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

BillionBricks is a Singaporean start-up that establishes net-zero residences as well as areas. It was opened in 2013 as a charitable company by engineer Prasoon Kumar along with investor Anurag Srivastava to deal with the international climate together with casing situations.

Given that its beginning, BillionBricks has actually won a number of honors for its objective 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).

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BillionBricks, a climate-tech investment, has closed up 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 mainstay capitalists in the start-up.

” BillionBricks is undertaking multiple sustainability difficulties in a single option, and wanting to bring in a substantial effect with every venture,” says BillionBricks chief executive officer Prasoon Kumar.

The very first BillionBricks neighborhood is going to be launched in the Philippines, covering up over 16 hectares of land and also covering 1,600 residences. The neighborhood will also have 13 MW of electricity generation capacity through a utility-scale roof solar facility on top of the housing project. The project alone can counter over 7,000 tonnes of carbon dioxide discharges yearly, according to BillionBricks.

To expand its reach in order to effect, BillionBricks pivoted to end up being a for-profit business in 2020.

“ENGIE is concentrated on increasing Southeast Asia’s power change towards carbon neutrality while making sure it continues to be economical, available, and self-sufficient. By combining affordable housing and also solar energy manufacturing, BillionBricks will help to achieve a fair energy shift, and we are pleased to sustain its development goals,” states Thomas Baudlot, CEO for ENGIE energy solutions APAC also country head for Southeast Asia.

Thakral’s chief executive officer and executive director, Inderbethal Singh Thakral shares, “I am very thrilled to see that BillionBricks’ unique approach to tackling numerous sustainability difficulties concurrently has gotten significant traction, and is set to break up each the renewable energy and mortgage sections. The venture in BillionBricks remains in line with our technique of expanding our focus to include influence investing and contribute to decreasing ecological burden, while helping communities in need.”

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