Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks, a climate-tech venture, has sealed a US$ 2.45 million ($ 3.3 million) seed funding round. The round was head by SGX-listed Thakral Company, who joins ENGIE as cornerstone capitalists in the startup.
Given that its inception, BillionBricks has already won several awards for its mission along with designs, 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).
Thakral’s CEO as well as executive director, Inderbethal Singh Thakral shares, “I am very thrilled to see that BillionBricks’ unique strategy to dealing with numerous sustainability obstacles simultaneously has actually acquired considerable traction, and is readied to break up the two the renewable resource and even real estate segments. The effort in BillionBricks remains in line with our strategy of expanding our aim to include impact investing plus add to lowering ecological impact, whilst aiding neighborhoods in need.”
BillionBricks is a Singaporean startup that develops net-zero houses and communities. It was founded in 2013 as a charitable company by designer Prasoon Kumar and investor Anurag Srivastava to resolve the international environment including casing dilemmas.
The initial BillionBricks community is going to be introduced in the Philippines, covering over 16 hectares of land and spanning 1,600 homes. The area will also have 13 MW of electrical power generation capacity with a utility-scale rooftop solar center on top of the housing project. The project solely can offset over 7,000 tonnes of co2 emissions yearly, according to BillionBricks.
“ENGIE is focused on speeding up Southeast Asia’s energy shift in the direction of carbon neutrality while making sure it stays affordable, available, and even self-sufficient. By incorporating affordable real estate and also solar energy manufacturing, BillionBricks will certainly help to attain a fair power transition, moreover we are proud to sustain its growth goals,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC also nation head for Southeast Asia.
To increase its reach in order to effect, BillionBricks pivoted to end up being a for-profit firm in 2020.
” BillionBricks is taking on multiple sustainability obstacles in a particular solution, and also aiming to create a significant influence with each and every venture,” says BillionBricks chief executive officer Prasoon Kumar.
