Subak launches GBP20m fundraise to scale critical climate work worldwide
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Global climate tech accelerator Subak announces its latest funding round, targeting GBP20m.
Subak successfully launched its Australian hub last year, which now funds and scales climate startups and researchers across the APAC region. Subak’s data-focused not-for-profits all share a common goal – to accelerate climate action through openly sharing data to inform policy and influence consumer behaviour.
The global fundraiser will enable Subak to expand its success in Australia to a total of eight data-led climate centres, or ‘nodes’, across six continents by 2025. Each node will be self-sustaining and led by local experts focused on tackling the region’s most critical issues to create a cascading global impact.
It will also support Subak’s development of an innovative grant technology platform that will democratise access to climate funding around the world and allow funders to both directly and confidently invest in critical environmental projects.
Parallel to booming VC investment in climate tech, Subak is the first global not-for-profit accelerator that finds, funds and scales data-led not-for-profit climate startups. Its unique model offers a vital funding route to empower climate startups to scale their critical missions without pressure to deliver profit.
“There are very few challenges that are truly global by nature. Climate change is one of them. As we gather and openly share climate-related data in the data co-operative, we are able to inform public policy with the best evidence to support mass-market behaviour change in favour of the planet,” said Chris Wilson, Executive Director Subak Australia.
“Subak Australia has successfully found and funded critical climate change solutions that work regionally and globally. We are proud to serve as a blueprint for Subak’s continued global expansion, and wholeheartedly invite investors to support our journey.”
The organisation was launched in 2021 by Baroness Bryony Worthington, lead author of the UK’s Climate Change Act. With two hubs established in the UK and Australia and a global Data Catalogue (dubbed the ‘Google of climate data’) in operation, Subak is projected to fund and scale hundreds of data-led climate organisations and projects in the next five years.
“I helped set up Subak in order 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,” said Baroness Bryony Worthington, Co-Founder of Subak.
“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.”
Menchie Khairuddin is a writer Deputy Content Manager at Akolade and content producer for Third Sector News. She is passionate about social affairs specifically in mixed, multicultural heritage and not-for-profit organisations.
