Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The very first BillionBricks community is going to be launched in the Philippines, covering up over 16 hectares of land and covering 1,600 residences. The community can also have 13 MW of electrical energy generation capability through a utility-scale roof solar center in addition to the housing property development. The project solely can offset over 7,000 tonnes of carbon dioxide emissions annually, according to BillionBricks.
” BillionBricks is handling numerous sustainability difficulties in a particular solution, and also seeking to bring in a significant effect with each and every venture,” claims BillionBricks chief executive officer Prasoon Kumar.
BillionBricks, a climate-tech project, has closed a US$ 2.45 million ($ 3.3 million) seed funding round. The round was head by SGX-listed Thakral Corporation, that signs up with ENGIE as cornerstone financiers in the startup.
Thakral’s CEO and executive director, Inderbethal Singh Thakral shares, “I am really delighted to see that BillionBricks’ novel approach to tackling numerous sustainability difficulties simultaneously has actually acquired significant traction, and is set to intrude the two the renewable energy and real estate sections. The venture in BillionBricks is in line with our method of expanding our aim to include influence investing and add to lowering environmental impact, whilst helping communities in need.”
To increase its reach and even impact, BillionBricks pivoted to become a for-profit company in 2020.
BillionBricks is a Singaporean start-up that creates net-zero homes and also communities. It was opened in 2013 as a charitable company by designer Prasoon Kumar and investor Anurag Srivastava to address the worldwide climate together with casing situations.
Given that its inception, BillionBricks has already won several awards for its goal along with layouts, consisting of 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).
“ENGIE is concentrated on accelerating Southeast Asia’s power shift towards carbon neutrality while making sure it stays inexpensive, available, along with sustainable. By incorporating budget-friendly housing and also solar power development, BillionBricks will certainly aid to accomplish a reasonable power transition, and we are honored to sustain its development objectives,” states Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC also nation head for Southeast Asia.
