Dallas Mavericks owner Mark Cuban is the latest investor to back Miami-based Kind Designs, the maker of 3D-printed seawalls designed to protect coastal communities.
Cuban and Anthropocene Ventures, a venture capital firm that invests in early stage climate tech companies, both joined the startup's seed funding round. The capital will allow Kind Designs to triple its production capacity and grow its team.
Founder and CEO Anya Freeman said the support of investors like Cuban "is a huge vote of confidence in our mission to regenerate marine ecosystems and protect coastal communities."
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Kind Designs' seawalls are made to mimic coral reefs and mangroves. That makes it possible for the structures to protect shorelines from flooding while creating an ecosystem for marine life. The seawalls are also embedded with sensor systems to collect water quality data.
In September, the startup closed a $5 million seed round to scale the venture. Cuban and Anthropocene contributed to that round, according to a news release. Kind Designs did not specify how much they invested.
“Kind Designs surpasses our criteria with its immediate real-world application, clear business model, path to revenue, and the merging of nature's smarts through biomimicry with 3D printing technology," said Matthew McGraw, managing partner for Anthropecene Ventures
Coastal cities around the world are at imminent risk from flooding caused by rising sea levels. Local and federal agencies expect to spend hundreds of billions of dollars on seawall construction as a result, Kind Designs reports. The company claims its 3D-printing system can cut seawall production time by 95% compared to traditional building methods.
Five months after opening its warehouse, Kind Designs is fully operational and reports it will deliver its first seawall panels this month. The firm recently hired its tenth full-time employee and appointed Jeremy Morris as COO.
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Moving forward, the startup aims to work with government agencies to offer tax incentives on the county, state and federal level for its seawalls. The program will be similar to tax credits already in place for solar energy and electric vehicle adoption.
"We are positioned to propel Kind Designs into a massive global business, while simultaneously making an immense environmental impact," Freeman said.
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