Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks, a climate-tech venture, has sealed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was head by SGX-listed Thakral Firm, who signs up with ENGIE as cornerstone investors in the startup.
“ENGIE is focused on increasing Southeast Asia’s energy shift towards carbon neutrality while making sure it remains inexpensive, readily available, along with sustainable. By combining inexpensive real estate and solar energy development, BillionBricks will aid to accomplish a fair energy shift, moreover we are pleased to support its progression goals,” claims Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and country head for Southeast Asia.
The very first BillionBricks area will be launched in the Philippines, covering up over 16 hectares of land and also extending 1,600 residences. The area will also have 13 MW of electrical power generation capacity through a utility-scale roof solar facility in addition to the housing development. The project by itself can offset over 7,000 tonnes of co2 discharges each year, according to BillionBricks.
BillionBricks is a Singaporean startup company that creates net-zero houses as well as neighborhoods. It was founded in 2013 as a charitable company by designer Prasoon Kumar and investor Anurag Srivastava to deal with the worldwide environment together with real estate crises.
To increase its scope in order to influence, BillionBricks pivoted to become a for-profit business in 2020.
” BillionBricks is handling several sustainability challenges in a single service, and wanting to create a significant impact with each and every project,” claims BillionBricks chief executive officer Prasoon Kumar.
Thakral’s chief executive officer and executive director, Inderbethal Singh Thakral shares, “I am very delighted to see that BillionBricks’ uncommon technique to tackling several sustainability difficulties simultaneously has actually obtained considerable traction, and also is readied to disrupt the two the renewable energy and even mortgage segments. The investment in BillionBricks remains in line with our method of expanding our aim to consist of impact investing plus add to reducing environmental effect, whilst helping areas in need.”
Since its inception, BillionBricks has won several honors for its objective along with 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).