Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral

BillionBricks, a climate-tech investment, has closed up a US$ 2.45 million ($ 3.3 million) seed funding round. The round was led by SGX-listed Thakral Corporation, that signs up with ENGIE as mainstay capitalists in the start-up.

To expand its range in order to impact, BillionBricks pivoted to come to be a for-profit business in 2020.

Considering that its creation, BillionBricks has actually won a number of honors for its mission along with designs, consisting of the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), and even the 2022 INDE.Awards (Australia).

BillionBricks is a Singaporean startup company that develops net-zero residences and neighborhoods. It was founded in 2013 as a charitable firm by architect Prasoon Kumar and venture capitalist Anurag Srivastava to attend to the worldwide climate including housing situations.

Thakral’s CEO and also executive director, Inderbethal Singh Thakral shares, “I am extremely excited to see that BillionBricks’ unique technique to taking on multiple sustainability difficulties all at once has gained significant traction, also is set to break up each the renewable energy along with mortgage segments. The venture in BillionBricks is in line with our approach of growing our concentration to include impact investing plus contribute to minimizing environmental burden, whilst helping communities in need.”

“ENGIE is concentrated on speeding up Southeast Asia’s power transition towards carbon neutrality while ensuring it continues to be inexpensive, available, and self-sufficient. By incorporating budget-friendly housing as well as solar energy production, BillionBricks will assist to attain a fair energy change, furthermore we are honored to assist its progression objectives,” claims Thomas Baudlot, CEO for ENGIE energy solutions APAC and also country head for Southeast Asia.

Lentor Hills Residences condominium

The very first BillionBricks community is going to be introduced in the Philippines, enveloping over 16 hectares of land and also spanning 1,600 homes. The area is going to also have 13 MW of electricity generation capability through a utility-scale roof solar facility on top of the housing property development. The project by itself can balance out over 7,000 tonnes of carbon dioxide emissions every year, according to BillionBricks.

” BillionBricks is managing numerous sustainability challenges in a sole remedy, plus looking to bring in a substantial influence with every venture,” states BillionBricks chief executive officer Prasoon Kumar.

error: Content is protected !!