Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks, a climate-tech investment, has sealed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was led by SGX-listed Thakral Company, who takes part in ENGIE as mainstay capitalists in the startup.
The initial BillionBricks community is going to be released in the Philippines, covering over 16 hectares of land as well as covering 1,600 homes. The community will also have 13 MW of electrical power generation ability with a utility-scale roof solar center on top of the housing property development. The project solely can counter over 7,000 tonnes of co2 discharges annually, according to BillionBricks.
BillionBricks is a Singaporean start-up that develops net-zero homes as well as communities. It was opened in 2013 as a non-profit business by engineer Prasoon Kumar and investor Anurag Srivastava to address the worldwide environment together with real estate dilemmas.
To broaden its scope and even effect, BillionBricks pivoted to become a for-profit firm in 2020.
” BillionBricks is handling numerous sustainability difficulties in a single option, and seeking to bring in a considerable influence with each and every venture,” says BillionBricks chief executive officer Prasoon Kumar.
Thakral’s chief executive officer and executive head, Inderbethal Singh Thakral shares, “I am extremely excited to see that BillionBricks’ uncommon method to taking on numerous sustainability obstacles concurrently has gotten substantial traction, and also is set to disrupt the two the renewable energy and even mortgage segments. The effort in BillionBricks remains in line with our method of increasing our focus to consist of influence investing plus contribute to decreasing ecological impact, while assisting communities in need.”
Considering that its beginning, BillionBricks has won numerous awards for its goal and layouts, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), also the 2022 INDE.Awards (Australia).
“ENGIE is concentrated on increasing Southeast Asia’s power change in the direction of carbon neutrality while making sure it continues to be affordable, available, and sustainable. By incorporating budget-friendly housing and also solar energy development, BillionBricks will help to accomplish a fair energy change, moreover we are pleased to support its progression goals,” states Thomas Baudlot, CEO for ENGIE energy solutions APAC also nation head for Southeast Asia.