Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The initial BillionBricks area will be released in the Philippines, covering over 16 hectares of land as well as spanning 1,600 houses. The community can also have 13 MW of power generation ability through a utility-scale roof solar center in addition to the housing development. The project solely can counter over 7,000 tonnes of co2 emissions each year, according to BillionBricks.
Thakral’s CEO as well as executive head, Inderbethal Singh Thakral shares, “I am really thrilled to see that BillionBricks’ unique strategy to taking on numerous sustainability challenges at the same time has actually gained substantial traction, also is readied to disrupt the two the renewable resource and housing segments. The venture in BillionBricks is in line with our method of broadening our concentration to feature effect investing plus add to minimizing ecological burden, whilst helping neighborhoods in need.”
To expand its scope in order to influence, BillionBricks pivoted to come to be a for-profit business in 2020.
BillionBricks is a Singaporean startup that establishes net-zero residences as well as neighborhoods. It was established in 2013 as a charitable business by engineer Prasoon Kumar along with venture capitalist Anurag Srivastava to deal with the worldwide climate and real estate crises.
” BillionBricks is taking on numerous sustainability difficulties in a single option, and wanting to make a significant impact with each and every venture,” claims BillionBricks chief executive officer Prasoon Kumar.
“ENGIE is focused on speeding up Southeast Asia’s power transition in the direction of carbon neutrality while ensuring it remains cost effective, offered, and even self-sufficient. By incorporating affordable housing as well as solar power development, BillionBricks will certainly help to attain a fair energy change, moreover we are pleased to sustain its development goals,” says Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and nation head for Southeast Asia.
Since its beginning, BillionBricks has actually won numerous honors for its goal also layouts, featuring 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, a climate-tech project, has closed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was guided by SGX-listed Thakral Firm, that joins ENGIE as mainstay investors in the start-up.
