Eco-friendly marine infrastructure startup ECOncrete Tech Ltd. has raised a $5 million series A funding round, the company announced Thursday. The funding round was led by Bridges Israel with participation from technology investment house Goldacre.
Founded in 2012 by marine ecologists Shimrit Perkol-Finkel and Ido Sella, Tel Aviv-based ECOncrete manufactures concrete structures that accelerate the growth of marine plants and animals, including fish, coral reefs, seaweed, and sea anemone. ECOncrete develops a bio-enhancing material, which it adds to its concrete mix to reduce its carbon footprint and encourage fauna and flora growth. The structures are designed with crevices and textures that mimic natural surfaces such as rocks to encourage living organisms to develop on their surface.