Latest news with #CoralVita
Forbes
3 hours ago
- Business
- Forbes
Meet The Under 30 Founders Making Waves With A $8 Million Series A
Think this is nice? It's a version of the weekly Under 30 newsletter and would be even better in your inbox . courtesy of Coral Vita Nestled along the southern coast of Grand Bahama is the world's first commercial land-based coral farm for reef restoration, Coral Vita. Their facility is not just growing coral, but an entirely new industry. This month, Coral Vita closed an $8 million Series A round led by Builders Vision, bringing their total funding to $15 million. This new financing will go toward expansion in the Middle East—where they're currently designing the biggest coral farm in the world—as well as research and development initiatives. The reef restoration startup was founded in 2015 by Sam Teicher and Gator Halpern, who made the 30 Under 30 Social Entrepreneurs list in 2019. While coral takes up less than 1% of the sea floor, it supports the livelihoods of approximately 1 billion people and generates $10 trillion per year by providing sites for biodiversity, tourism and medical innovation. Teicher says that we must start thinking of coral reefs as an infrastructure. But the world's already small supply of coral reefs is disappearing quickly due to climate change, ocean acidification and human activity. Coral Vita is on a mission to change that by selling restoration as a service to hotels, developers, governments and other entities who depend on the vast benefits of coral. Using the controlled environment at their farms to grow coral in months rather than decades, they're able to plant new coral back into degraded reefs. The startup has reached significant milestones such as winning Prince William's Earthshot prize of £1 million in 2021 and landing partnerships with nature-positive brands like Corona and Cariuma. 'While we have been banging the drum about reef restoration being a viable commercial industry for a long time, we finally turned a corner and started to see millions of dollars of contracts flow into doing reef restoration,' Halpern said. Teicher and Halpern met during graduate school at Yale University's School of Environment. After bonding over a shared love for the ocean, they grappled with how to make a meaningful impact in the blue economy beyond the traditional academic and NGO space. 'It felt like I was writing these papers that were the obituary of these ecosystems and not actually going out and actively trying to change that fate,' Halpern said. One day on a back porch in New Haven, Connecticut, Teicher and Halpern realized that focusing on revenue-generation could actually impact their environmental goals for the better. 'We are showcasing that 'for profit, for nature and for good' is a viable approach that we can do good and do well in,' Teicher said. The journey to this Series A funding has not come without setbacks. As an environmental startup, Coral Vita's success is vulnerable to circumstances out of their control. Hurricane Dorian, a category 5 storm, destroyed their entire coral farm in 2019. While the storm left devastating impacts, Teicher and Halpern were encouraged by how their regeneration efforts had already touched the local community. Coral reefs provide a natural seawall during tropical storms by breaking wave energy before the tides reach shore. 'We literally saw how healthy reefs saved lives in our area while a few miles away, where the reef was depleted, many lives were lost,' Halpern said. 'We decided that the only thing to do was double down on our commitment here in Grand Bahama to build our next iteration of the coral even bigger and better than the last.' Talk next week, Alexandra, Zoya and Alex P.S. welcome Alexandra, the Under 30 intern for the summer. She wrote this intro! Have any more tips for her? Reach her at ameier@ Forbes Top Creators: The borders between Creators and showbiz are blurring. Jake Shane, no. 37 on the Forbes Top Creators list. Photography by Cody Pickens for Forbes Last week, Forbes launched its fourth annual Top Creators list, highlighting the top earners across social media. Some content superstars returned, like MrBeast, who remains at No. 1 with $85 million in annual earnings, or no. 5 Alex Cooper, whose podcast empire bumped her earnings up to an estimated $32 million this year. Newcomers joined this year's list, too: Brit Steven Bartlett, No. 11 for his podcast The Diary of A CEO, is on track to expand his European fanbase to the U.S. (Check out more about his journey here, including why he's turned down $100 million deals.) And Wisdom Kaye—who just might be the chicest man on TikTok—came in at No. 48. See the full list here. Lister Lowdown -The ball is in Sequel's court. This week, the 30 Under 30 startup, founded by CEO Greta Meyer and CMO Amanda Calabrese, announced they're the official tampon sponsor of the Indiana Fever. It's part of a growing trend for women's teams to bring on women's health companies as sponsors: The New York Liberty announced a deal with feminine care company LOLA in April. In June, The Honey Pot was named exclusive body care partner of the Atlanta Dream, and Phoenix Mercury partnered with Aunt Flow. Read more here. -2024 Forbes Under 30 company Harvey AI, which builds custom AI assistants for law firms, this week announced a $300 million Series E that valued the startup at $5 billion. The news comes just four months after Harvey, which was founded by Winston Weinberg, was valued at $3 billion in a $300 million Series D led by Sequoia. This latest round was co-led by Coatue and Kleiner Perkins. - a transcription platform that automatically takes notes from meetings, this month announced it reached unicorn status with a $1 billion valuation. Cofounded by 2022 Under 30 listers Krish Ramineni and Sam Utodong, the valuation boost came from a tender offer as opposed to a new funding round (this means existing shares, usually from employees, were bought out from investors). Fireflies claims it has been profitable since 2023. On Our Radar -Looking to elevate your summer style? Subscription service Nuuly, from the creators of Urban Outfitters and Anthropologie, is disrupting the fashion rental market. Renters get their pick of six apparel pieces per month with their subscription and the flexibility to buy or return them. Nuuly's ability to obtain almost half of their inventory at cost from its sister companies is leading to substantial revenue and subscriber growth ( Yahoo Finance ). -The AI Revolution could mean trouble for your electricity bill this month. The sweeping spread of computing centers is putting a strain on the nation's power grid. The number of data centers in the U.S. doubled in the past three years, requiring 10 times the electrical power as traditional search engines. Electricity consumption is moving toward a record high and American taxpayers will pick up the tab, particularly in the Northeast ( CBS News) . -Time to BeReal… again. The photograph-in-the-moment social media app that launched in 2020 and went viral in 2022 has since seen declining in user engagement. But now, they're positioning themself for a comeback. Their tactic? Advertising across other apps owned by Voodoo Games (which acquired BeReal in 2024 for €500 million), tapping micro influencers at college campuses and sponsoring parties. ( Business Insider )
South Wales Guardian
a day ago
- Business
- South Wales Guardian
William urges investment in environmental projects
William attended Investing for Impact, a forum held at the Guildhall in London on Thursday by the Earthshot Prize, of which he is president and founder, in partnership with Bloomberg Philanthropies. Investors and business owners from around the world attended the event, which spotlighted success stories from the prize, and gave an opportunity for potential investors in environmental solutions to network. The future king told the audience of around 100 people that climate and nature-based solutions were the 'foundation of long-term security, stability and prosperity', reminding them that more than half of global GDP depends on nature. William said: 'Collectively, we have signed up to a global commitment to protect 30% of land and sea by 2030. 'This commitment is our best chance of reversing the damage done to our planet and restoring its wellbeing. 'But 2030 is just five years away, and only 17% of land and just 3% of the ocean has been fully protected. 'Climate and nature-based solutions are the foundation of long-term security, stability and prosperity. 'More than half of global GDP depends on nature.' William encouraged investors to back 'the initiatives that will have the greatest impact'. He said 'innovators and changemakers' needed financial help for initiatives to build a better future for the planet. William said: 'I am lucky enough to meet the innovators and changemakers who are working on the most exciting ideas and initiatives to build a better future for our planet. 'But they cannot do it alone. 'Ideas and initiatives need strong backing if they are to scale and realise their incredible potential. 'And capital, delivered at the right time, in the right way, is the difference between their failure and their success. 'These initiatives aren't just good for our natural world, they are also good long-term investments offering huge potential.' William commended success stories of previous years – including 2024 finalist NatureMetrics raising 25 million dollars (£18.2 million) in its first funding round to develop biodiversity monitoring tools, and the winner of the 2021 prize, Coral Vita, closing more than eight million dollars (£5.8 million) in funding to restore degraded reefs and ocean health. He added that last week, 2023 finalist Colorifix reached a first close of a round of 18 million dollars (£13.1 million) to transform textile dyeing without petrochemicals. William concluded: 'Today, I ask you not to retreat. Now is the moment to look forward. 'Look forward to investments that hedge against climate risk and provide a pathway to innovation, profit and resilience. 'This is a huge, untapped opportunity – and one I'm passionate and excited about.' Opening the forum, Kevin Sheekey, the global head of external relations at Bloomberg, thanked William for his leadership. He added: 'In a world that is often divided, Prince William is one of the very few people who can bring people together.' This is one of the events that William, who is also the founder of the Royal Foundation's United for Wildlife, has attended around the city to mark London Climate Action Week, which runs from June 21 to 29. The Earthshot Prize awards £1 million to the best five solutions from around the world each year to help improve the environment.
Calgary Herald
17-06-2025
- Science
- Calgary Herald
Coral cookies help revitalize reefs in the Bahamas
Article content What do beer, cookies and the Bahamas have in common? Corona beer has partnered with a coral restoration project, Coral Vita, to cultivate climate change-resilient coral on concrete 'cookies' for bridging barren patches between healthy coral reefs around the Bahamas. For those who make a donation to Bahamian marine biodiversity, Corona will match it! The Bahamas is renowned for its gorgeous clear waters, soft beaches and exotic coastlines. Article content Article content Article content Coral Vita in Grand Bahama is at the forefront of investing in coral science to revitalize ocean ecosystems, and is restoring coral reefs up to 50 times faster than their normal maturation. As these enchanting kaleidoscopes of nature bend and flow with the ocean currents, they are as fragile in their own nature as they are vital to our own defence. My visit to this popular, dynamic tourist destination is illuminating. Article content Article content Article content Article content Coral Reefs, the rainforests of the oceans, are those vibrantly-coloured otherworldly constructions that are the dreamscape every diver seeks. But they're not just exotic to look at, they have real and vital functions and are among the most important ecosystems on the planet. The reef structures, along with mangroves, are the last lines of defence. They are natural barriers against storm surges and floods. Without coral reefs there is nothing to break down waves and defend against coastal erosion. They reduce wave energy by up to 97 per cent. Even though they cover less than 1 per cent of the ocean floor, they're the most biodiverse ecosystems on Earth, supporting 25 per cent of all marine life. There are also 400 times more medical compounds found in coral reefs than in tropical rainforests. Article content Article content Article content Article content Part plant, part animal, part rock, coral is made up of massive colonies of polyps lined with microscopic algae in their tissue, secreting calcium and limestone to form exoskeletons that combine into reefs. The Bahamian islands, for example, are made up of the limestone created by coral. Article content The problem is that climate destabilization and ocean acidification and warming have increased coral vulnerability, exposing them to water-borne pathogens that cause coral disease and extinction. Coastal construction, careless recreation, invasive species, pollution, storm intensity and frequency are all contributing factors to their rapid global collapse. This is an existential problem. An estimated 90 per cent of the world's coral will be dead by 2050. 50 per cent of coral reefs are already dead, and this has all happened within the last few decades. That number is even higher in the Caribbean where 60-80 per cent of coral is already dead.
Vancouver Sun
17-06-2025
- Science
- Vancouver Sun
Coral cookies help revitalize reefs in the Bahamas
By Adam Waxman What do beer, cookies and the Bahamas have in common? Corona beer has partnered with a coral restoration project, Coral Vita, to cultivate climate change-resilient coral on concrete 'cookies' for bridging barren patches between healthy coral reefs around the Bahamas. For those who make a donation to Bahamian marine biodiversity, Corona will match it! The Bahamas is renowned for its gorgeous clear waters, soft beaches and exotic coastlines. Coral Vita in Grand Bahama is at the forefront of investing in coral science to revitalize ocean ecosystems, and is restoring coral reefs up to 50 times faster than their normal maturation. As these enchanting kaleidoscopes of nature bend and flow with the ocean currents, they are as fragile in their own nature as they are vital to our own defence. My visit to this popular, dynamic tourist destination is illuminating. Plan your next getaway with Travel Time, featuring travel deals, destinations and gear. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Travel Time will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Coral Reefs, the rainforests of the oceans, are those vibrantly-coloured otherworldly constructions that are the dreamscape every diver seeks. But they're not just exotic to look at, they have real and vital functions and are among the most important ecosystems on the planet. The reef structures, along with mangroves, are the last lines of defence. They are natural barriers against storm surges and floods. Without coral reefs there is nothing to break down waves and defend against coastal erosion. They reduce wave energy by up to 97 per cent. Even though they cover less than 1 per cent of the ocean floor, they're the most biodiverse ecosystems on Earth, supporting 25 per cent of all marine life. There are also 400 times more medical compounds found in coral reefs than in tropical rainforests. Part plant, part animal, part rock, coral is made up of massive colonies of polyps lined with microscopic algae in their tissue, secreting calcium and limestone to form exoskeletons that combine into reefs. The Bahamian islands, for example, are made up of the limestone created by coral. The problem is that climate destabilization and ocean acidification and warming have increased coral vulnerability, exposing them to water-borne pathogens that cause coral disease and extinction. Coastal construction, careless recreation, invasive species, pollution, storm intensity and frequency are all contributing factors to their rapid global collapse. This is an existential problem. An estimated 90 per cent of the world's coral will be dead by 2050. 50 per cent of coral reefs are already dead, and this has all happened within the last few decades. That number is even higher in the Caribbean where 60-80 per cent of coral is already dead. The ocean is a carbon sink, sequestering carbon, but as we emit more carbon into the atmosphere, the oceans absorb more than usual to maintain balance, which makes the water acidic and carbonated, like a Coke or a Sprite. That acidity weakens the exoskeletal structure of the coral which, combined with the intensity of the sun, bleaches and kills it. It's essentially getting cooked. Leading the effort toward a solution are two land-based coral nurseries in the Bahamas that nurture coral fragments through 'micro-fragmenting' at coral farms, in which coral is cut to fingernail size pieces and then fused together, speeding their growth up to 50 times faster and decreasing their maturation process from decades to mere months. Acclimating coral to future ocean conditions through assisted evolution strengthens coral resistance to climate change. There are many coral practitioners around the world investing in restoration and revitalization, but there is no scaleable modal. The attention paid to coral science in government policies and in private and international investment is becoming increasingly vital as warmer, more acidic waters threaten our coastlines. The aim of Coral Vita is to make coral more resistant to increased temperatures and acidity. Coral Vita farms produces millions of corals from ten different varieties, and encrusts their micro-fragments onto 'coral cookies' made of concrete, before planting them in the ocean reef by drilling them into degraded coral sites. It's an incredible process, and we get to see that at the farm. Coral restoration specialist, Alannah Vellacott, shares with me that the coral calamity is not natural; it is a casualty of human actions. Her team is working in overdrive to compensate, but ultimately the climate is changing, because we are not. We have to change our causal behaviours, and not just respond to the consequences of them. Did you know Viagra comes from coral? So many beauty products as well as treatments for Alzheimer's and several autoimmune disorders are also derived from coral. At Coral Vita we learn about coral and see reef restoration in action. As we're guided around the farm, I dip my hands in the aquaculture tanks of the coral cookies and feel amazing little sea critters like starfish in the palm of my hand. So many industries, from cosmetic to medical, let alone biodiverse ecosystems and oceanic structures, are directly dependent on coral reefs, so investment in restoring them is absolutely vital. By the end of my visit, I feel totally compelled to do my part by 'adopting' coral, and leave here feeling some optimism within the urgency, but it is a race against time. For more information on Coral Vita go to: This post appeared first on DINE and Destinations Magazine .
