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Habitat for Humanity invests in Cambodian water-access startup TapEffect



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 gives clean and affordable plain 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.

It’s estimated that 110 million people in Southeast Asia lack usage of safe normal water. In Cambodia, 1 / 3 of the populace depend on water from impure sources. TapEffect, founded in 2018, started from the need to bring safe water to rural communities in Cambodia, while addressing the systemic barriers often faced by local providers, such as for example set-up costs and ongoing maintenance. The business designs, builds and operates self-sustaining piped water systems that may each support a lot 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 supplies a market-based solution where families pay a fraction of the price for water in comparison 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 completely clean and safe water.

“TapEffect’s model combines technology, engineering and blended finance to produce a holistic approach which can be easily replicated. By using local contractors and construction teams, we also build capacity within local communities,” said Hourt Vuthy, general manager at TapEffect. “We’ve been partnering with Habitat for Humanity since joining the ShelterTech Southeast Asia accelerator in 2020. The investment will bring the perfect solution is to more families over the region who still lack usage of clean water and sanitation.” TapEffect can be an investee of World Hope Social Ventures, which supports market-based, community-driven enterprise solutions.

Habitat’s Shelter Venture Fund aims to nurture businesses with solutions that may improve housing conditions for low-income families. “We realized that high-potential enterprises often face a pioneer gap within their first stages of growth, if they are believed too risky by impact investors,” said Luis Noda, Habitat for Humanity’s Asia-Pacific vice president. “Through the Fund, we also send a note to the marketplace that profitable opportunities exist in supporting entrepreneurs which are driving social change through innovation.”

Twelve startups have obtained investments from the Shelter Venture Fund up to now globally, supporting over 5 million people in accessing improved housing-related services and products. The portfolio includes Tvasta – builder of India’s first 3D-printed house; Meridia – which uses mobile-based technology to boost land documentation and tenure security in Africa and Asia; and BURN – which impacts lives and the surroundings through the look, manufacturing and distribution of clean-burning cook stoves.

Since its launch, Shelter Venture Fund investees have catalyzed over US$34 million in further investments. At the moment, 40% of the portfolio targets solutions which are less damaging to the surroundings than market alternatives, such as for example water saving and reduced carbon emission technologies. The 12 ventures may also be in charge of the creation of over 600 jobs in the locations where they operate.

About Habitat’s Terwilliger Center for Innovation in Shelter

The Terwilliger Center for Innovation in Shelter, a unit of Habitat for Humanity International, works together with housing marketplace systems by supporting local firms and expanding innovative and client-responsive services, products and financing in order that households can enhance their shelter better and efficiently. The best goal of the Terwilliger Center’s market systems program would be to make housing markets work better for people looking for decent, affordable shelter, thereby improving the standard of life for low-income households. To find out more, visit habitat.org/tcis.

About Habitat for Humanity

Driven by the vision that everyone requires a decent spot to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in South Georgia, U.S.A. Since its founding in 1976, the housing organization has since grown to become leading global nonprofit employed in a lot more than 70 countries. In the Asia-Pacific region since 1983, Habitat for Humanity has supported thousands of people to create or improve a location they are able to call home. Through financial support, volunteering or adding a voice to aid affordable housing, everyone might help families achieve the strength, stability and self-reliance they have to build better lives for themselves. Through shelter, we empower. To find out more, donate or volunteer, visit habitat.org/asiapacific.

To create interviews, receive photos or more info, please contact:

Julia Ferraz

jferraz@habitat.org

+852 61001806

Topic:News release summary

Source: Habitat for Humanity International


Sectors:Environment, ESG

http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


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