Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup company that creates net-zero houses as well as areas. It was founded in 2013 as a non-profit business by architect Prasoon Kumar and investor Anurag Srivastava to address the international climate including housing dilemmas.
“ENGIE is focused on increasing Southeast Asia’s energy shift in the direction of carbon neutrality while guaranteeing it continues to be economical, readily available, along with sustainable. By combining budget-friendly housing and solar power development, BillionBricks will certainly assist to attain a reasonable energy transition, and we are pleased to sustain its growth goals,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC and also nation head for Southeast Asia.
The initial BillionBricks neighborhood is going to be launched in the Philippines, enveloping over 16 hectares of land as well as spanning 1,600 homes. The community will also have 13 MW of electrical power generation ability 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 discharges yearly, according to BillionBricks.
Considering that its inception, BillionBricks has already won several honors for its goal and designs, featuring 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 and also executive director, Inderbethal Singh Thakral shares, “I am very excited to see that BillionBricks’ novel technique to dealing with several sustainability obstacles all at once has actually obtained significant traction, and also is embarked on intrude each the renewable energy along with mortgage segments. The effort in BillionBricks is in line with our approach of broadening our aim to consist of effect investing and even add to minimizing ecological burden, while aiding areas in need.”
” BillionBricks is managing multiple sustainability challenges in a single service, and aiming to create a substantial impact with each and every venture,” states BillionBricks CEO Prasoon Kumar.
BillionBricks, a climate-tech investment, has closed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was guided by SGX-listed Thakral Company, that takes part in ENGIE as cornerstone financiers in the startup.
To increase its reach in order to influence, BillionBricks pivoted to end up being a for-profit business in 2020.