Mapping the Future: The 2026 Latam Climate Innovation Startup Radar
By Gabriel Estrada and Erick González
1. Key Takeaways
1. Climate risk is no longer a future risk for Latin America. It is the present. The region lost an estimated US$19.2 billion to extreme weather in 2024 alone, with less than 5% insured.
2. The ecosystem has matured significantly, now spanning five verticals, with Climate Risk Solutions introduced as a standalone category for the first time.
3. AI and biotechnology have emerged as the twin backbones of Latin American climate innovation. Powered by Latin America’s biodiversity and rapid AI adoption, these technologies are shaping the region’s leading startups.
4. Climate finance still does not match the region's risk. Latin America receives only 6% of global climate finance, and 87% of that targets mitigation over adaptation.
5. Capital remains scarce yet increasingly strategic. High-profile funding rounds, including Mombak’s Series A and partnership with Google, alongside Puna Bio’s raise backed by the Bill & Melinda Gates Foundation, demonstrate growing institutional validation.
2. The Climate Imperative for Latin America
In 2025, the region experienced one of its most extreme climate years on record: record heat waves, prolonged droughts, destructive floods, and accelerating glacier retreat (WMO, 2025). Temperatures surpassed 40°C in multiple countries, and heat-related deaths now reach an estimated 13,000 annually across 17 countries (UN News, 2026). The economic toll is mounting too: heat-related productivity losses reached US$52 billion in 2024, while extreme weather events caused US$19.2 billion in losses that year, with less than 5% insured (Lancet Countdown, 2025).
Natural ecosystems are under similar strain. Brazil recorded the highest primary forest loss globally in 2025 (WRI, 2026), and parts of the eastern Amazon have shifted from absorbing more carbon than they emit to releasing more than they absorb, weakening one of the planet's most important climate defenses (Lancet Countdown, 2025). In the Andes, accelerating glacier retreat threatens water security for roughly 90 million people who depend on these reserves for drinking water, agriculture, and hydropower (WMO, 2025).
Yet Latin America's climate story is not defined by vulnerability alone. The region is home to 40% of global biodiversity and 6 of the world's 17 megadiverse countries, holds approximately 34% of the world's freshwater resources, and sits atop some of the planet's most abundant renewable energy potential, from the solar irradiation of the Atacama Desert and the wind corridors of Patagonia and northeast Brazil to significant geothermal resources along the Pacific Ring of Fire (CAF, 2024; FAO, 2026). It is also a global agricultural powerhouse, producing a substantial share of the world's soybeans, coffee, and sugarcane. This combination of biodiversity, natural resources, and entrepreneurial talent is what makes climate innovation one of the most compelling opportunities in Latin America today.
3. The 2026 Latam Climate Innovation Startup Radar
At Dalus Capital, we have tracked, mapped, and invested in Latin America's climate innovation ecosystem since its early stages. The 2026 edition of our radar maps 483 startups across five verticals:
AgTech & FoodTech,
Climate Risk Solutions,
Decarbonization & Energy,
Mobility, and
Clean & Circular Economy.
It introduces Climate Risk Solutions as a new, independent category for the first time, reflecting the growing importance of technologies that help organizations anticipate and adapt to climate-related risks.
Dalus Capital is an investor in several companies featured in this radar, including Alkemio, Energryn, Enerlink, Galgo, Metabix, Puna Bio, Reuse, and Satellites on Fire.
These are curated highlights from the radar, illustrative rather than exhaustive. You can find the complete database with all the mapped startups at the following link:
Startups Distribution by Country and Verticals
Chart reflects sub-sector detail within the five core verticals (e.g., AgTech and FoodTech, Decarbonization and Energy, as well as Clean and Circular Economy are shown separately here for granularity).
Mapping 483 startups across Latin America, the 2026 Latam Climate Innovation Startup Radar showcases a specialized and geographically expanding ecosystem. Main hubs like Mexico (138 startups), Argentina (86), Brazil (83), and Chile (82) continue to lead, but climate entrepreneurship is gaining traction throughout all major markets in the region.
From a sectoral perspective, AgTech represents the largest segment with 123 startups, underscoring Latin America's crucial role in global food systems, followed by Circular Economy (94), Energy (69), and Decarbonization (55). Additionally, the emergence of Climate Risk Solutions as a distinct vertical with 32 companies reflects a growing focus toward adaptation technologies, which are becoming just as vital as emissions reduction in addressing the region's climate vulnerabilities.
A. AgTech & FoodTech
Latin America produces roughly 14% of global agricultural output and holds an outsized share of the world's arable land and biodiversity, while also facing significant exposure to climate related agricultural risk through shifting rainfall, soil degradation, and extreme heat (FAO, 2024; Lancet Countdown, 2025). This combination of scale and vulnerability makes the vertical one of the region's most strategically important.
The most significant trend reshaping the category is the rise of agricultural biotechnology. Puna Bio develops biofertilizers and biostimulants from extremophile bacteria collected in the high altitude deserts of the Argentine Puna, improving yields in soils under climate stress. Botanical Solutions is developing plant based crop protection products as alternatives to synthetic agrochemicals, while PhageLab applies bacteriophage technology to combat bacterial infections in crops and livestock through highly targeted biological interventions. At the farm level, Solinftec combines artificial intelligence, real time monitoring, and autonomous operations to improve productivity across some of the region's largest agricultural operations.
Innovation is also expanding into animal health and food systems more broadly. metaBIX has developed an integrated AI and biosensing platform capable of detecting emerging livestock pathogens up to two weeks before outbreaks occur, helping producers reduce antibiotic use and prevent losses. In FoodTech, NotCo uses proprietary AI to develop plant based alternatives that replicate the taste and nutritional profile of animal products, Aravita applies AI powered demand forecasting to help retailers reduce food waste, and Kool Farming builds value chains that connect regenerative livestock producers directly with conscious consumers, transforming on farm practices into verifiable data to ensure transparency and traceability from farm to table.
B. Climate Risk Solutions
For the first time, the 2026 radar introduces Climate Risk Solutions as a standalone vertical, reflecting a broader shift across climate innovation. While climate technologies have traditionally focused on reducing emissions, a growing share of innovation is now directed toward helping businesses, communities, and governments adapt to the physical impacts of climate change. The rationale is compelling: Latin America receives only 6% of global climate finance, and 87% of that capital targets mitigation despite the region being among the world's most climate-vulnerable (CPI, 2026).
Satellites on Fire uses artificial intelligence, satellite imagery, and fire propagation models to detect wildfires significantly faster than traditional monitoring systems, supporting responses to more than 600 wildfires in 2025 alone, and is now developing a parametric wildfire insurance product in partnership with Aon. Raincoat, founded in Puerto Rico after Hurricane Maria, has built automated infrastructure for parametric climate insurance that enables near instant payouts following qualifying disaster events, while Suyana applies a similar model to smallholder farmers and rural communities across the Andes.
A growing number of companies are also building the intelligence layer that supports adaptation decisions. Celeste translates climate and hydrological data into operational insights for businesses and insurers, Ainwater helps organizations monitor water related risks through real time analytics, MeteoIA applies machine learning to deliver hyperlocal climate forecasting, and BloomAlert develops early warning systems that help agricultural producers anticipate extreme weather before losses occur.
C. Decarbonization & Energy
Latin America already derives roughly 65% of its electricity from renewable sources, primarily hydropower and increasingly solar and wind (Rathore, 2026). Yet the energy transition remains incomplete, and startups in this vertical are increasingly focused on the infrastructure, software, and intelligence layers required to manage a more decentralized and electrified economy.
Bia Energy and SEOS enable commercial and industrial customers to actively manage energy usage and reduce costs through data driven platforms, while Hybrico Energy expands access to reliable clean energy in rural, agricultural, and weak grid environments that have historically been underserved. Enlight addresses energy efficiency, an often overlooked lever for reducing emissions across the region's growing urban centers.
Beyond energy management, a growing group of startups is building the infrastructure required for carbon markets and supply chain decarbonization. Bono is developing digital tools for the generation and commercialization of carbon credits, Ecotrace enables traceability across agricultural and forestry supply chains to help exporters comply with sustainability requirements, and re.green develops and manages large-scale forest restoration projects across the Amazon and Atlantic Forest, generating high-integrity carbon removal credits for corporate buyers.
D. Mobility
Latin America's mobility challenge looks very different from that of Europe or North America. Rather than focusing primarily on passenger electric vehicles, much of the region's innovation is directed toward motorcycles, commercial fleets, and last mile logistics, segments that play a far more central role in everyday economic activity. Brazil alone has more than 29 million registered motorcycles, the primary mode of transport for millions of workers and delivery riders.
Vammo is accelerating electric motorcycle adoption through battery swapping networks that eliminate charging downtime, while Galgo combines vehicle access and financial services to expand mobility options across Spanish speaking Latin America, increasingly incorporating electric vehicles into its offering. Enerlink provides the software layer that allows businesses to manage charging networks and optimize fleet energy consumption in real time.
Beyond electrification, startups are improving the efficiency and accessibility of transportation more broadly. Kolors expands access to affordable intercity transportation through a technology enabled bus network, GoPass builds multimodal mobility infrastructure that integrates public transportation, Moova and SimpliRoute use route optimization and artificial intelligence to reduce delivery times and emissions, and TripWip operates a peer to peer car rental platform that connects vehicle owners with renters quickly and without bureaucracy.
E. Clean & Circular Economy
This vertical has matured significantly, expanding from recycling and packaging into a broader industrial transformation agenda encompassing advanced materials, clean chemistry, and resource efficiency. Alkemio has developed a modular refining system that uses organic materials to process rare earth minerals without toxic solvents, reducing emissions by more than 70% and lowering capital expenditures by up to 80% compared to conventional methods.
A growing number of startups are rethinking the materials that underpin modern industry. Giraffe Bio AI engineered biomolecular reagents that improve the efficiency and sustainability of critical mineral extraction, Strong by Form has created high performance timber biocomposites capable of replacing steel and concrete in construction, and Green Bricks transforms industrial waste and agricultural residues into lower carbon construction materials.
Circular economy infrastructure continues to evolve as well. Eureciclo helps brands comply with extended producer responsibility regulations by connecting them with certified recyclers, Tais focuses on waste traceability and secondary material recovery, and Bioplaster is a biotech and nanomaterials company that has developed plastic substitute products based on the processing of sargassum. In consumer electronics, Reuse operates certified resale and refurbishment platforms for smartphones and devices, Reuse across Mexico, Chile, and Peru and Trocafone in Brazil, together building the circular electronics infrastructure the region needs.
4. Macro Trends Shaping the Next Wave of Climate Innovation
The 2026 radar reflects not just which companies exist today, but which forces are shaping the ecosystem of tomorrow. Five macro trends stand out as particularly consequential for Latin America's climate innovation landscape.
Trend #1: AI Is No Longer a Feature, It Is the Foundation
Artificial intelligence has moved from product differentiator to foundational technology across climate tech, because many of the region's hardest climate problems depend on processing complex environmental data in real time. The global climate tech market is projected to grow to US$98 billion by 2030, with AI based segments such as climate modeling and weather forecasting growing even faster (Research and Markets, 2026; Fundamental Business Insights, 2025; Transpire Insight, 2026).
Several forces are accelerating this shift:
Data availability: satellite, IoT, and meteorological datasets generating environmental data that only AI can process at scale
Cost reduction: cloud computing and open source frameworks lowering the cost of building and deploying models
Problem complexity: climate challenges are multivariable and real time, well suited to AI's pattern recognition strengths
Investor appetite: In Latin America, AI startups already represent 45% of emerging technology companies and attract 60% of seed funding (Linux Foundation, 2025)
The leading companies identified in our radar, spanning livestock health, wildfire detection, supply chain verification, and precision agriculture, all share a common approach: they combine proprietary datasets with custom AI models to solve complex real world challenges.
Trend #2: Adaptation Is Becoming Investable
The historical divide between adaptation and mitigation is narrowing. While venture capital has traditionally gravitated toward mitigation, adaptation is emerging as a significant investment frontier. This shift is particularly evident in the global parametric insurance sector, which in 2026 was valued at US$22 billion. In Latin America, the financial discrepancy is acute; despite an annual requirement of US$18 billion for adaptation, the region currently captures only 6% of global climate funding, most of which remains concentrated on mitigation efforts (IDB Invest, 2023).
Some key drivers are converting this gap into a commercial opportunity:
Escalating losses: more frequent, severe weather events driving demand for risk protection across governments, corporates, and farmers
Data maturation: satellite monitoring and AI risk modeling now make accurate, automated insurance products possible
Regulatory pressure: climate risk disclosure is shifting from optional to essential for banks, insurers, and listed companies
Visibility: events like Hurricane Melissa, which destroyed 41% of Jamaica's GDP in 2025, make the cost of inaction impossible to ignore (UN News, 2026)
The companies mapped under Climate Risk Solutions in the 2026 radar, from parametric insurance to water risk analytics, illustrate how adaptation is evolving into a scalable commercial market rather than a development finance afterthought.
Trend #3: Industrial Decarbonization Opens Up in the Region
Decarbonizing heavy industry (including steel, cement, and agrifood processing) is one of the most formidable hurdles in the global climate transition, as these sectors cannot rely on electrification alone. In Latin America, this challenge is unique; more than 50% of regional greenhouse gas emissions stem from agriculture, forestry, and land use (AFOLU) rather than heavy industry or energy. This landscape creates a strategic opening for technologies focused on measuring and mitigating emissions across intricate value chains.
Several critical factors are fueling this commercial urgency:
Stricter Export Requirements: Regulations like the EU Deforestation Regulation (EUDR) and Carbon Border Adjustment Mechanism (CBAM) necessitate verified, deforestation-free supply chains.
Evolving Financial Standards: Disclosure of climate-related risks is becoming a standard component of corporate due diligence and institutional lending.
Corporate Net-Zero Targets: Multinational corporations are facing 2030 deadlines for Scope 3 commitments that heavily involve their Latin American operations.
Policy Alignment: Regional governments are increasingly linking climate action with broader economic competitiveness.
Ultimately, the startups developing supply chain traceability, cleaner industrial methods, and carbon market infrastructure are shifting the focus from high capital expenditure to innovative software and data-driven solutions.
Trend #4: Nature Is Becoming the Technology
A primary trend highlighted in the 2026 radar is the increasing sophistication of startups utilizing biological systems as foundational technology platforms. As Mustafa Suleyman argues in The Coming Wave, AI and synthetic biology represent the two general-purpose technologies defining this era, and Latin America's biotech startups, echoing the AI-driven platforms also discussed in this report, are proof that the region is building at the frontier of both. By leveraging microbes, biomaterials, and plant compounds, these ventures are addressing challenges once dominated by petroleum-based materials or synthetic chemicals. This shift is supported by significant market momentum as Latin America's biopesticides market is forecasted to reach US$10.66 billion by 2034 (Market Data Forecast, 2026).
This expansion is being propelled by several key structural forces:
Food demand: rising global population is putting pressure to improve productivity per hectare
Consumer pull: growing demand for residue-free, sustainable produce across retail and export markets
Technology: precision agriculture is closing the efficacy gap with synthetic alternatives
Regulation: governments across the region are creating more favorable approval pathways for biological inputs (REACH24H, 2026)
Latin America’s rich biodiversity gives its biotechnology entrepreneurs a unique structural advantage, leveraging the vast genetic and biological resources of the Amazon, the Andes, the Cerrado, and Patagonia. This competitive edge is increasingly attracting international partnerships and global investment capital.
Trend #5: Climate Infrastructure Software Becomes the Most Scalable Bet
A uniform trend is evident across the five 2026 radar verticals: the highest scalability is achieved by climate solutions that integrate industrial, biological, or physical foundations with an AI and software intelligence layer to drive efficiency. Market projections reflect this shift, with decarbonization software expected to reach US$56 billion globally by 2032 and carbon analytics AI forecast to grow to US$9.2 billion by 2030 (Research and Markets, 2026).
Several core factors underpin the emergence of software as the region's primary investment archetype:
Capital efficiency: software can be built and scaled with the venture capital volumes available locally, unlike gigafactories or utility scale infrastructure
Recurring revenue: SaaS models generate the predictable revenue institutional investors require
Regulatory tailwinds: mandatory emissions reporting and supply chain due diligence create non discretionary demand
Cross border scalability: a solution built for one market can be replicated regionally and globally at marginal cost
In the current Latin American landscape, the strength of a climate business is increasingly measured by its data sovereignty and decision-support capabilities rather than its ownership of physical infrastructure.
5. The Investment & Funding Landscape for Climate Innovation in Latin America
While capital is increasingly flowing into Latin American climate innovation, the region continues to face substantial funding deficits. To properly evaluate the current ecosystem's opportunities and limitations, it is essential to analyze how climate finance is distributed across various channels, ranging from venture capital to multilateral organizations.
Meeting Paris Agreement climate commitments requires Latin America to secure annual investments between 3.7% and 4.9% of its regional GDP through 2030 (ECLAC, 2023). These funds are essential for a wide range of initiatives, from coastal adaptation to the energy transition. However, current financial flows are insufficient and imbalanced, favoring mitigation over adaptation and prioritizing energy over the agriculture, forestry, and land use sectors—the primary sources of regional emissions. Addressing these deficiencies demands a surge in capital, specifically directed toward the startup ecosystem that facilitates systemic transformation.
Venture Capital for Climate: Small Share, Outsized Strategic Role
In 2025, Latin America’s venture capital ecosystem deployed US$4.1 billion across 681 transactions, representing a 13.8% year over year increase (Cuantico VP, 2026). Climate startups accounted for 10.0% of all venture deals and attracted 10.9% of total capital invested. After two consecutive years of contraction, ClimateTech funding rebounded sharply from US$211 million in 2024 to US$447 million in 2025, more than doubling year over year (PitchBook, 2026). Notably, this recovery occurred despite deal activity remaining relatively stable, with 68 transactions in 2025 compared to 71 the previous year, indicating that investors are increasingly concentrating capital in fewer, larger rounds. This trend is further reflected in the average ticket size, which grew from US$3.0 million in 2020 to US$6.6 million in 2025. Although ClimateTech still represents a relatively small share of the overall venture market, venture capital remains a critical catalyst for developing, validating, and ultimately scaling the next generation of climate solutions.
Source: Pitchbook
Notable Deals: 2025 to 2026 in Focus
Company | Vertical | Country | Round | Amount | Date |
AgTech | Brazil | Series B | $13.0M | June 2026 | |
Clean Economy | Argentina | Pre-Seed | $2.0M | May 2026 | |
Energy | Argentina | Series B | $11.5M | Apr 2026 | |
AgTech | Chile | Bridge Round | $3.0M | Apr 2026 | |
Climate Risk Solutions | Argentina | Seed | $2.7M | Apr 2026 | |
AgTech | Uruguay | Seed | $1.3M | Mar 2026 | |
Mobility | Chile | Pre-Series A | $3.1M | Jan 2026 | |
Energy | Mexico | Series A | $10.0M | Nov 2025 | |
Mobility | Brazil | Series B | $45.0M | Oct 2025 | |
Energy | Colombia | Series B | $15.0M | Sep 2025 | |
Decarbonization | Argentina | Seed | $13.5M | July 2025 | |
Decarbonization | Brazil | Series A | $30.0M | Apr 2025 | |
AgTech | Argentina | Series A | $20.3M | Mar 2025 |
Source: PitchBook, PR Newswire
The US$30 million Series A financing for Mombak in April 2025, supported by investors including Union Square Ventures, Kaszek, Bain Capital, AXA IM Alts, and Lowercarbon Capital, served as a pivotal event for the regional carbon removal sector (Reuters, 2025b; Crunchbase, 2025). Further bolstering confidence in Latin American carbon markets, Google subsequently finalized its most significant carbon removal contract with the firm.
Similarly, Puna Bio's US$20.3 million Series A, backed by Corteva Catalyst, the Bill & Melinda Gates Foundation and Dalus Capital, underscores that international investors are increasingly recognizing the region as a hub for agricultural innovation, rather than just a target market for foreign deployment (PRNewswire, 2025).
The Structural Gaps That Still Define the Landscape
Adaptation remains underfunded: since 2003, multilateral climate funds have approved a cumulative US$3.9 billion for mitigation projects versus just US$0.8 billion for adaptation, a ratio of more than four to one (Climate Funds Update, 2025)
Agriculture, forestry, and land use remain structurally underinvested relative to their emissions footprint, with barriers including limited pipeline visibility, thin credit histories, and currency risk (CPI, 2025)
Early-stage climate capital is scarcer: globally, early-stage VC's share of climate tech funding has fallen from roughly 20% in 2021 to under 8% in 2025, a trend Latin American startups feel acutely given their concentration at seed and Series A (Sightline Climate, 2026)
Geographic concentration persists: Brazil and Mexico account for 78.5% of all Latam venture capital, leaving climate innovation in smaller markets underfunded relative to both local risk and innovation quality (Cuantico VP, 2026)
What This Means for Climate Founders in 2026
The funding environment rewards a specific profile:
Demonstrate commercial traction, not just impact, through paying customers and clear unit economics
Prioritize capital efficient models that scale through software and data rather than heavy capital expenditure
Build locally, scale globally, solving acute regional problems with solutions that travel
Anchor solutions in clear economic value, where regulation, supply chain standards, or cost savings drive adoption alongside sustainability impact
6. Conclusion: The Ecosystem Has Earned Its Moment
In November 2025, world leaders gathered in Belém for COP30, a deliberate signal that Latin America is no longer simply a recipient of global climate policy but a protagonist. The summit closed with commitments to triple adaptation finance by 2035 and launch the Tropical Forest Forever Facility (SEI, 2025; Carbon Brief, 2025).
The 2026 Latam Climate Innovation Startup Radar documents the entrepreneurial expression of that same moment. What 483 startups across five verticals show is that the ecosystem has matured: AI is now foundational rather than a differentiator, adaptation has become investable, nature is becoming the technology, industrial decarbonization has found its software moment, and capital is concentrating into fewer, larger, more serious bets than in 2021.
A Call to Action
Founders should build where gaps remain widest: adaptation, water, and industrial emissions, with more discipline given a higher funding bar.
Investors should allocate more capital to a market accounting for less than 2% of global VC flows yet producing companies setting global standards in carbon removal and agricultural biotech, a risk-adjusted opportunity that remains largely uncrowded (WEF, 2025).
Corporates should pursue commercial partnerships here rather than impact-only projects, prioritizing supply chain verification, energy management, and fleet electrification needs.
Policymakers should complement the work of founders and investors by accelerating input registration, carbon market standards, and adaptation finance that reaches smallholder communities.
Dalus Capital's Commitment
Dalus Capital has actively supported this ecosystem since our initial investments, recognizing that while the region possesses the necessary talent, biodiversity, and sense of urgency, it has lacked large-scale capital and coordinated conviction. We are committed to filling that gap. Rather than a final catalog, this radar serves as a dynamic resource and a foundation for the strategic partnerships that will shape Latin America's future.
The Latam climate innovation ecosystem continues to evolve rapidly, and we’re always looking to discover the next generation of founders building impactful solutions. If you’d like to be considered for future editions of the radar, please complete the form below:
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