Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup that establishes net-zero homes as well as neighborhoods. It was established in 2013 as a charitable firm by designer Prasoon Kumar along with investor Anurag Srivastava to address the worldwide environment including real estate dilemmas.
The initial BillionBricks area is going to be released in the Philippines, covering over 16 hectares of land and also extending 1,600 homes. The neighborhood can also have 13 MW of electrical power generation capability through a utility-scale rooftop solar center in addition to the housing property development. The project solely can balance out over 7,000 tonnes of co2 emissions every year, according to BillionBricks.
Thakral’s CEO as well as executive director, Inderbethal Singh Thakral shares, “I am extremely excited to see that BillionBricks’ uncommon strategy to dealing with several sustainability difficulties simultaneously has actually obtained significant traction, and is set to intrude each the renewable energy and housing segments. The venture in BillionBricks remains in line with our strategy of broadening our concentration to consist of effect investing plus add to decreasing environmental effect, while assisting neighborhoods in need.”
To broaden its range and impact, BillionBricks pivoted to come to be a for-profit firm in 2020.
Since its beginning, BillionBricks has actually won several awards for its mission also layouts, featuring the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), also the 2022 INDE.Awards (Australia).
” BillionBricks is handling multiple sustainability difficulties in a sole remedy, and also seeking to make a substantial impact with every project,” states BillionBricks chief executive officer Prasoon Kumar.
BillionBricks, a climate-tech investment, has sealed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was head by SGX-listed Thakral Corporation, who signs up with ENGIE as cornerstone investors in the start-up.
“ENGIE is focused on increasing Southeast Asia’s power shift towards carbon neutrality while guaranteeing it stays inexpensive, readily available, along with lasting. By combining budget-friendly housing as well as solar energy manufacturing, BillionBricks will aid to attain a reasonable power shift, moreover we are pleased to support its progression goals,” says Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC also country head for Southeast Asia.
