Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup that develops net-zero houses and neighborhoods. It was founded in 2013 as a charitable business by architect Prasoon Kumar and investor Anurag Srivastava to deal with the worldwide climate and real estate crises.
BillionBricks, a climate-tech investment, has sealed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was guided by SGX-listed Thakral Corporation, that signs up with ENGIE as mainstay investors in the start-up.
” BillionBricks is undertaking numerous sustainability challenges in a single solution, and aiming to bring in a substantial influence with every single venture,” states BillionBricks chief executive officer Prasoon Kumar.
The very first BillionBricks neighborhood will be introduced in the Philippines, covering over 16 hectares of land and also extending 1,600 homes. The area will also have 13 MW of electrical power generation ability with a utility-scale rooftop solar facility on top of the housing project. The project alone can counter over 7,000 tonnes of carbon dioxide exhausts annually, according to BillionBricks.
To broaden its reach in order to impact, BillionBricks pivoted to become a for-profit company in 2020.
Thakral’s chief executive officer and executive director, Inderbethal Singh Thakral shares, “I am really thrilled to see that BillionBricks’ unique method to dealing with numerous sustainability challenges at the same time has actually acquired significant traction, and is embarked on intrude the two the renewable energy along with real estate sectors. The investment in BillionBricks remains in line with our method of broadening our concentration to consist of effect investing plus add to reducing environmental effect, while aiding neighborhoods in need.”
“ENGIE is concentrated on accelerating Southeast Asia’s power change towards carbon neutrality while making sure it stays cost effective, available, and even lasting. By incorporating inexpensive housing and also solar power development, BillionBricks will aid to achieve a fair power shift, and we are honored to support its growth goals,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC and also country head for Southeast Asia.
Since its creation, BillionBricks has won a number of awards for its goal along with designs, including 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).