Total venture capital investment across all sectors, 2015-2025

Sources

IEA analysis based on data from Cleantech Group (2025) and Crunchbase (2025).

Notes

AI includes start-ups developing foundational models and AI-specific hardware, infrastructure and security systems. It does not include start-ups applying AI models in other sectors. The Energy deployers category includes energy start-ups that do not develop new technology but deploy certain established technologies.