Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup that establishes net-zero homes and communities. It was established in 2013 as a non-profit company by architect Prasoon Kumar plus investor Anurag Srivastava to resolve the worldwide climate including housing dilemmas.
“ENGIE is focused on speeding up Southeast Asia’s power change in the direction of carbon neutrality while ensuring it stays affordable, readily available, and even lasting. By incorporating budget-friendly housing and solar energy production, BillionBricks will help to accomplish a reasonable energy transition, moreover we are honored to sustain its development objectives,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC also country head for Southeast Asia.
Since its beginning, BillionBricks has already won several honors for its goal along with styles, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), plus the 2022 INDE.Awards (Australia).
” BillionBricks is managing multiple sustainability difficulties in a sole solution, and looking to make a significant effect with every single venture,” states BillionBricks chief executive officer Prasoon Kumar.
Thakral’s CEO as well as executive head, Inderbethal Singh Thakral shares, “I am very excited to see that BillionBricks’ uncommon strategy to tackling several sustainability challenges simultaneously has actually acquired significant traction, and is readied to disrupt each the renewable resource and mortgage sections. The venture in BillionBricks remains in line with our method of broadening our focus to feature influence investing and even add to lowering ecological impact, while assisting communities in need.”
BillionBricks, a climate-tech investment, has closed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was head by SGX-listed Thakral Company, who takes part in ENGIE as mainstay financiers in the startup.
To increase its scope in order to impact, BillionBricks pivoted to end up being a for-profit business in 2020.
The very first BillionBricks community will be launched in the Philippines, covering up over 16 hectares of land and extending 1,600 homes. The community is going to also have 13 MW of electricity generation capability through a utility-scale roof solar center on top of the housing development. The project alone can counter over 7,000 tonnes of co2 transmissions yearly, according to BillionBricks.