(L-R) Archireef Co-Founders Deniz Tekerek, Vriko Yu, and David Baker
Singapore-based VC firms Purpose Venture Capital and Carbon Zero have invested an undisclosed amount in Hong Kong-headquartered marine tech company Archireef.
Archireef was co-founded by Vriko Yu, Deniz Tekerek, and Dr David Baker.
The startup 3D-prints reef tiles made from natural materials through proprietary algorithms. The tiles are made from a terracotta-based mixture, an ocean-friendly material based on a hexagonal modular system to allow easy expansion.
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The design utilises a bio-mimetic approach to enhance coral survivorship and growth. Archireef reef tiles are currently 4x more effective than any alternative.
Its 3D-printed terracotta-based reef tiles have recently been deployed to aid coral restoration in the Arabian Gulf off the shore of Abu Dhabi with a partnership with Abu Dhabi-based investment and holding company ADQ and the Environment Agency – Abu Dhabi (EAD).
The broader partnership between ADQ and Archireef, announced in November 2022, funds the R&D of eco-engineering solutions for marine biodiversity restoration, combining scientific research with the latest 3D printing and AI technologies.
Archireef CEO Vriko Yu said: “We have already lost 50 per cent of the world’s coral cover since 1950, and if nothing changes, we will lose up to 90 per cent by 2050. By adopting a new Global Biodiversity Framework in Montreal, 196 countries committed to protecting at least 30 per cent of Earth’s lands, inland waters, coastal areas and ocean by 2030 to ensure that natural capital is sustained for inter-generational prosperity. It is estimated that US$140 billion in annual financing will be required. We need innovative financing arrangements needed to deliver on this bold ambition.”
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“We firmly believe that nature and technology can inspire innovations in how we approach solving climate issues from prevention to mitigation, especially to enhance biodiversity. Archireef is a rare company in the nature-based solutions spectrum with a scalable and profitable business model,” said Sharon Sim, Co-Founder and General Partner in Purpose Venture Capital.
Purpose Venture Capital, co-founded by Sharon Sim, Sertac Yeltekin, and Von Leong, supports early-stage sustainable tech companies. The firm invests globally with a focus on Southeast Asian-based startups. Its portfolio companies include Zumvet (digital animal health services), Igloocompany (a secure access management platform for smart cities, infrastructure and properties) and HydraX (regulatory-compliant and sustainable financial infrastructure for capital markets of the future).
Carbon Zero Venture Capital is a climate change investor, providing long-term capital and support to environmental companies using innovation to create a cleaner and more equitable world. Its recent investments include Seppure and Vflowtech.
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