Raj Kapoor, co-founder of Climactic, discusses growing up in Pennsylvania, his early days in Silicon Valley, joining Lyft, and using software to cut emissions. They also talk about self-driving cars, raising funds at Climactic, and remaking the electric grid.
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Quick takeaways
There is a significant innovation gap in the climate tech sector, and more capital is needed to support the creation of startups that can help enterprises achieve their net-zero targets.
Software-based solutions, such as digital twinning and grid optimization, play a crucial role in accelerating decarbonization and optimizing different sectors, including energy grids and buildings.
Deep dives
Investing in Climate Tech Startups
The podcast episode discusses the importance of investing in climate tech startups. The hosts highlight the need for enterprises to make a net-zero pledge and the lack of a comprehensive plan to achieve this goal. They emphasize that there is a significant innovation gap in the climate tech sector and that more capital is needed to support the creation of startups that can help enterprises achieve their net-zero targets. The hosts also mention the importance of software-based solutions in various industries to accelerate decarbonization. Examples such as renewable energy storage, grid optimization, and digital twinning are cited as areas where software can play a crucial role.
Opportunities in Weather Prediction and Digital Twinning
The podcast episode discusses the potential opportunities in weather prediction and digital twinning in the context of climate tech. The hosts mention the complexity of weather systems and the challenges associated with accurate weather forecasting. They highlight how artificial intelligence and simulation techniques are being employed to improve weather prediction models. Additionally, the hosts discuss the concept of digital twinning, which involves creating digital replicas of physical systems or environments. They explain how this technology can be applied to optimize and manage different sectors, such as buildings, farms, and energy grids, by utilizing AI for predictions, analysis, and optimization.
Challenges in Fundraising for Climate Tech
The podcast episode examines the challenges faced in fundraising for climate tech ventures. The hosts discuss the current landscape of venture funding, which has experienced a pullback in investments, especially in sectors related to climate tech. They highlight the difficulty in securing capital due to overallocation and decreased appetite from investors. The hosts mention the need for more forward-thinking institutions and family offices to support climate tech funds. Despite the challenges, they express resilience and determination in finding solutions to the global climate crisis through their investment activities.
Grid Optimization and Energy Storage in Climate Tech
The podcast episode explores the importance of grid optimization and energy storage in the context of climate tech. The hosts discuss the challenges associated with integrating renewable energy sources into the grid and the need for effective storage solutions. They emphasize the significance of AI-driven software to optimize and balance the supply and demand of energy. The hosts mention the potential of distributed storage, including batteries, to support renewable energy generation and mitigate issues like intermittency and capacity constraints. They highlight the role of software-based solutions in facilitating the efficient and cost-effective utilization of renewable energy resources.
The Sunday Times’ tech correspondent Danny Fortson brings on Raj Kapoor, co-founder of Climactic, to talk about growing up in Pennsylvania (3:10), his early days in Silicon Valley (8:00), making himself president of the Internet (club) (10:30), his first startup (16:30), Cleantech 1.0 (22:00), joining Lyft (25:00), self-driving cars (28:30), raising a first fund at Climactic (32:15), using software to cut emissions (37:00), and remaking the electric grid (45:00).