Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
To increase its reach and impact, BillionBricks pivoted to come to be a for-profit business in 2020.
BillionBricks is a Singaporean startup company that establishes net-zero homes and communities. It was founded in 2013 as a non-profit firm by architect Prasoon Kumar plus investor Anurag Srivastava to resolve the global climate and real estate crises.
“ENGIE is focused on increasing Southeast Asia’s power change towards carbon neutrality while ensuring it continues to be budget-friendly, readily available, along with self-sufficient. By integrating budget-friendly real estate and solar energy production, BillionBricks will help to accomplish a reasonable power transition, and we are proud to assist its development goals,” claims Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC also country head for Southeast Asia.
The initial BillionBricks area will be launched in the Philippines, covering up over 16 hectares of land and extending 1,600 residences. The neighborhood is going to also have 13 MW of electricity generation capacity with a utility-scale roof solar center on top of the housing property development. The project solely can balance out over 7,000 tonnes of co2 emissions yearly, according to BillionBricks.
” BillionBricks is managing multiple sustainability obstacles in a particular solution, and also wanting to create a significant influence with every venture,” claims BillionBricks chief executive officer Prasoon Kumar.
BillionBricks, a climate-tech investment, has sealed a US$ 2.45 million ($ 3.3 million) seed funding round. The round was guided by SGX-listed Thakral Firm, who takes part in ENGIE as cornerstone investors in the start-up.
Since its creation, BillionBricks has won numerous honors for its goal also designs, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), also 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 technique to taking on multiple sustainability difficulties concurrently has obtained substantial traction, also is readied to disrupt each the renewable energy and housing segments. The venture in BillionBricks is in line with our strategy of growing our focus to include impact investing and even help in minimizing environmental effect, while helping neighborhoods in need.”