Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The very first BillionBricks neighborhood is going to be introduced in the Philippines, covering up over 16 hectares of land and also extending 1,600 homes. The area will also have 13 MW of electrical energy generation ability via a utility-scale rooftop solar center in addition to the housing development. The project alone can offset over 7,000 tonnes of carbon dioxide transmissions each year, according to BillionBricks.
BillionBricks is a Singaporean start-up that develops net-zero homes and neighborhoods. It was opened in 2013 as a non-profit company by architect Prasoon Kumar plus investor Anurag Srivastava to attend to the global climate and real estate crises.
BillionBricks, a climate-tech venture, has sealed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was led by SGX-listed Thakral Corporation, who joins ENGIE as cornerstone investors in the start-up.
Thakral’s chief executive officer and executive head, Inderbethal Singh Thakral shares, “I am extremely delighted to see that BillionBricks’ uncommon approach to tackling numerous sustainability obstacles at the same time has obtained significant traction, also is embarked on disrupt the two the renewable resource and even housing sectors. The investment in BillionBricks is in line with our method of expanding our concentration to consist of effect investing and even help in reducing ecological effect, whilst aiding communities in need.”
To increase its range and impact, BillionBricks pivoted to come to be a for-profit company in 2020.
Considering that its inception, BillionBricks has actually won several awards 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), plus the 2022 INDE.Awards (Australia).
” BillionBricks is taking on several sustainability obstacles in a particular option, and also looking to make a significant effect with every single project,” states BillionBricks CEO Prasoon Kumar.
“ENGIE is concentrated on accelerating Southeast Asia’s energy shift towards carbon neutrality while guaranteeing it continues to be affordable, available, and even lasting. By combining budget friendly real estate and solar power production, BillionBricks will help to accomplish a reasonable power change, furthermore we are pleased to sustain its growth objectives,” states Thomas Baudlot, CEO for ENGIE energy solutions APAC and also nation head for Southeast Asia.