Investment of Over $8 Million in Series A for Expansion of Coral Vita's Coral Reef Restoration Efforts
In a significant step towards preserving the world's coral reefs, Builders Vision, a leading impact investment firm, has led a Series A funding round of over $8 million for Coral Vita, a commercial coral reef restoration company. This investment marks a milestone as Coral Vita becomes the first coral restoration company to close a Series A, positioning them to scale faster and more effectively in their mission to restore reefs and protect the communities dependent on them worldwide.
Founded by Lukas Walton, Builders Vision values Coral Vita's employment of cutting-edge genetic technology to enhance coral survivability. Walton highlights Coral Vita's pioneering, scalable solution for reef restoration as a standout investment opportunity due to its global market value and strong organic growth.
The Series A funds will primarily be used to scale Coral Vita's coral reef restoration mission. This includes expanding land-based coral farming operations, advancing research, and accelerating development of innovative restoration techniques. The expansion of land-based coral farms will allow for the growth of corals in controlled conditions, accelerating growth up to 50 times faster than in the wild.
The funding will also support the development and refinement of restoration techniques such as microfragmentation, fusion, and assisted evolution to improve coral resilience to climate impacts like warming and ocean acidification. Additionally, the use of cutting-edge technology including computer vision and machine learning will be employed to optimize coral genetics and monitor growth in real-time.
Research into coral biology innovations such as selective breeding for heat tolerance, coral probiotics, and symbiotic algae research will also be boosted to enhance coral health and survival rates under stress.
Sam Teicher, co-founder and Chief Reef Officer of Coral Vita, emphasizes that investing in ecological infrastructure for coral reef restoration is profitable and everyone's responsibility. Coral Vita operates on a mission-driven for-profit model, allowing for sustainable growth without relying on traditional grants.
The funding round was also participated by Katapult Ocean and iAlumbra. Coral Vita's operations span locations such as the Bahamas, Saudi Arabia, and the UAE. Since 2015, Coral Vita has cultivated over 100,000 corals across 52 species.
Coral reefs, which support 25% of marine life and generate about $2.7 trillion annually, face dire threats from climate change. This investment is seen as a testament to the viability of investing in ecological infrastructure. Coral Vita's solution for reef restoration creates real global market value that extends beyond its Bahamian home.
In 2021, Coral Vita was recognized as the inaugural winner of Prince William's Earthshot Prize. Coral Vita and Builders Vision share the belief that ocean health and economic health are interconnected. Investing in Coral Vita is not just an investment in a profitable business, but also in the preservation of marine biodiversity, economic prosperity, and the livelihoods of a billion people globally.
Teicher concludes, "We're excited to have Builders Vision as a partner in our mission to restore and preserve the world's coral reefs. Together, we can make a real impact on the future of our oceans."
The Series A investment will enable Coral Vita to expand its operations, enhance research and development, and increase its overall impact and reach. With this funding, Coral Vita is one step closer to its goal of restoring and preserving the world's coral reefs for future generations.
Read also:
- Elon Musk Acquires 26,400 Megawatt Gas Turbines for Powering His AI Project, Overlooks Necessary Permits for Operation!
- U Power's strategic collaborator UNEX EV has inked a Letter of Intent with Didi Mobility to deploy UOTTA(TM) battery-swapping electric vehicles in Mexico.
- Gold nanorod market to reach a value of USD 573.3 million by 2034, expanding at a compound annual growth rate (CAGR) of 11.7%
- Enhanced Financial Incentives for Electric Vehicles Set to Launch in Italy
