Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean start-up that establishes net-zero residences and areas. It was established in 2013 as a non-profit firm by engineer Prasoon Kumar along with investor Anurag Srivastava to resolve the global environment together with real estate situations.
The first BillionBricks community will be launched in the Philippines, enveloping over 16 hectares of land and covering 1,600 homes. The community will also have 13 MW of electrical power generation capacity with a utility-scale rooftop solar center on top of the housing development. The project by itself can balance out over 7,000 tonnes of carbon dioxide exhausts each year, according to BillionBricks.
Thakral’s CEO and executive head, Inderbethal Singh Thakral shares, “I am very excited to see that BillionBricks’ novel method to taking on several sustainability challenges all at once has actually obtained considerable traction, and also is readied to disrupt both the renewable resource and even housing sectors. The effort in BillionBricks remains in line with our approach of increasing our concentration to consist of influence investing and even help in minimizing environmental burden, while helping neighborhoods in need.”
To broaden its scope and even impact, BillionBricks pivoted to end up being a for-profit company in 2020.
“ENGIE is concentrated on increasing Southeast Asia’s power shift in the direction of carbon neutrality while ensuring it stays budget-friendly, available, and even lasting. By combining economical real estate and solar power production, BillionBricks will aid to accomplish a fair power shift, moreover we are proud to support its progression goals,” states Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC also nation head for Southeast Asia.
” BillionBricks is handling numerous sustainability challenges in a sole remedy, and seeking to bring in a substantial effect with each and every venture,” says BillionBricks CEO Prasoon Kumar.
BillionBricks, a climate-tech venture, has closed up a US$ 2.45 million ($ 3.3 million) seed capital round. The round was head by SGX-listed Thakral Corporation, who takes part in ENGIE as mainstay investors in the start-up.
Considering that its creation, BillionBricks has won a number of honors for its objective also styles, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), and the 2022 INDE.Awards (Australia).