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"Truecaller is a perfect fit for Open Ocean Fund Three's investment focus, developing a rapidly scalable business on the basis of a crowdsourcing strategy and high virality," says Ralf Wahlsten Open Ocean Partner in a statement.
"In particular, the confluence of factors such as proximity to universities like UCL, Cambridge and Imperial; the strength of the fintech sector and global leadership of the local digital media & ad tech sectors means that the 'hard tech', data-driven software ventures targeted by the Open Ocean fund are in increasing abundance".
The money raised from these sculptures goes to La Mer's Blue Heart Ocean Fund and Project 0, a group whose stated goals are to "Put 30% of the ocean under protection by 2030, rebuild coral reefs and mangrove forests, clean up the ocean, restore fisheries, [and] fund innovative projects that protect and restore the ocean".
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"Because NSF ocean funding is 'unlikely to grow significantly over the next decade,' the report says, 'the only way to recover funding for core science … is to reduce the amount of money spent on infrastructure,' " including new ships and fixed seafloor observatories.
Learn more about Project 0 here and the La Mer Blue Heart Oceans Fund here.
The Series A funding comes from Open Ocean's Fund Three fund which focuses on community and open source software ventures.
Financial support for this work was provided by the Ocean Life Institute Tropical Research Initiative Grant WHOII) to KEW and MEH; the Robert H. Cole Endowed Ocean Ventures Fund (WHOI) to KEW; the National Undersea Research Center - Program Development Proposal (CMRC-03PRMN0103A) to KEW and a National Science Foundation Graduate Research Fellowship to KEW.
Along with the Cornwall project, Carnegie has been working with the government in Mauritius – an island nation of about 1.3 million people in the Indian Ocean – using funding from Australia's Department of Foreign Affairs and Trade.
"Clearly we're not 'going it alone,' " says Rodey Batiza of the National Science Foundation, the U.S. ocean drilling funding agency.
And in this Nirvana world, instead of oil gushing from a defective well 5,000 feet under the surface of the ocean, abundant funds gush in from investors around the world, driving the costs of clean energy far below the true (or even the subsidized) costs of the dirty stuff.
In September 2004, the U.S. Commission on Ocean Policy, a presidential panel chaired by retired admiral James Watkins, recommended that Congress boost ocean research funding, improve fisheries management, and consolidate federal oversight over ocean policy.
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