Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup company that develops net-zero homes and also neighborhoods. It was established in 2013 as a non-profit business by engineer Prasoon Kumar along with investor Anurag Srivastava to deal with the worldwide climate together with casing situations.
“ENGIE is concentrated on increasing Southeast Asia’s power transition in the direction of carbon neutrality while guaranteeing it remains budget-friendly, offered, and lasting. By integrating inexpensive real estate and solar power development, BillionBricks will certainly assist to accomplish a fair power shift, moreover we are pleased to sustain its growth goals,” says Thomas Baudlot, CEO for ENGIE energy solutions APAC also country head for Southeast Asia.
Thakral’s chief executive officer and executive director, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ novel approach to tackling several sustainability difficulties concurrently has actually gotten substantial traction, also is embarked on disrupt each the renewable energy and housing segments. The venture in BillionBricks remains in line with our strategy of increasing our focus to feature effect investing and even contribute to reducing environmental effect, whilst helping areas in need.”
” BillionBricks is undertaking multiple sustainability challenges in a particular remedy, and also aiming to make a considerable influence with every single venture,” says BillionBricks CEO Prasoon Kumar.
BillionBricks, a climate-tech project, has sealed a US$ 2.45 million ($ 3.3 million) seed funding round. The round was guided by SGX-listed Thakral Corporation, who signs up with ENGIE as mainstay capitalists in the startup.
The very first BillionBricks community is going to be introduced in the Philippines, covering up over 16 hectares of land and covering 1,600 residences. The neighborhood can also have 13 MW of electrical power generation capacity via a utility-scale rooftop solar center in addition to the housing project. The project alone can balance out over 7,000 tonnes of carbon dioxide transmissions yearly, according to BillionBricks.
To increase its reach and even influence, BillionBricks pivoted to come to be a for-profit firm in 2020.
Given that its creation, BillionBricks has actually won several honors for its mission also styles, featuring the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), plus the 2022 INDE.Awards (Australia).