ImpactAlpha, January 14 – Healthy coral reefs foster biodiversity and provide food, income and protection for more than 500 million people. But pollution and climate change are expected to kill 90% of the world’s coral in the next 30 years.
Coral Vita’s on-shore coral farms are breeding tougher varieties to withstand climate shocks (see, “New models for financing reef restoration in the Caribbean and beyond”).
Builders Collective led its $2 million seed round, with backing from the Sustainable Ocean Alliance, Yale University and individual investors.
Coral Vita will use the funding to invest in 3D printing and robotics. “We’re launching R&D projects not just for restoration, but protection,” Google X’s Tom Chi, a Coral Vita investor, told TechCrunch.