Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup that develops net-zero homes and also areas. It was founded in 2013 as a non-profit firm by designer Prasoon Kumar plus venture capitalist Anurag Srivastava to attend to the global environment including housing dilemmas.
To broaden its range in order to effect, BillionBricks pivoted to become a for-profit business in 2020.
“ENGIE is focused on speeding up Southeast Asia’s energy transition towards carbon neutrality while ensuring it continues to be cost effective, available, along with self-sufficient. By incorporating affordable real estate and also solar power development, BillionBricks will assist to achieve a fair energy change, and we are proud to support its development objectives,” says Thomas Baudlot, CEO for ENGIE energy solutions APAC and also country head for Southeast Asia.
BillionBricks, a climate-tech investment, has closed up a US$ 2.45 million ($ 3.3 million) seed capital round. The round was led by SGX-listed Thakral Firm, who signs up with ENGIE as cornerstone investors in the start-up.
Given that its inception, BillionBricks has won a number of awards for its objective also layouts, including 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).
The very first BillionBricks community is going to be introduced in the Philippines, covering up over 16 hectares of land and also covering 1,600 homes. The community will also have 13 MW of electrical energy generation capability via a utility-scale roof solar facility on top of the housing development. The project by itself can counter over 7,000 tonnes of carbon dioxide emissions annually, according to BillionBricks.
Thakral’s CEO as well as executive director, Inderbethal Singh Thakral shares, “I am extremely excited to see that BillionBricks’ unique method to taking on numerous sustainability obstacles simultaneously has actually obtained considerable traction, and is readied to break up each the renewable energy and even housing sectors. The venture in BillionBricks is in line with our method of increasing our aim to include effect investing and even help in decreasing environmental effect, while helping communities in need.”
” BillionBricks is managing numerous sustainability challenges in a single remedy, and wanting to create a significant influence with each and every work,” says BillionBricks chief executive officer Prasoon Kumar.
