Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks, a climate-tech venture, has closed up a US$ 2.45 million ($ 3.3 million) seed funding round. The round was guided by SGX-listed Thakral Firm, who joins ENGIE as mainstay capitalists in the start-up.
” BillionBricks is undertaking several sustainability difficulties in a single remedy, and seeking to create a considerable effect with every single venture,” says BillionBricks CEO Prasoon Kumar.
Since its creation, BillionBricks has actually won several awards for its mission and styles, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), plus the 2022 INDE.Awards (Australia).
“ENGIE is focused on accelerating Southeast Asia’s energy shift in the direction of carbon neutrality while making sure it remains budget-friendly, readily available, and even self-sufficient. By integrating budget friendly housing and solar energy production, BillionBricks will assist to achieve a reasonable energy change, moreover we are honored to sustain its progression objectives,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC and nation head for Southeast Asia.
BillionBricks is a Singaporean startup that develops net-zero residences and also communities. It was founded in 2013 as a charitable company by designer Prasoon Kumar and venture capitalist Anurag Srivastava to attend to the international environment and real estate dilemmas.
The very first BillionBricks area will be launched in the Philippines, covering over 16 hectares of land and extending 1,600 homes. The neighborhood will also have 13 MW of electrical energy generation capability with a utility-scale rooftop solar center on top of the housing property development. The project alone can offset over 7,000 tonnes of carbon dioxide transmissions every year, according to BillionBricks.
To broaden its reach and impact, BillionBricks pivoted to become a for-profit business in 2020.
Thakral’s CEO as well as executive director, Inderbethal Singh Thakral shares, “I am very excited to see that BillionBricks’ uncommon approach to tackling several sustainability obstacles all at once has obtained substantial traction, and also is set to break up each the renewable resource and even mortgage sections. The investment in BillionBricks is in line with our technique of expanding our concentration to feature influence investing plus help in decreasing ecological impact, whilst helping communities in need.”
