Coral Secures $3 Million Pre-Seed Funding for AI and Blockchain Climate Tech Expansion

Coral Secures $3 Million in Pre-Seed Funding for Climate Technology Advancement

On September 27, 2023, Coral, a pioneering company in the realm of blockchain and AI climate technology, announced a significant milestone in its journey by completing a $3 million pre-seed funding round. This funding is set to propel Coral's initiatives aimed at combating climate change and advancing sustainable practices.

Funding Details and Future Plans

Despite the positive developments, Coral has chosen to keep the identities of its investors and the specifics regarding the valuation under wraps for the time being. What’s clear, however, is how this infusion of capital will be utilized:

• Expansion to Abu Dhabi: Coral plans to open a new office in Abu Dhabi as part of its growth strategy.
• Expert Recruitment: The company aims to hire additional experts to bolster its team.
• Enhanced AI Capabilities: Investment in its AI platform will be a key focus, allowing for improved technology integration.
• Improvement of Blockchain Solutions: The funding will also aid in enhancing Coral's blockchain-based carbon emission management platform.

The Role of Blockchain in Carbon Management

Coral’s innovative platform utilizes blockchain technology to ensure full lifecycle traceability of carbon credits. This means that businesses can track the origin and utilization of carbon credits more transparently, enhancing their ability to manage emissions effectively. By employing blockchain, Coral aims to bring greater accountability and reliability to the carbon credit market.

Conclusion

The completion of this funding round marks a promising step forward for Coral as it seeks to leverage advanced technologies in the fight against climate change. With plans for expansion and enhancement of its platform, the company is well-positioned to make a significant impact in the climate technology sector.

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