The sustainability sector features a diverse group of companies tackling environmental issues. Among them, battery recycler Redwood Materials has reached a $6B valuation on $4.2B in funding.
The agriculture technology sub-sector is also prominent, with companies like Farmers Business Network reaching a $4B valuation. The list also includes international firms such as Indonesia's eFishery, valued at $1.3B.
Below is the full list of 16 Sustainability unicorn startups at this time.
Top 10 Most Valuable Sustainability Unicorns
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Get the Sheet for $50Redwood Materials recycles end-of-life lithium-ion batteries and remanufactures them into critical anode and cathode components for new electric vehicles. They are building a circular supply chain to provide a domestic source for these materials, ultimately lowering the cost and environmental footprint of battery production.
| Valuation | $6B (Joined July 2021) |
| Headquarters | Carson City, Nevada, United States |
| Year Founded | 2017 |
| Founders | JB Straubel |
| Funding Amount | $4.2B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series E |
| Top Investors | Valor Equity Partners, Eclipse Ventures, Amazon, Franklin Templeton, Fidelity |
Farmers Business Network built a digital platform that connects farmers, giving them a single place to buy supplies, access financing, and market their products. They use data analytics and the power of their network to help farmers reduce costs and increase the profitability of their operations.
| Valuation | $4B (Joined August 2020) |
| Headquarters | San Carlos, California, United States |
| Year Founded | 2014 |
| Founders | Amol Deshpande, Charles Baron |
| Funding Amount | $967.9M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Kleiner Perkins, BlackRock, Fidelity, GV, Temasek Holdings |
Inari is a biotechnology company that designs seeds to build a more nature-positive food system. They develop crops that require fewer resources like water and fertilizer, helping farmers increase yields while minimizing environmental impact.
| Valuation | $2.17B (Joined May 2021) |
| Headquarters | Cambridge, Massachusetts, United States |
| Year Founded | 2016 |
| Founders | David Berry, Ignacio Martinez, John Casey |
| Funding Amount | $753M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series G |
| Top Investors | Pavilion Capital, G Squared, Abu Dhabi Investment Authority, Acre Venture Partners, Flagship Pioneering |
Ascend Elements manufactures sustainable battery materials by recycling elements from discarded lithium-ion batteries. Their patented process creates a circular supply chain by transforming battery waste directly into new cathode materials for electric vehicles.
| Valuation | $2B (Joined September 2023) |
| Headquarters | Westborough, Massachusetts, United States |
| Year Founded | 2015 |
| Founders | Diran Apelian, Eric Gratz, Yan Wang |
| Funding Amount | $1.8B |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series D |
| Top Investors | Alumni Ventures, Hitachi Ventures, National Science Foundation, Temasek Holdings, TDK Ventures |
Perfect Day produces real dairy proteins that are nutritionally identical to those from cow's milk, but made without any animals. Food and beverage companies use their ingredients to create a new category of animal-free products that still deliver the taste and texture of traditional dairy.
| Valuation | $2B |
| Headquarters | Berkeley, California, United States |
| Year Founded | 2014 |
| Founders | Perumal Gandhi, Ryan Pandya |
| Funding Amount | $801.5M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series E |
| Top Investors | K5 Global, ICONIQ Capital, SOSV, Presight Capital, Temasek Holdings |
Nexii designs and manufactures high-performance building solutions that enable the rapid construction of sustainable and resilient buildings. Their system uses a proprietary material that allows for faster project completion with a significantly lower environmental impact compared to traditional methods.
| Valuation | $2B |
| Headquarters | Vancouver, British Columbia, Canada |
| Year Founded | 2019 |
| Founders | Ben Dombowsky, Michael Dombowsky, Stephen Sidwell |
| Funding Amount | $152.5M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Trane, Horizon Technology Finance, Honeywell, Ben Franklin Technology Partners of Northeastern Pennsylvania, Trinity Capital |
Apeel Sciences develops plant-derived technology to extend the shelf life of fresh produce. Their edible coating improves food quality and reduces waste from the farm all the way to the kitchen.
| Valuation | $2B (Joined May 2020) |
| Headquarters | Goleta, California, United States |
| Year Founded | 2012 |
| Founders | James Rogers |
| Funding Amount | $719.1M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Venture Round |
| Top Investors | International Finance Corporation, S2G Investments, Andreessen Horowitz, Rhapsody Venture Partners, Temasek Holdings |
eFishery created an integrated platform for aquaculture, giving fish and shrimp farmers tools like IoT-powered smart feeders and management software. They also provide farmers with direct access to financing and a marketplace, building a complete ecosystem to improve yields and sustainability.
| Valuation | $1.3B (Joined May 2023) |
| Headquarters | Bandung, Jawa Barat, Indonesia |
| Year Founded | 2013 |
| Founders | Chrisna Aditya, Gibran Huzaifah, Muhammad Ihsan Akhirulsyah |
| Funding Amount | $372.9M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series D |
| Top Investors | International Finance Corporation, 500 Global, Peak XV Partners, Endeavor Catalyst, Temasek Holdings |
Spiber creates a new class of materials called Brewed Protein by using microbial fermentation to process plant-based sugars. These proteins are designed as a sustainable alternative to conventional animal-based and synthetic materials used in industries like apparel and automotive.
| Valuation | $1.22B (Joined September 2021) |
| Headquarters | Tsuruoka, Yamagata, Japan |
| Year Founded | 2007 |
| Founders | Kazuhide Sekiyama, Sugahara Junichi |
| Funding Amount | $976.1M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | JAFCO, Baillie Gifford, Fidelity International, MUFG Bank, The Carlyle Group |
EcoVadis provides business sustainability ratings that help companies assess the environmental and social performance of their global supply chains. Their collaborative platform delivers scorecards and insights to drive improvements and reduce risk with procurement partners.
| Valuation | $1B (Joined June 2022) |
| Headquarters | Paris, Ile-de-France, France |
| Year Founded | 2007 |
| Founders | Frederic Trinel, Pierre Francois Thaler |
| Funding Amount | $735.8M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series C |
| Top Investors | Partech, General Atlantic, CVC Capital Partners, BlackRock, Astorg |
The Remaining 6 Sustainability Unicorns
The 10 most valuable companies are only part of the story. The next wave of startups has already raised a combined $2.5 billion, with most based in the United States.
They are tackling big challenges in areas like clean water, food production, and transportation. Below is a look at the other startups helping to build a more sustainable future.