Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The very first BillionBricks community will be launched in the Philippines, covering over 16 hectares of land and extending 1,600 homes. The area is going to also have 13 MW of electrical power generation capability via a utility-scale rooftop solar center on top of the housing property development. The project by itself can balance out over 7,000 tonnes of co2 emissions each year, according to BillionBricks.
” BillionBricks is taking on multiple sustainability challenges in a sole solution, and also wanting to create a substantial influence with each and every work,” claims BillionBricks chief executive officer Prasoon Kumar.
“ENGIE is concentrated on speeding up Southeast Asia’s power shift towards carbon neutrality while ensuring it remains economical, offered, and even self-sufficient. By integrating inexpensive real estate and solar power production, BillionBricks will certainly aid to accomplish a fair energy shift, moreover we are honored to sustain its progression goals,” states Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and country head for Southeast Asia.
To increase its reach and even impact, BillionBricks pivoted to become a for-profit company in 2020.
BillionBricks is a Singaporean startup that creates net-zero houses and also neighborhoods. It was founded in 2013 as a charitable company by architect Prasoon Kumar plus venture capitalist Anurag Srivastava to address the worldwide environment including housing crises.
Thakral’s chief executive officer and executive head, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ novel method to dealing with multiple sustainability difficulties all at once has obtained considerable traction, and also is embarked on intrude the two the renewable energy and even mortgage sections. The venture in BillionBricks is in line with our strategy of broadening our focus to include effect investing and contribute to decreasing environmental burden, while aiding communities in need.”
BillionBricks, a climate-tech venture, has closed up a US$ 2.45 million ($ 3.3 million) seed financing round. The round was led by SGX-listed Thakral Corporation, that takes part in ENGIE as cornerstone capitalists in the start-up.
Since its beginning, BillionBricks has won several awards for its mission and styles, including 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).