Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup that develops net-zero homes as well as communities. It was opened in 2013 as a charitable business by designer Prasoon Kumar along with investor Anurag Srivastava to resolve the international environment together with casing crises.
BillionBricks, a climate-tech venture, has closed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was guided by SGX-listed Thakral Company, who takes part in ENGIE as cornerstone financiers in the start-up.
Thakral’s chief executive officer as well as executive director, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ unique method to dealing with numerous sustainability challenges all at once has actually gotten considerable traction, and also is embarked on break up the two the renewable energy along with housing segments. The effort in BillionBricks remains in line with our approach of expanding our concentration to consist of influence investing and contribute to lowering environmental impact, whilst assisting neighborhoods in need.”
To broaden its scope and even effect, BillionBricks pivoted to become a for-profit company in 2020.
The initial BillionBricks area will be launched in the Philippines, covering over 16 hectares of land and spanning 1,600 houses. The neighborhood can also have 13 MW of electrical power generation capacity through a utility-scale roof solar center in addition to the housing project. The project alone can counter over 7,000 tonnes of co2 discharges annually, according to BillionBricks.
“ENGIE is concentrated on increasing Southeast Asia’s energy transition in the direction of carbon neutrality while ensuring it remains affordable, readily available, and even sustainable. By combining affordable housing and also solar energy production, BillionBricks will assist to attain a fair energy change, and we are honored to support its progression objectives,” states Thomas Baudlot, CEO for ENGIE energy solutions APAC also country head for Southeast Asia.
” BillionBricks is taking on multiple sustainability difficulties in a single option, plus wanting to bring in a substantial impact with every single work,” claims BillionBricks chief executive officer Prasoon Kumar.
Given that its inception, BillionBricks has actually won numerous honors for its mission also layouts, featuring the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), also the 2022 INDE.Awards (Australia).
