Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The first BillionBricks area is going to be released in the Philippines, enveloping over 16 hectares of land and extending 1,600 houses. The community can also have 13 MW of electrical power generation capacity via a utility-scale rooftop solar facility on top of the housing development. The project by itself can counter over 7,000 tonnes of carbon dioxide transmissions each year, according to BillionBricks.
“ENGIE is focused on accelerating Southeast Asia’s power transition in the direction of carbon neutrality while making sure it stays budget-friendly, readily available, along with self-sufficient. By combining inexpensive housing and solar power manufacturing, BillionBricks will certainly help to achieve a reasonable energy shift, moreover we are honored to support its progression goals,” says Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC also nation head for Southeast Asia.
Thakral’s CEO and executive head, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ uncommon strategy to taking on several sustainability obstacles simultaneously has gained substantial traction, and also is readied to disrupt both the renewable energy and even mortgage segments. The venture in BillionBricks remains in line with our approach of expanding our concentration to consist of impact investing and even help in lowering environmental impact, whilst assisting neighborhoods in need.”
To increase its range and even impact, BillionBricks pivoted to become a for-profit company in 2020.
” BillionBricks is undertaking numerous sustainability challenges in a single option, and seeking to make a significant influence with each and every project,” says BillionBricks CEO Prasoon Kumar.
Given that its inception, BillionBricks has actually won a number of honors for its mission along with 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, a climate-tech investment, has sealed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was guided by SGX-listed Thakral Corporation, who takes part in ENGIE as cornerstone capitalists in the start-up.
BillionBricks is a Singaporean startup that creates net-zero houses and also communities. It was established in 2013 as a non-profit business by architect Prasoon Kumar plus venture capitalist Anurag Srivastava to resolve the worldwide climate including housing situations.