Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
Since its creation, BillionBricks has already won a number of awards for its mission also layouts, including the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), also the 2022 INDE.Awards (Australia).
The initial BillionBricks community is going to be released in the Philippines, covering over 16 hectares of land and covering 1,600 homes. The area can also have 13 MW of electricity generation capacity with a utility-scale roof solar facility on top of the housing property development. The project by itself can counter over 7,000 tonnes of co2 emissions every year, according to BillionBricks.
To increase its scope and even influence, BillionBricks pivoted to come to be a for-profit company in 2020.
BillionBricks is a Singaporean start-up that creates net-zero residences and communities. It was opened in 2013 as a charitable firm by engineer Prasoon Kumar plus investor Anurag Srivastava to attend to the global environment and casing crises.
“ENGIE is focused on accelerating Southeast Asia’s power transition towards carbon neutrality while guaranteeing it continues to be budget-friendly, offered, and even lasting. By combining cost effective housing and solar power production, BillionBricks will certainly assist to accomplish a fair energy shift, and we are honored to assist its development objectives,” says Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and also nation head for Southeast Asia.
BillionBricks, a climate-tech venture, has sealed a US$ 2.45 million ($ 3.3 million) seed funding round. The round was led by SGX-listed Thakral Firm, who takes part in ENGIE as mainstay capitalists in the start-up.
” BillionBricks is managing numerous sustainability obstacles in a single service, and wanting to make a significant effect with every single venture,” claims BillionBricks CEO Prasoon Kumar.
Thakral’s chief executive officer and also executive director, Inderbethal Singh Thakral shares, “I am very excited to see that BillionBricks’ novel strategy to dealing with numerous sustainability obstacles at the same time has gotten considerable traction, and also is readied to break up each the renewable energy and even housing segments. The venture in BillionBricks remains in line with our strategy of increasing our concentration to consist of impact investing and even contribute to decreasing environmental burden, while helping neighborhoods in need.”