Mainpartners

OtherImpactpartners

?dealroom.co

Dealroom.coistheforemostdataprovideronstartup,early-stageand

growthcompanyecosystemsinEuropeandaroundtheglobe.

Impcctcity

ImpactCityTheHagueisaleadingEuropeanecosystemfor

Knowledgepartners

organisationsthatcombine'doinggoodanddoingbusiness'.We

facilitateinnovativeentrepreneursinstartingandscalinguptheir

businesses.

Planet+

MicrosoftEntrepreneurshipforPositiveImpactprovidessupport

mission-drivencompaniesworkingtowardstheUNSDGs,helping

themtoexpandtheirbusinessesandamplifytheirinfluencethrough

carefullycraftedprograms.

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Foreword

“Fortenyears,ImpactFesthasbeentheplacewherethesupplyanddemandforimpactcapitalcometogether.Atthistenthedition,welookatglobaltrendsinimpactinvesting.Weseeadecadeintransition;from2015totoday.Andwelookahead:howistheinvestmentclimateevolving,andhowcanentrepreneursrespondtoit?

Overthepastdecade,thefieldofimpactandtheSustainableDevelopmentGoalshavechangedsignificantly.Around2015,mostimpactcapitalwasdirectedtowardgoalssuchasemissionreduction,carbonneutrality,andclimateaction,withastrongfocusonlong-termtransformation,innovation,andthefightagainstclimatechange.

Today,weincreasinglyviewsustainabilityandimpactthroughthelensofsecurity,resilience,andindependence.Risinggeopoliticaltensions,scarcerresources,andvolatilepriceshaveshiftedthisfocus.Thisshiftexposesdeepervulnerabilities:dependenceongovernmentsforenergy,food,andwater;growingpressureonsolidarity,equality,anddemocraticvalues;andincreasinguncertaintyanddivisioninhowsocietiesrespond.

Everyentrepreneurorprofessionalworkinginimpactrecognizesthisgrowingpressure.Whatoncewasanagendadrivenbyenvironmentalandsocialchallengesandinnovationisnowinseparablylinkedtoeconomicresilience,nationalsecurity,andcrisispreparedness.ThistrendisalsovisibleinthelatestfiguresfromtheStateofImpact,showingthatinvestmentsinsectorsandcompaniesworkingontheSustainableDevelopmentGoalsareagaindecliningthisyear,whilePeaceTechandDefenseTechstart-upsaregainingmomentum.

TheNetherlandsstillhasalltherightconditionstoplayaleadingroleinEuropeintechnologicalinnovationandimpact.AndTheHague,asthecityofpeaceandjustice,playsakeyroleinbuildingalivableandjustworld,anchoredinstrongnetworksandinstitutions.

AtImpactCityTheHague,wecontinuetofocusoncompaniesworkingonsustainableinnovation.Atthesametime,weareaddressingtoday?ssocietalchallengesintheareasofpeace,security,andnationalresilience.

IamproudoftheimpactecosystemthathasbeenbuiltoverthepasttenyearsinTheHaguewithmanypartnersandentrepreneurs,andIlookforwardwithconfidencetothenextdecade-inwhich,despitegrowingpressures,wewillcontinuetoinnovateanddevelopforabetterfuture.”

SaskiaBruines

AldermanforEconomicDevelopmentat

theCityofTheHague

dealroom.co

Page/4

Source:Dealroom.co

Keytakeaways

Adecadeinreview,adecadeahead

Thepastdecademarkedtheturningpointwhencleanenergyandelectrificationbecamebotheconomicallyviableandself-propelling.Solar,wind,andbattery

costsplummeted,makingrenewablescheaperthanfossilfuelsandenablingrecordinvestmentsofover$2trillionannuallyintheenergytransition.Electric

vehiclesrosefromnichetomainstream,whileoverthree-quartersoftheglobalenergysystembecametechnicallyelectrified.

Yet,decarbonizingthelast10–20%ofemissions

remainsamonumentalchallenge,requiring

breakthroughsincarbonremoval,greenfuels,and

heavyindustrytransformation.Lookingahead,the

nextdecadewillhingeonscalingthesetechnologies,

doublingannualcleanenergyinvestmentto$4.5

trillion,andchannelingfinancingmoreequitablytotheGlobalSouth.Digitaltools,fromAI-enabled

optimizationtoblockchain-basedcarbonmarkets,willredefinehowwemonitor,mitigate,andfinanceclimateaction.Thetransitionisnowunstoppable,but

whetheritwillbefastandfairenoughremainsthedefiningquestionofthedecadeahead.

Impactinvestinggrowslongtermbutfacesasharpfundingslowdownin2025

Overthepastdecade,impactcompanieshave

increasedinvalue28-fold,reachingatotalof$3.6trillion.ImpactVCfundingisprojectedtogrowthreefoldcomparedtotenyearsago,with2025

expectedtoreach$33billion,a24%decreasefrom2024.Thisyearhasalreadyfallenbehindallyearssince2019byVCfunding.In2025,Impactranksasthesixthmostfundedmajorsegment,showinga24%declinewhileglobalfundinggrows32%.

NorthAmericacurrentlyaccountsfor60%ofglobalimpactVCfunding,twicethatofEurope,whose

sharehasdroppedfroma40%peakin2023to28%thisyear.Sofar,eightnewimpactunicornshave

beencreatedin2025,bringingthecumulative

numberofimpactunicornsmintedsince2000toover300.Mostofthemintedunicornsthisyearare

developingcriticalDeepTechsuchasnuclearenergy,reusablerocketsandmetals.

圍

Capitalisconcentratingaround

technologieswithcross-industry

applications,whilesectors

addressingenvironmentalresilienceareseeingamoreselective

investmentlandscape

Foodsecuritysolutionsaresettoraiseabouthalfasmuchcapitalaslastyear($1.9Bvs$3.7B),evenasglobalpressuresmakethemincreasinglyvital.

Circularstartupsareexpectedtoattractonlya

fractionofpreviousfunding,whilesustainable

materialscontinuetoperformstrongly,enabledbyadvancesinAI-poweredmaterialsdiscovery,a

fieldthathasalreadyattractedover$1.1Bthisyear.

Notableroundshavealsogonetocompanies

strengtheningsupplychainsincriticalmaterialslikesteel,cement,andrareearths.Meanwhile,fundingforwater-relatedandblueeconomysolutionsis

revertingtopre-pandemiclevels,withunder$500Mandaround$1Bexpectedrespectively.

1Adecadeinreview,adecadeahead

2Investmentoverview

3Spotlightthemes

4Geographicanalysis

Page/5

5ImpactintheNetherlands

TechnologiesFromcleaninnovationtocriticalinfrastructure

Adecadeinreview

Cleanenergyandelectrificationisnowinmostcaseseconomically

beneficialandself-propelling

●Costofsolardown~77%,windinstallationdown~58%,batterycellpricesdown~84%inthepastdecade.Solarandwindarenowonaveragecheaperthanfossilfuels(bothinLCOEandmarginalcost),andmanufacturingcapacityinplaceisalreadyenoughtosurpassIEANetZeroOutlook.1

●Electricvehiclesmovedfrom2.5%to>20%globalsalesandstillgrowing35%inQ12025.NewEVsarenowonaveragecheaperintotalownershipcost(purchaseprice,fuel,maintenance)andapproachingpurchasepriceparity.2,1

●Over75%oftheglobalenergysystemcannowbeelectrified(buildings,mostoftransport,andhalfofindustry),comparedtolessthan25%backin20001

Adecadeahead

Somesolutionsstillneedtobescaledtodecarbonizethelast10%oftheenergysystemandtargetothersegments

●Carbonremovalcurrentcapacityis~0.01Gtperyear,someoutlookspredict5-10Gtrequired-scalingneededwouldbe500-1000in25years.4

●Potentialbreakthroughsinnuclearfusion,novelbatterymaterials,geothermal,mightacceleratedecarbonizationbutstillhighlyuncertain.

●Greenfuels:ordersofmagnitudescaleupofgreenhydrogen,SAF,ammoniaproductionisrequired,butelectrificationmightcutsomeofthatdemand.

●Somerecentestimates3claimAImightgenerateemissionsreductionof5-10%annuallyby2035,mostlyacrosspower,food,andmobility(e.g.gridmanagement,buildingenergyoptimization,precisionfarming,novelbatteries).Howeverdatacentersexpansionwillalsogenerateadditionalemissionswhicharehardtoestimate,andmoreimportantly“enabledemissions”inoptimizingfossilfuelextraction.5

●BeyondemissionsAIcanalsosupportbiodiversitytracking,disasterprevention,educationaccessibility,butsimultaneouslydestabilizesociety.

dealroom.co

Page/6

Source:Dealroomdeskresearch1)Ember“TheElectrotechRevolution”;2)IEA“GlobalEVOutlook2025”;3)Nature“Greenandintelligent:theroleofAIintheclimatetransition”;4)

/criteria/2025-edition5

)

/

dealroom.co

Page/7

Source:Dealroomdeskresearch1)BloombergNEF“EnergyTransitionInvestmentTrends2025”2)GoldmanSachs3)Bloomberg4)IEA,Worldenergyinvestmentreport2023

and20255)

/report/carbon-tokenization-market6

)BloombergNEF“Long-TermCarbonCreditSupplyOutlook2025”

CapitalFromprivatefinancetopublic–privatecoordination

Adecadeahead

Adecadeinreview

●Venturecapitalinvestmentgrewfrom$11Bin2015toaprojected$33Bin2025(+200%),thoughstillwellbelowthe$80–90Bannualpeakseenin2021–2022.

●BeyondVC(debt,grants,PE,projectfinance)expandedfrom$5Bin2016toanestimated$77Bin2025(+94%),reachingan

all-timehigh.

●Thenumberofuniqueinvestorsmorethantripled,from1.4kin2015to4.3kin2024(+200%).

●Beyondstartupslookingatallinfrastructureinvestments,globalinvestmentintheenergytransitionexceeded$2trillionfor

thefirsttimein2024($2.1T).Ithasgrown5.4xinthelastdecadeand11%in2024.Chinawasthemaindrivingforceandclean

energy,electrifiedtransport,andgridinfrastructureaccountedformostoftheinvestment.

●Greenbondshavesurpassed$2trillionincumulativeissuanceglobally2,whilesustainable,ESG-alignedassetssurpassed$30trillionAUMin2022intotal.3

●Tolimitwarmingto1.5°C,annualinvestmentincleanenergymustalmostdoublefromtoday?s$2.2trillionto$4.5trillionperyearby20304.

●Sectorslikesteel,cement,shippingandaviationwillneeddeepinvestmentintechnologieslikehydrogen,carboncapture,andelectrification.Someofthesearealreadybeingmodeledas

essentialbutcapital-intensivetransitions.

●Digitaltoolswillreshapehowwefinanceclimateaction.Carboncreditsandenvironmentalcertificates(RECs)aremovingonto

blockchaintokenizationtoimprovetransparencyandliquidity.Themarketforthesetokenizedassetsisstillnascent:itwas

estimatedaroundUSD4.1billionin20245.Meanwhile,forecastssuggestcarboncreditsupplycouldexpand20–35×by2050

fromtoday?slevels6.

●

●

●

●

Setbacks&Gaps

Adecadeinreview

GlobalCO2levelshaveonaverageincreasedby1.5%/yearsince1990.2024stillsawa1.3%increasesignalingtherisehasnotyetstopped,lessalonereversed.1

Fossilfuelsstillattractedover$1trillion2in2024,slightlybelowlevelsfromadecadeagoandroughlyonparwithpre-pandemicinvestment.Still,adecadeagofossilfuelswereattractingmoreinvestmentsthancleanenergy;today,theyattractonlyhalfas

much.

Theimpactsonnatureandcommunitiesareescalating.2024

wasthehottestyearonrecord,withglobaltemperatures

reaching1.5°Cabovepre-industriallevels.Tropicalforestlossreached6.7millionhectaresofprimaryforest,anewhighandnearlytwicethe2023rate.

Impactinvestingremainsuneven,heavilyconcentratedin

developedmarketswhiletheGlobalSouthstaysunderfunded.ProgresstowardtheSDGsisweak:overhalfofalltargetsshowlimitedprogress,andabout30%havestalledorreversed,withnoneontrackforfullachievementby2030.4

Fromtargetstoaccountability

Adecadeahead

●Sustainabilitydiscoursehasbecomepolarized.Alivableplanetisnowseenthroughpoliticallenses,withESGfacingstrong

backlash,especiallyondiversity,evenmorethanonenvironmentalissues.

●TheU.S.withdrawalfromtheParisAgreementandbroaderpushbackagainstclimatepoliciesillustratethisdivide.

●Meanwhile,armedconflictswithrisingciviliancasualtiesandnaturaldisastersdemandurgentattentionandfundingfor

resilientinfrastructureandpopulationdisplacement.216

million6peoplecouldbeinternallydisplacedby2050duetoslow-onsetclimateimpacts,ifadaptationisinsu?icient.

●Toooften,sustainabilityhasturnedintoboxticking,ratherthanfocusingonwhattrulymatters.Thechallengeremainstomovebeyondcomplianceandmakesustainabilityagenuinedriver.

●Atthesametime,over-relianceonunproventechnologies,

suchasfusionorlarge-scalecarbonremoval,addsnewlayersofuncertainty.

dealroom.co

Page/8

Source:Dealroomdeskresearch1)IEA“EDGARreport2025”;2)IEA,20243)

WorldResourcesInstitute

4)UN?sSDGProgressreport20252)1)BloombergNEF“EnergyTransitionInvestmentTrends2025”3)PotsdamInstituteforClimateImpactResearch(PIK)“2025PlanetaryHealthCheck”5)InstituteforEconomicsandPeace,20206)

EuropeanParliament

1Adecadeinreview,adecadeahead

2Investmentoverview

3Spotlightthemes

4Geographicanalysis

Page/9

5ImpactintheNetherlands

“Impactinnovationhasgrownfromanemergingtrendintoacorepillaroftheglobaleconomy,evenasfundingadjuststoamoreselectiveandmaturephase.Thisevolutionsignalsanew

chapterforfoundersbuildingwithpurpose.

We?rewitnessinganewgenerationofentrepreneurswhodeeply

understandtheurgencyofthechallengesweface—andwhoare

determinedtocreatelastingpositivechangethroughinnovation.AtMicrosoft?sEntrepreneurshipforPositiveImpact,webelievethatbyworkinghandinhandwithinvestors,andbyharnessingthe

powerofAIresponsibly,wecanempowertheseimpact-drivenfounderstoinnovatewithpurposeandscalewithconfidence.

AnthonyVirapin

WorldwideLeaderat

Together,wehelpthemleveragetechnologytoassisttheirgrowth,acceleratetheirimpact,andmakearealdi?erenceglobally.”

Page/10

dealroom.co

Page/11

Source:Dealroom.co;Sumofthevaluationsofstartupsfoundedafter1990.UsingestimatedvaluationsbasedonmostrecentVCrounds,publicmarketsandpubliclydisclosedvaluationsasofOctober2025

Impact

companieshavegrown28xin

valueoverthepastdecade,

nowworth$3.6T

EnterprisevalueofImpactStartupsperlaunchyearcohort

?viewonline

▊1990-1995▊1995-2000▊2000-2005▊2005-2010▊2010-2015▊2015-2020▊2020-2025

dealroom.co

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Source:Dealroom.co

DataasofOctober2025

Comparedtoadecadeago,ImpactVC

fundingisprojectedtogrow3x

But2025?s

projected$33Bvaluemarksa

further24%dropfromthe

previousyear

Venturecapitalinvestmentintoglobalimpactstartups

?viewonline

▊$0–1m(pre-seed)▊$1–4m(seed)▊$4–15m(seriesA)▊$15–40m(seriesB)▊$40–100m(seriesC)▊$100–250m

(megarounds)▊$250m+(mega+)▊Projection

$33B

dealroom.co

Page/13

Source:Dealroom.co

DataasofOctober20th2025

2025islaggingbehindallother

Venturecapitalinvestmentintoglobalimpactstartupspermonth

?viewonline

yearssince2019bymonthlyVCinvestment

dealroom.co

Page/14

Source:Dealroom.co;Growthcomputedcomparing2024andprojectionof2025valuesatyearsendfromOctober2025.Someindustriesoverlap,forinstancefundingofsomeenergycompanieswillbeunderimpactaswellwhiledeeptechincorporatesmostcoreaianddefence.Healthtechexcludeslifesciences,coversmedicaldevicesandhealthplatforms.

In2025,Impactisthe6thmostfundedtopsegmentbutshowsasharperdeclinethanallothers,whilemostalignwithglobalgrowth

TopIndustriesbyVCFunding

+32%

Averageglobalgrowth

dealroom.co

Page/15

Source:Dealroom.co

Thisyear,NorthAmericahasalreadyraised2ximpactVCfundingofEuropemakingup60%ofglobalimpactfundingsofar.Europeistakingincreasinglylessspaceontheglobalstage,downfromits40%peakin2023.

TopRegionsbyImpactVCFunding

?viewonline

dealroom.co

Page/16

Source:Dealroom.co;DataasofOctober2025

Viewall?

Over300ImpactcompanieshavereachedUnicornstatussince20008weremintedin2025sofar

Segment

LaunchYear

Location

Unicornmintinground

303

gecko

meompary

Cumulativenumberofglobalimpactunicorns

NuclearFusion

2018

Harvard,US

$1.8BSeriesBbyTigerglobalmanagement@$9B

Telemedicine

dietitians

2021

San

Francisco,US

$70MSeriesBbyAtomico,IndexVentures…@$1B

Renewable

energysupplier

2022

London,UK

$10MEarlyVCbyBalderton

CapitalandLowercarbon@$1B

Infrastructure

inspection

robots

2013

Pittsburgh,

US

$125MSeriesDbyYC,FoundersFund…@$1.3B

Nuclearfission

2013

Oakville,Canada

$230MSPACIPObyHCMIIAcquisitionGroup@$1.2B

Critical

metals

producer

2011

Vancouver,

Canada

Publicmarketcapof$1.57B

Homebattery

systems

2023

Austin,US

$1BSeriesCbyLightspeed,

ThriveCapital,CapitalG…@$3B

Reusable

rockets

2019

Seattle,US

$510MSeriesDbyYCombinator,NFX,ToyotaVentures…@$2B

dealroom.co

Page/17

Source:Dealroom.co

ClimateAction

andA?ordable&CleanEnergyarebyfarthemostfunded

Sustainable

DevelopmentGoals

Solutionslikenuclear,

batteriesorrenewablesscalewellandfittheVCmodel,

unlikesolutionsundergoalssuchasPartnershipsorPeace&Justice,whichrelymoreonpolicyandpublicfunding

Viewonline?

GlobalVCfundingperSustainableDevelopmentGoal(2019to2025YTD)

1Adecadeinreview,adecadeahead

2Investmentoverview

3Spotlightthemes

Page/18

4Geographicanalysis

5ImpactintheNetherlands

Foodsecurity-ZeroHunger(#2)

Foodsecuritysolutionsaresettoraiseabouthalfthecapitaloflastyear,evenastheybecomeincreasinglycriticalamidmountingstrainonglobalsystems

VCinvestmentinfoodxclimatestartups

▊$0–1m(pre-seed)▊$1–4m(seed)▊$4–15m(seriesA)▊$15–40m(seriesB)▊

$40–100m(seriesC)▊$100–250m(megarounds)▊$250m+(mega+)▊Projection

Globalfoodsystemsareundergrowingstrain,shapedbytheripplee?ectsofclimatechange,geopoliticalconflicts,andtradebarrierssuchastari?sandwar-relateddisruptions.Thesepressuresare

makingithardertosecurereliable,a?ordable,andsustainablefood

resourcesworldwide.

Inresponse,innovationisemergingacrossseveralkeyareas:

alternativeproteins(

Plantedfoods

,

Meati

)arereducingrelianceonresource-intensivelivestock,whilesolutionstacklingfoodwaste(

Mill

,

Choco

)helpextendthevalueofexistingproduction.Advancesinalternativeingredients(

FoodBrewer

,

Missionbarns

)are

providingmoreresilientandscalableoptionsforglobaldiets.

Meanwhile,weatherpredictionandmonitoringtools(

Cordulus

,

Sencrop

)aregivingfarmerscriticalinsightstobettermanagerisk,andcropmodificationtechnologies(

TropicBiosciences

,

Hudson

RiverBiotechnology

)areenhancingresilienceagainstshifting

climatesandsoilconditions.

Together,theseapplicationsandthestartupsdrivingthemarereshapinghowsocietiesadapttothefutureoffoodsecurity.

dealroom.co

Page/19

Source:Dealroom.co;DataasofSeptember2025

“Foodsecurityisaboutpeaceandjustice:withoutafairandstablefoodsystem,nosocietycanbe

resilient.It?snotjustatechnicalissue,butaboveallaquestionofvalues.

InTheHague,wearebuildingfoodchainsthatsharevalue,buildstrength,andfeedthefuture.Aresilientsocietystartswithafoodsystemthatisnotdrivenbyshort-termgainsorheldtogetherbyfragilelinksbutbuilton

sharedvalueandtheawarenessofourinterdependence.Today,climatechange,geopoliticsandtradebarriersexposejusthowvulnerablethat

systemreallyis.Therealsolutionisnotmoreisolatedinnovation,but

redefiningvalueacrosstheentirechain—fromgrowertoconsumer,fromsoiltobusinessmodel.

InTheHague,weareputtingthisintopractice.ThroughtheTotalValueFactoryandtheValueshipmodel,weshowhowchainpartnersalign

aroundsharedgoalsforimpact,inclusionandeconomicstrength.By

StefanBaecke

Founderat

increasingvalueforeveryoneinthechain,westrengthenthechainitself.Thatisfoodsecurityinaction:peace,justice—andthefutureonour

plate.”

Page/20

Circulareconomy-Responsibleconsumptionandproduction(#12)

Circularstartupsareexpectedtoraisejustunder$300Min2025,afractionofpreviouslevels

VCinvestmentincirculareconomystartups*Topcirculareconomyroundsin2025

?viewonline

▊$0–1m(pre-seed)▊$1–4m(seed)▊$4–15m(seriesA)▊$15–40m(seriesB)▊

StartupFundingroundFocus

$40–100m(seriesC)▊$100–250m(megarounds)▊$250m+(mega+)▊Projection

Archive

ZENSIN

$40MEarlyVC

$30.0mSERIESB

$30.0mSERIESA

$25.0mLATEVC

$18.0mSERIESB

€15.0mEARLYVC

Enablerforbusinesses

Enablerforbusinesses

Resellingrefurbishedproducts

Circulardesigning

Resourcerecovery

Second-hand

dealroom.co

Source:Dealroom.co;DataasofSeptember2025

Page/21

*Fundingamountsbasedonaggregatesofcompaniesmappedinthe

Circularmanufacturedgoodslandscape

andisnotrepresentativeofthefullCirculareconomysector,itfocusesonconsumergoodsandexcludessegmentssuchasEVbatteryrecycling.Foramorecompletequeryfollow

thislink.

dealroom.co

Page/22

Source:Dealroom.co;DataasofSeptember2025

Sustainablematerials-Industryinnovationandinfrastructure(#9)

Fundingfor

sustainable

materialshasbeenstrongsince2021

Thisyear,severalcompanies

addressingsupplychain

vulnerabilitiesincritical

materials-suchassteel(

Boston

Metal

),rareearths(

Vulcan

Elements

),andcement(

Terra

CO2

)haveraisedsignificant

funding.

Akeyenablergainingstrong

tractionisAI-drivenmaterialsdiscovery,withstartupsinthisspacealoneraising

$1.1B

thisyear(e.g.,

CuspAI

,

RadicalAI

).

Thesetechnologiescanhavebroadapplicationsacross

industriesincluding

automotive,semiconductors,biomedical,construction,andaerospace/defence.

VCinvestmentinsustainablematerialsstartups

▊$0–1m(pre-seed)▊$1–4m(seed)▊$4–15m(seriesA)▊$15–40m(seriesB)▊$40–100m(seriesC)▊$100–250m

(megarounds)▊$250m+(mega+)▊Projection

600+GlobalAdvancedMaterials

?Explorethelandscape

Page/23

?Metal&Steel

?Miningtechnologies

Page/24

WaterTech-Cleanwaterandsanitation(#6)

Solutionsaddressingwater-relateddisasters,monitoringandimprovingwaterquality,aswellasstoringandmanagingresources,areexpectedtoraiselessthan$500Mthisyear

Solutionsfordroughts

?90+desalinationstartups

VCinvestmentinwatertechstartup

▊Watertreatment▊Waterresourcemanagement▊Watermonitoring

▊Otherwatertech▊Projection

IrrigationandcropmanagementDesalination

?40+floodmanagementstartups

Solutionsforfloods

Riskmodeling

Realtimehazardmappingandresponse

?Explorearticle

dealroom.co

Page/25

Source:Dealroom.co

DataasofSeptember2025

“AtRabobank,waterisattheheartofourbusiness.

Accesstocleanwaterisessentialnotonlyforthefoodand

agriculturesector,butalsotheenergytransitionsector.Aswefaceglobalchallenges–whetheritistoomuch,toolittle,orpoor

qualityofwater–innovativewatertechnology,alongsidetherightregulationsandawarenessaboutthevalueofwater,iskeyto

findingsustainablesolutions.Costavoidancewillbeanimportantdriverofinvestmentinnewtechnologiesandservices.Itwillcreateopportunitiesacrossthemunicipal,industrialandagricultural

watermarkets.

AtRabobankarecommittedtocontributingtothesee?ortsby

Margotd'Ancona-Roesink

HeadofRaboWaterat

furtherexpandingournetworkandknowledgebaseinthewatertechnologysectoranddevelopinginnovatefinancesolutionsthatdrivethemarkettowardswaterreuseandresilience.”

Page/26

600+WaterTech

?Explorethelandscape

Page/27

Goal#14:LifeBelowWaterisoneofthemostimportantbutleastperformingSDG,itshowsthehighestregressionofthegoalsbehindonlyZerohunger

Insightsfromthe2025UN?sWorldOceanConferenceheldinNice,France:ProgressassessmentfortheUN?sGoal#14basedonassessedtargets

Theocean?svitalclimateroleis

under-protected.Despiteproducing50%ofouroxygen,absorbing~30%ofCO?,andcapturing90%ofexcessheat,only8.4%ofoceanareashaveany

protection-andjust2.7%aree?ectivelysafeguarded.

The30%protectiontargetby2030hingesonfullratificationandenforcementoftheBBNJAgreement(HighSeasTreaty).This

September,thethresholdof60

ratificationswasreached,allowingthetreatytoenterintoforce.Additionally,morethan30nationsarecurrently

supportingamoratoriumondeep-seamining.

Biodiversityisatrisk.Coralreefs,whichshelteraquarterofmarinespecies,facecollapseevenundermoderatewarmingscenarios.

At1.5°Cofwarming,70–90%ofreefs

areprojectedtovanish,andat2°Ctheyriskcompletedie-o?,signalingcascadinglossesacrossmarineecosystems.

Fundingremainsamassivebottleneck.

Just$10Bhasbeencommittedthrough2029,farbelowthe$175BannuallytheUNsaysisneeded.Meanwhile,lessthan1%ofdevelopmentfinancegoestooceanprotection.

Keysystem-buildinge?ortsareadvancing.TheWorldTradeOrganization?spushto

eliminate$22Binharmfulfishing

subsidiesgainedsupportfromover100countries.TheWorldMeteorological

Organizationannounced10,000

newobservationshipstostrengthenoceanmonitoring.

20%

10%

30%

40%

Ontrackortargetmet

Moderateprogress

MarginalProgress

Stagnation

Regression

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Source:Dealroom.co

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Page/29

Source:Dealroom.co;DataasofSeptember2025

Sustainablebluetech-Lifebelowwater(#14)

Sustainablebluetechstartupsprojectedtoraisecloseto$1Bin2025,revertingto2020levels.Toproundsinsegmentslikeoceandataandzeroemissionshi