Tracxn Technologies, a global software as a service (SaaS)-based market intelligence platform, said that the funding in the environment tech sector dropped 5 percent year-on-year to $29.9 billion in 2022. The decrease of funding in 2022 was largely due to the 5 percent decline in late-stage funding from $20.6 billion in 2021 to $18.4 billion in 2022.