Despite a 7% decline in venture investment to $12.9 billion, the climate tech sector showed signs of maturation in 2024. According to a new PitchBook report, median deal sizes rose to $7 million, and pre-money valuations jumped to $44.5 million. Investors are increasingly favoring later-stage companies that have successfully moved beyond their seed rounds. The overall deal count dropped by 27% to 568, reflecting broader market trends. The report highlights a shift in investor focus from early-stage to more established climate tech firms, amidst a challenging economic landscape.