Starshot Capital has raised $35 million to invest in climate-focused startups.
The firm was founded by Jeremy Brewer, who's worked at Google and Facebook, and Sam Levac-Levey, who spent time at Tesla and SpaceX.
But Brewer said these sectors account for only about 27% of global carbon emissions. Starshot sees opportunities to invest in industries that emit massive amounts of greenhouse gases and consume an abundance of natural resources. Brewer said Starshot is looking to invest in companies that offer "gigaton-scale solutions, that can increase their customers' profitability and revenue."
The duo still had to present something at their demo day in front of prominent early-stage investors. During the pandemic, Brewer and Levac-Levey also began building an online network for former employees at large tech and industrial companies who were interested in pivoting their careers to work on solving climate issues., which has now grown into an online community with tens of thousands of members on Slack. The group produces a climate careers newsletter and holds dozens of online and in-person events annually to help grow the green workforce.
Levac-Levey told CNBC that Starshot is especially interested in companies working to reduce the negative environmental impacts of food and agriculture, industrials and the "built environment" ranging from hospitals and homes and offices to airports and other facilities.
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