Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup company that establishes net-zero houses as well as neighborhoods. It was opened in 2013 as a charitable firm by designer Prasoon Kumar and investor Anurag Srivastava to resolve the global climate and housing dilemmas.
The initial BillionBricks neighborhood will be introduced in the Philippines, enveloping over 16 hectares of land and extending 1,600 residences. The neighborhood will also have 13 MW of power generation capability through a utility-scale roof solar facility in addition to the housing property development. The project by itself can counter over 7,000 tonnes of carbon dioxide exhausts yearly, according to BillionBricks.
” BillionBricks is undertaking multiple sustainability difficulties in a particular option, plus seeking to bring in a significant influence with each and every project,” states BillionBricks CEO Prasoon Kumar.
BillionBricks, a climate-tech investment, has closed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was led by SGX-listed Thakral Company, who joins ENGIE as cornerstone financiers in the startup.
Given that its inception, BillionBricks has already won several awards for its mission along with styles, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), and even the 2022 INDE.Awards (Australia).
To increase its scope and even effect, BillionBricks pivoted to come to be a for-profit firm in 2020.
Thakral’s chief executive officer as well as executive director, Inderbethal Singh Thakral shares, “I am very delighted to see that BillionBricks’ uncommon method to tackling multiple sustainability obstacles concurrently has actually obtained significant traction, and is readied to disrupt both the renewable energy along with real estate segments. The venture in BillionBricks is in line with our method of broadening our focus to feature effect investing plus help in reducing ecological impact, whilst aiding areas in need.”
“ENGIE is focused on speeding up Southeast Asia’s energy change towards carbon neutrality while ensuring it remains budget friendly, offered, and sustainable. By combining budget-friendly housing and also solar energy production, BillionBricks will aid to attain a reasonable energy change, and we are proud to assist its progression objectives,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC and also nation head for Southeast Asia.