Queensland’s climate tech sector remains resilient despite national volatility in venture capital funding, recording strong investment activity last financial year, according to a new report.
Data from Cut Through Ventures and QIC Ventures show climate and CleanTech companies secured $78 million in funding across a range of early-stage rounds, edging just behind enterprise software, which secured $82 million.
Climate tech also dominated the deal table, accounting for five of the top ten venture deals in the state and 16.5 per cent of the total deal count. Two standout deals include $15 million raises each for EcoJoule Energy and Water & Carbon Group.
In total, Queensland startups attracted $417 million across 76 venture and angel deals, according to the first Queensland Venture Capital Report produced by Cut Through Ventures and QIC Ventures.
While deal volume reached record highs, cheque sizes remained modest — a reflection of the early-stage maturity of most companies in the market.
The momentum in CleanTech investment defies national trends highlighted in Cut Through Venture’s 2025 Impact Startup Benchmark Report, which notes that climate startup investment dipped in 2023 and 2024 after a pandemic-era surge.
That volatility was driven by shifting appetites, valuation recalibrations and delayed deployment of new climate-focused funds. Queensland, however, seems to have weathered the turbulence.
While enterprise and business software led in capital terms, followed by climate tech, HealthTech also attracted $56 million. BioTech and MedTech followed with a combined $23 million.
Other signals of ecosystem maturity included repeat founders launching new ventures, interstate and overseas talent relocating to Queensland, and a broader increase in investment-readiness among founders.
“You don’t need to be in Sydney, Melbourne, or Silicon Valley to build something extraordinary. In Queensland, there’s plenty of talent, tenacity and grit, hungry to be part of a success story,” ProcurePro founder and chief executive Alastair Blenkin said.
Backed by QIC Ventures and the Queensland Venture Capital Development Fund, the state has made deliberate moves to cultivate a globally competitive ecosystem by aligning capital, capability, and community.
“[The] data shows the past year was the State’s strongest funding year since the correction of FY2022,” the report notes.
“Whilst this is great progress, we remain excited for what is still to come, with a lot of foundational work undertaken and exciting green shoots that exemplify the signs of a venture capital ecosystem poised for success.”
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