Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
The initial BillionBricks area is going to be introduced in the Philippines, covering up over 16 hectares of land as well as extending 1,600 homes. The neighborhood is going to also have 13 MW of electrical energy generation capacity through a utility-scale rooftop solar facility in addition to the housing property development. The project alone can counter over 7,000 tonnes of co2 exhausts annually, according to BillionBricks.
“ENGIE is focused on accelerating Southeast Asia’s power change towards carbon neutrality while ensuring it remains budget friendly, offered, along with self-sufficient. By incorporating budget-friendly housing and also solar energy development, BillionBricks will assist to attain a fair power shift, furthermore we are honored to sustain its progression goals,” says Thomas Baudlot, CEO for ENGIE energy solutions APAC also nation head for Southeast Asia.
BillionBricks, a climate-tech project, has sealed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was guided by SGX-listed Thakral Firm, who signs up with ENGIE as mainstay investors in the start-up.
To increase its reach in order to effect, BillionBricks pivoted to end up being a for-profit company in 2020.
Given that its beginning, BillionBricks has already won a number of awards for its objective also designs, featuring the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), plus the 2022 INDE.Awards (Australia).
” BillionBricks is taking on several sustainability difficulties in a sole solution, and also seeking to bring in a considerable influence with every work,” claims BillionBricks chief executive officer Prasoon Kumar.
Thakral’s chief executive officer as well as executive director, Inderbethal Singh Thakral shares, “I am very delighted to see that BillionBricks’ novel technique to taking on several sustainability challenges all at once has actually gotten significant traction, and is readied to disrupt both the renewable energy and mortgage sections. The investment in BillionBricks is in line with our approach of expanding our aim to consist of effect investing plus contribute to lowering ecological effect, whilst aiding areas in need.”
BillionBricks is a Singaporean startup that establishes net-zero residences and also areas. It was founded in 2013 as a charitable company by engineer Prasoon Kumar along with venture capitalist Anurag Srivastava to attend to the global environment together with housing crises.