Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks is a Singaporean startup company that establishes net-zero residences and areas. It was founded in 2013 as a charitable business by designer Prasoon Kumar and investor Anurag Srivastava to deal with the global climate including real estate dilemmas.
BillionBricks, a climate-tech investment, has closed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was guided by SGX-listed Thakral Firm, who signs up with ENGIE as cornerstone investors in the start-up.
Thakral’s CEO and executive head, Inderbethal Singh Thakral shares, “I am extremely excited to see that BillionBricks’ novel approach to dealing with multiple sustainability difficulties at the same time has obtained substantial traction, and also is readied to intrude the two the renewable energy and real estate sectors. The effort in BillionBricks is in line with our technique of growing our focus to feature impact investing plus help in reducing ecological effect, while helping neighborhoods in need.”
The initial BillionBricks community will be introduced in the Philippines, covering up over 16 hectares of land and also covering 1,600 residences. The community can also have 13 MW of electrical power generation ability through a utility-scale rooftop solar facility on top of the housing property development. The project by itself can balance out over 7,000 tonnes of co2 discharges annually, according to BillionBricks.
Considering that its beginning, BillionBricks has actually won numerous honors for its objective along with layouts, featuring 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).
To broaden its scope and impact, BillionBricks pivoted to come to be a for-profit firm in 2020.
” BillionBricks is undertaking multiple sustainability difficulties in a single remedy, and wanting to bring in a substantial effect with every single venture,” says BillionBricks CEO Prasoon Kumar.
“ENGIE is focused on speeding up Southeast Asia’s power shift towards carbon neutrality while ensuring it remains affordable, offered, and sustainable. By combining affordable real estate as well as solar energy production, BillionBricks will assist to attain a fair power shift, and we are proud to assist its growth objectives,” claims Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC also nation head for Southeast Asia.