Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The very first BillionBricks neighborhood is going to be launched in the Philippines, covering up over 16 hectares of land and also spanning 1,600 houses. The community will also have 13 MW of power generation capacity with a utility-scale roof solar facility on top of the housing property development. The project solely can balance out over 7,000 tonnes of carbon dioxide emissions yearly, according to BillionBricks.
“ENGIE is focused on increasing Southeast Asia’s energy shift in the direction of carbon neutrality while ensuring it remains economical, available, along with self-sufficient. By integrating affordable housing as well as solar energy development, BillionBricks will assist to attain a fair power shift, and we are proud to sustain its growth goals,” says Thomas Baudlot, CEO for ENGIE energy solutions APAC and country head for Southeast Asia.
To expand its range in order to effect, BillionBricks pivoted to become a for-profit company in 2020.
Thakral’s CEO and executive head, Inderbethal Singh Thakral shares, “I am really delighted to see that BillionBricks’ novel strategy to dealing with multiple sustainability challenges concurrently has actually acquired considerable traction, and is embarked on disrupt each the renewable resource and real estate sections. The venture in BillionBricks is in line with our strategy of increasing our concentration to include effect investing and even add to lowering ecological effect, whilst aiding areas in need.”
” BillionBricks is managing multiple sustainability challenges in a sole solution, and also wanting to create a significant effect with every single project,” states BillionBricks chief executive officer Prasoon Kumar.
Given that its beginning, BillionBricks has won numerous awards for its objective also layouts, 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, a climate-tech project, has sealed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was head by SGX-listed Thakral Corporation, that signs up with ENGIE as cornerstone financiers in the startup.
BillionBricks is a Singaporean startup that establishes net-zero homes as well as areas. It was founded in 2013 as a non-profit company by engineer Prasoon Kumar plus investor Anurag Srivastava to deal with the global environment together with casing dilemmas.