technology has proven to be the fastest growing vertical in Europe.
“Equity finance in the climate sector is vital, but it cannot be the only option – we need a unified approach from the for-profit and non-profit worlds if we are to have a real impact on the crisis. change,” said Amali de Alwis MBE, CEO of Subak.
Also looking to make a difference to global health is Energy Impact Partners, which has received backing from Microsoft for its £337m energy fund.