Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
Thakral’s chief executive officer as well as executive head, Inderbethal Singh Thakral shares, “I am very thrilled to see that BillionBricks’ novel strategy to tackling multiple sustainability difficulties simultaneously has actually acquired substantial traction, and also is set to intrude each the renewable energy along with real estate sections. The effort in BillionBricks remains in line with our method of increasing our aim to consist of effect investing and add to minimizing environmental burden, while aiding areas in need.”
The very first BillionBricks area will be launched in the Philippines, covering over 16 hectares of land and covering 1,600 homes. The neighborhood can also have 13 MW of power generation capacity with a utility-scale roof solar center in addition to the housing development. The project solely can offset over 7,000 tonnes of carbon dioxide emissions every year, according to BillionBricks.
“ENGIE is concentrated on speeding up Southeast Asia’s energy shift in the direction of carbon neutrality while making sure it stays budget-friendly, offered, along with self-sufficient. By incorporating economical housing and also solar power manufacturing, BillionBricks will aid to attain a fair energy transition, moreover we are honored to assist its growth goals,” states Thomas Baudlot, CEO for ENGIE energy solutions APAC and nation head for Southeast Asia.
BillionBricks, a climate-tech venture, has sealed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was head by SGX-listed Thakral Company, who signs up with ENGIE as cornerstone capitalists in the startup.
Since its beginning, BillionBricks has won numerous honors for its mission and designs, featuring 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).
BillionBricks is a Singaporean startup that establishes net-zero residences as well as neighborhoods. It was established in 2013 as a non-profit business by architect Prasoon Kumar along with investor Anurag Srivastava to address the international climate together with real estate crises.
To expand its reach and even influence, BillionBricks pivoted to become a for-profit firm in 2020.
” BillionBricks is undertaking multiple sustainability obstacles in a sole service, and looking to make a considerable effect with every single venture,” says BillionBricks CEO Prasoon Kumar.
