Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks, a climate-tech project, has sealed a US$ 2.45 million ($ 3.3 million) seed funding round. The round was head by SGX-listed Thakral Firm, who signs up with ENGIE as cornerstone investors in the startup.
Thakral’s chief executive officer and also executive director, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ novel method to tackling numerous sustainability obstacles at the same time has gotten considerable traction, also is readied to break up the two the renewable resource and real estate sectors. The venture in BillionBricks is in line with our approach of increasing our aim to feature impact investing and add to decreasing environmental burden, while assisting areas in need.”
Considering that its creation, BillionBricks has actually won several honors for its objective 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).
” BillionBricks is managing multiple sustainability challenges in a sole service, and aiming to make a significant effect with every single project,” states BillionBricks chief executive officer Prasoon Kumar.
The initial BillionBricks neighborhood will be released in the Philippines, covering over 16 hectares of land as well as covering 1,600 houses. The neighborhood can also have 13 MW of power generation capability via a utility-scale rooftop solar center on top of the housing development. The project solely can counter over 7,000 tonnes of carbon dioxide exhausts every year, according to BillionBricks.
To expand its reach and influence, BillionBricks pivoted to become a for-profit firm in 2020.
BillionBricks is a Singaporean startup company that establishes net-zero houses and areas. It was founded in 2013 as a non-profit firm by engineer Prasoon Kumar and investor Anurag Srivastava to attend to the global environment and housing dilemmas.
“ENGIE is focused on accelerating Southeast Asia’s energy change towards carbon neutrality while making sure it remains inexpensive, available, and self-sufficient. By integrating affordable housing and also solar power manufacturing, BillionBricks will assist to accomplish a reasonable energy transition, furthermore we are pleased to assist its progression objectives,” claims Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and also country head for Southeast Asia.