[ad_1]
The investment marks the fifth anniversary of Habitat’s Shelter Venture Fund, which has already disbursed US$3 million in equity to 11 housing innovations
Phnom Penh, Cambodia, Aug 11, 2022 – (ACN Newswire) – Habitat for Humanity’s Terwilliger Center for Innovation in Shelter announced today a US$300,000 equity investment in TapEffect, a Cambodia-based startup which provides clean and affordable tap water to underserved rural and semi-rural communities. The investment also marks the fifth anniversary of Habitat’s Shelter Venture Fund, launched in 2017 to accelerate innovative startups tackling affordable housing challenges worldwide.
 |
Full story available on Benzinga.com [ad_2]
It is estimated that 110 million people in Southeast Asia lack access to safe drinking water. In Cambodia, one third of the population rely on water from impure sources. TapEffect, founded in 2018, started from the desire to bring safe water to rural communities in Cambodia, while addressing the systemic barriers often faced by local providers, such as set-up costs and ongoing maintenance. The company designs, builds and operates self-sustaining piped water systems that can each support more than 10,000 people, and uses Internet of Things technology for remote monitoring and payment management, which reduces cost and increases operational efficiencies.
TapEffect offers a market-based solution where families pay a fraction of the cost for water compared to bottled or truck-in water options. Their initial demonstration system, built in 2020, serves over 14,000 people in 19 villages, and connects 12 schools and two healthcare facilities to clean and safe water.
Source link
