Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean start-up that develops net-zero homes as well as neighborhoods. It was founded in 2013 as a charitable firm by architect Prasoon Kumar and investor Anurag Srivastava to address the international climate together with housing situations.
To increase its reach and impact, BillionBricks pivoted to come to be a for-profit business in 2020.
” BillionBricks is undertaking several sustainability obstacles in a sole option, plus aiming to make a substantial influence with each and every work,” claims BillionBricks CEO Prasoon Kumar.
BillionBricks, a climate-tech project, has closed up a US$ 2.45 million ($ 3.3 million) seed funding round. The round was guided by SGX-listed Thakral Company, who joins ENGIE as mainstay capitalists in the startup.
The initial BillionBricks area is going to be launched in the Philippines, covering over 16 hectares of land and extending 1,600 homes. The neighborhood is going to also have 13 MW of electricity generation capacity via a utility-scale roof solar center in addition to the housing property development. The project alone can balance out over 7,000 tonnes of co2 exhausts each year, according to BillionBricks.
Thakral’s chief executive officer as well as executive head, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ novel approach to taking on multiple sustainability obstacles simultaneously has obtained considerable traction, also is readied to disrupt both the renewable energy along with real estate segments. The venture in BillionBricks remains in line with our method of growing our aim to include impact investing and even help in lowering environmental effect, whilst aiding neighborhoods in need.”
Since its inception, BillionBricks has already won several awards for its mission also designs, including 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 energy transition towards carbon neutrality while guaranteeing it remains affordable, available, along with self-sufficient. By integrating affordable housing and solar power manufacturing, BillionBricks will assist to accomplish a reasonable energy change, furthermore we are honored to assist its growth objectives,” states Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and also nation head for Southeast Asia.