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Top Social Impact Startups to Watch (and Work for) in 2023

August 2, 2023
      |      Kieran Ryan
Person emptying plate in trash

My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

  • Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...
  • On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.
  • XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.
  • ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.
  • Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

Birdies Logo

Birdies

Women’s shoes and stylish flats.

Headquarters

San Francisco, California

Industry

DTC

Founded

2015

Funding

$10.1 million

Valuation

Undisclosed

Traction

  • As of June 2023, Birdies has donated 54,000 pairs of shoes.
  • As of June 2023, Birdies has 223K Instagram followers, 69K Facebook followers, and 802 Twitter followers.
  • In April 2021, Birdies reported 300% YoY growth.
  • In 2018, Birdies had a waitlist of 30,000 people.
  • In 2015, Birdies sold 1,800 pairs of shoes to friends and family.
Cotopaxi Logo

Cotopaxi

Hiking and outdoor gear.

Headquarters

Salt Lake City, Utah

Industry

DTC

Founded

2014

Funding

$77.1 million

Valuation

Undisclosed

Traction

  • As of June 2023, Cotopaxi has 326K Instagram followers, 179K Facebook followers, 26.5K TikTok followers, and 10.7K Youtube subscribers.
  • As of September 2021, Cotopaxi has awarded 36 focused grants and assisted 822,000 impoverished individuals.
  • As of September 2021, Cotopaxi incorporated recycled product compounds into 94% of its products.
KiwiCo Logo

KiwiCo

KiwiCo delivers kids' subscription boxes and STEM, STEAM, science and art kits that provide serious fun and hands-on learning.

Headquarters

Mountain View, California

Industry

Consumer, Edtech, DTC

Founded

2011

Funding

$10 million

Valuation

Undisclosed

Traction

  • As of May 2023, KiwiCo has shipped over 40 million Kiwi Crates.
  • As of May 2023, KiwiCo has designed 2,000 projects.
  • As of August 2021, KiwiCo has shipped more than 25 million Kiwi Crates to kids in 40 countries.
Watershed Logo

Watershed

The enterprise climate platform.

Headquarters

San Francisco, California

Industry

Climate

Founded

2019

Funding

$84 million

Valuation

$1 billion

Traction

  • Watershed’s customers, including BlackRock, Shopify, Stripe, DoorDash, Spotify, Okta, and Airbnb, manage more than 20 million tonnes of CO2e per year (4x the carbon footprint of San Francisco) through the platform. 
  • In February 2022, Watershed acquired VitalMetrics, the world’s most comprehensive multi-regional greenhouse gas emission database.
Mill Logo

Mill

An all-inclusive food recycling service.

Headquarters

San Bruno, California

Industry

Climate, Food & Beverage, Hardware

Founded

2020

Funding

$100 million

Valuation

Undisclosed

Traction

  • As of June 2023, Mill claims a 24-hour or less compost conversion process.
Commonwealth Fusion Systems Logo

Commonwealth Fusion Systems

The surest path to limitless, clean, fusion energy.

Headquarters

Cambridge, Massachusetts

Industry

Climate, Fusion

Founded

2018

Funding

$2 billion

Valuation

Undisclosed

Traction

  • As of June 2023, Commonwealth Fusion Systems has completed phase 1, Alcator C-Mod: Plasma Physics Basics, phase 2, HTS Magnets: Enabling Technology, and is in the process of completing phase 3, SPARC: Fusion Energy Demonstration.
  • In June 2023, Commonwealth Fusion Systems was awarded money from the US Department of Energy.
  • As of June 2023, Commonwealth Fusion Systems claims their magnets allow them to create 60x smaller, more affordable fusion reactors.
Loam Logo

Loam

Fungus eats carbon and pays farmers.

Headquarters

Orange, New South Wales, Australia

Industry

Climate, Biotech

Founded

2018

Funding

$150 million

Valuation

Undisclosed

Traction

  • As of June 2023, Loam claims its biotechnology can potentially remove up to 8.5 gigatons of CO2 annually.
  • As of February 2023, Loam has sown 6,000 individual trial plots across 29 locations in 2 countries. Data from the trial plots indicate that the farmers could increase carbon units per hectare by 3x-6x, up from 0-2x, via other land management practices.
Pachama Logo

Pachama

Invest in high-quality carbon credits.

Headquarters

San Francisco, California

Industry

Climate, Artificial Intelligence (AI)

Founded

2018

Funding

$79.3 million

Valuation

Undisclosed

Traction

  • As of June 2023, Pachama has already protected 2.6 million football fields worth of forests through offsetting emissions on its platform.
  • As of May 2022, Pachama has 800 customers, including Shopify, Flexport, Salesforce, Workday, Microsoft, Netflix, Airbnb, SoftBank, Glovo, Athletic Greens, Autodesk, Mercado Libre, Vuori, and Shopify.
Electra Logo

Electra

Steel from the sun.

Headquarters

Boulder, Colorado

Industry

Climate

Founded

2019

Funding

$113.5 million

Valuation

Undisclosed

Traction

  • As of October 2022, Electra claims its electrochemical process to refine iron ore to high-purity iron has lowered the process temperature from 1,600 (69% of steel is made at this temperature) to 60 degrees Celsius.
Zero Acre Farms Logo

Zero Acre Farms

Cooking oil that’s better for you.

Headquarters

San Mateo, California

Industry

Food & Beverage, Climate

Founded

2020

Funding

$40.6 million

Valuation

Undisclosed

Traction

  • As of June 2023, Zero Acre Farms claims its cooking oil saves 222 sq. feet of land compared to olive oil.
  • As of June 2023, Zero Acre Farms has 16.6K Instagram followers, 5.5K Twitter followers, and 763 Facebook followers.
Charm Industrial Logo

Charm Industrial

Carbon removal technology.

Headquarters

San Francisco, California

Industry

Climate

Founded

2018

Funding

$103.5 million

Valuation

Undisclosed

Traction

  • As of June 2023, Charm Industrial has removed 6,200 tons of carbon and has 140,000 tons of deals with JP Morgan Chase and Frontier.
  • Charm Industrial counts JP Morgan Chase, Frontier, Stripe, Microsoft, Alphabet, and Meta as customers.
Solugen Logo

Solugen

Reimagining the chemistry of everyday life.

Headquarters

Houston, Texas

Industry

Climate

Founded

2016

Funding

$642.2 million

Valuation

$2 billion+

Traction

  • As of June 2023, Solugen claims its specialty chemicals can avoid 6 tons of CO2 emissions per ton of hydrogen peroxide.
  • As of November 2022, Solugen’s Bioforge is running a nearly nine-figure business with high margins.
Mosa Meat Logo

Mosa Meat

A food technology company.

Headquarters

Maastricht, Netherlands

Industry

Food & Beverage, Climate

Founded

2015

Funding

$96 million

Valuation

Undisclosed

Traction

  • As of June 2023, Mosa Meat claims its meat produces 96% fewer emissions than conventional beef.
  • In 2020, Mosa Meta reported an 88x cost reduction in their animal-free medium. 
Heart Aerospace Logo

Heart Aerospace

Electrifying regional air travel.

Headquarters

Gothenburg, Sweden

Industry

Aerospace, Hardware

Founded

2018

Funding

$40.2 million

Valuation

Undisclosed

Traction

  • In July 2021, Heart Aerospace received an order purchase for 200 of its inaugural ES-19 electric aircraft from United Airlines and Mesa Air Group.
  • As of July 2021, Heart Aerospace claims its ES-19 electric motor is 20x less expensive than an equivalent turboprop, and maintenance costs will be reduced by 100x.
SpaceX Logo

SpaceX

SpaceX designs, manufactures, and launches advanced rockets and spacecraft.

Headquarters

Hawthorne, California

Industry

Space, Hardware, Aerospace

Founded

2002

Funding

$9.8 billion

Valuation

$137 billion

Traction

  • As of May 2023, SpaceX has 230 total launches, 191 total landings, and 165 total reflights.
  • As of May 2023, SpaceX has launched 1272 metric tons of payload into various orbits.
  • In 2022, SpaceX completed 61 launches.
Lilac Solutions Logo

Lilac Solutions

Clean, fast, cheap, lithium mining.

Headquarters

Oakland, California

Industry

Climate

Founded

2016

Funding

$223.6 million

Valuation

Undisclosed

Traction

  • As of June 2023, Lilac Solutions claims its technology is 5,000x faster and recovers 2x more resources at a 50% lower cost.
Carbon Engineering Logo

Carbon Engineering

Direct air capture of CO2.

Headquarters

Squamish, British Columbia, Canada

Industry

Climate

Founded

2009

Funding

$110.4 million

Valuation

Undisclosed

Traction

  • In 2022, construction began on the 1PointFive, Carbon Engineering’s US partner commercial facility, which will use Carbon Engineering technology and is expected to capture 500,000 tonnes of CO2 per annum.
NewLimit Logo

NewLimit

Aims to increase each person's healthy years by epigenetically reprogramming cells.

Headquarters

South San Francisco, California

Industry

Biotech

Founded

2021

Funding

$40 million

Valuation

Undisclosed

Traction

  • In April 2023, NewLimit completed its first partial reprogramming screen in human T cells from healthy young and old donors.
  • In February 2023, NewLimit made several improvements to its Delivery Engine, and it’s now  >100X more efficient than its initial manufacturing runs in 2022.
Loyal Logo

Loyal

A clinical-stage veterinary medicine company on a mission to help dogs live longer, healthier lives.

Headquarters

San Francisco, California

Industry

Biotech, Pets

Founded

2019

Funding

$58 million

Valuation

Undisclosed

Traction

  • Loyal’s team has published 152 papers, worked on 56 clinical drug programs, and combined for 192 years of research.
  • Loyal received protocol concurrence from the FDA for its companion dog longevity study.
reverse play - two triangles

Rewind AI

On a mission to give humans perfect memory.

Headquarters

New York, New York

Industry

Artificial Intelligence (AI)

Founded

2020

Funding

$25 million+

Valuation

$350 million

Traction

  • Rewind AI’s DAU/MAU is 63%, much higher than the standard benchmark of 10%-20%.
  • Rewind AI netted 1,000 introductory offers from investors and 170 actual offers, resulting in its Series A at a $350 million valuation.
Whisper AI Logo

Whisper AI

The new hearing system that gets better over time.

Headquarters

San Francisco, California

Industry

Hardware, Artificial Intelligence (AI)

Founded

2017

Funding

$35 million

Valuation

Undisclosed

Traction

  • In March 2021, more than 40% of partners of Whisper AI wearers claimed to understand conversations better.
  • Whisper AI was an honorable mention for Fast Company’s World Changing Ideas 2021 Award.
Papa logo

Papa

Companionship for older adults.

Headquarters

Miami, Florida

Industry

Eldercare, Marketplace

Founded

2017

Funding

$241.2 million

Valuation

$1.4 billion

Traction

  • 69% of Papa members reduce reduced loneliness, 45% better health, and >90% credit Papa as a reason for staying with their current health plan.
  • Papa serves members in all 50+ states.
  • Papa is available to over 65 health plans, including Medicare Advantage and Medicaid.

biomodal logo

biomodal

Working to expand the dimensions of genetic discovery by using epigenetics to reduce several routine and important diagnostic tests for common cancers to a simple blood draw.

Headquarters

Cambridge, England, United Kingdom

Industry

Biotech

Founded

2012

Funding

$155.2 million

Valuation

Undisclosed

Traction

  • In 2023, biomodal launched a new duet multiomics solution to sequence genetics and epigenetics in one workflow simultaneously.
  • In 2023, biomodal’s CEGX team was published in Nature Biotechnology.
Uncommon Logo

Uncommon

Forging a healthier future of food.

Headquarters

Cambridge, England, United Kingdom

Industry

Food & Beverage, Climate, Biotech

Founded

2018

Funding

$33.6 million

Valuation

Undisclosed

Traction

  • As of June 2023, Uncommon claims its technology can produce 80% less CO2 emissions per pound of pork.
Epoch Logo

Epoch

Plastic-eating enzymes.

Headquarters

London, England, United Kingdom

Industry

Climate, Biotech

Founded

2020

Funding

$16 million

Valuation

Undisclosed

Traction

  • As of June 2023, Epoch can sequence 100 trillion enzyme variants per hour.
Formo Logo

Formo

Animal-free dairy products.

Headquarters

Berlin, Germany

Industry

Food & Beverage, Climate, Biotech

Founded

2018

Funding

$54.5 million

Valuation

Undisclosed

Traction

  • As of June 2023, Formo claims its process avoids 9 tons of CO2 per ton of cheese.
  • In a study conducted with the University of Bath, Formo concluded that 78% of consumers are likely or definitely likely to buy animal-free dairy cheese when it's available from a sample of 5,000 people.
Notable Labs Logo

Notable Labs

A clinical-stage precision therapeutics company developing a new class of oncology medicines: Predictive Precision Medicines.

Headquarters

Foster City, California

Industry

Biotech

Founded

2014

Funding

$54.8 million

Valuation

Undisclosed

Traction

  • Notable’s predictive precision medicine platform identifies responders with 92% accuracy in a study conducted at Stanford in 2020.
  • As of May 2023, NBL-001, a molecule in Notable’s pipeline, is at phase 1 for acute myeloid leukemia (AML) indication, preclinical for pediatric leukemia indication, and preclinical for solid tumors indication.
  • As of May 2023, Fosciclopirox, a molecule in Notable’s pipeline, is pre-clinical for AML indication.
three dark blue circle joined together on white background

Ossium Health

Creating a source for life-saving stem cells.

Headquarters

San Francisco, California

Industry

Biotech

Founded

2016

Funding

$76.9 million

Valuation

Undisclosed

Traction

  • In April 2023, Ossium Health won a $3.46 million grant from the California Institute of Regenerative Medicine. 
Cellworks logo

Cellworks

Personalized cancer therapy.

Headquarters

South San Francisco, California

Industry

Biotech

Founded

2005

Funding

$33 million

Valuation

Undisclosed

Traction

  • Cellworks Computational Omics Biology Model has a network of 7,000+ human genes, 30,000+ molecular species, and 100+ signaling pathways.
  • In 2022, Cellworks won The Challengers Innovative Business of the Year Award by Dell Technologies.
Cerebelly Logo

Cerebelly

Baby food with 16 key brain-supporting nutrients.

Headquarters

Los Gatos, California

Industry

Food & Beverage

Founded

2019

Funding

$13.87 million

Valuation

Undisclosed

Traction

  • As of June 2023, Cerebelly has 54.1K Instagram followers and 6.2K Facebook followers.
  • As of March 2023, Cerebelly is available in 8,200 retail stores, up from 7,600 in December 2022, including Amazon, Thrive Market, Target, Wegmans, Meijer, Whole Foods, and Giant Eagle.
Propel Logo

Propel

Building software for low-income Americans.

Headquarters

Brooklyn, New York

Industry

Fintech

Founded

2014

Funding

$68.2 million

Valuation

Undisclosed

Traction

  • As of June 2023, Propel has rated 4.8/5 stars from 439K reviews on the Google Play Store and 4.8/5 stars from 252.6K reviews on the Apple App Store.
  • As of March 2022, Propel has 5 million monthly active users.
Binti Logo

Binti

Foster care software.

Headquarters

Oakland, California

Industry

Healthcare, Childcare

Founded

2016

Funding

$60 million+

Valuation

Undisclosed

Traction

  • As of May 2023, Binti has helped 44,000 families foster/adopt a child's approval.
  • As of May 2023, 10,000 social workers use Binti.
  • As of May 2023, Binti claims it has increased the family approval rate by 30%.
Outschool Logo

Outschool

Online classes for kids aged 3-18.

Headquarters

San Francisco, California

Industry

Edtech

Founded

2015

Funding

$240.2 million

Valuation

$3 billion

Traction

  • As of June 2023, Outschool reported 140,000 live online classes, 1 million learnings, 14 million class hours, and $229 million in teacher earnings.
  • As of June 2023, Outschool’s org for financial assistance, Outschool.org, has delivered $4 million in grants and direct-to-family support and has supported 32,000 learners since 2020.
  • From October 2020 to October 2021, Outschool reported increasing bookings by 1,500%.
Masterclass Logo

Masterclass

Online classes taught by experts.

Headquarters

San Francisco, California

Industry

Edtech

Founded

2015

Funding

$461.4 million

Valuation

$2.75 billion

Traction

  • As of June 2023, Masterclass has reported 180+ instructors and classes on the platform.
  • As of June 2023, Masterclass has distributed Masterclass content to 150,000+ currently or formerly incarcerated individuals and sent 345,000+ free annual memberships to underserved communities and 919 organizations.
CookUnity Logo

CookUnity

Flexible and convenient meal plans that match your needs and taste.

Headquarters

Brooklyn, New York

Industry

Food & Beverage, Food Delivery

Founded

2015

Funding

$121.9 million

Valuation

Undisclosed

Traction

  • As of June 2023, CookUnity has rated 4.8/5 stars from 3.7K reviews on the Apple App Store and 2/5 stars from 63 reviews on the Google Play Store.
  • As of June 2023, CookUnity has 50,000+ subscribers, 7 kitchens, 80 chefs, 430 weekly recipes, and 10 million meals annually.
  • In 2022, CookUnity donated 50,000+ lbs of food.
  • From September 2020 to September 2021, CookUnity reported 550% growth.

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