Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
BillionBricks, a climate-tech project, has closed a US$ 2.45 million ($ 3.3 million) seed capital round. The round was led by SGX-listed Thakral Corporation, who joins ENGIE as cornerstone capitalists in the start-up.
The very first BillionBricks neighborhood will be launched in the Philippines, covering over 16 hectares of land and also spanning 1,600 homes. The area will also have 13 MW of electrical power generation capacity through a utility-scale roof solar facility in addition to the housing property development. The project solely can offset over 7,000 tonnes of co2 transmissions yearly, according to BillionBricks.
Given that its inception, BillionBricks has won numerous awards for its mission and layouts, featuring the 2018 & 2020 President’s Design Award (Singapore), the 2021 Global Holcim Commendation Award, the 2018 Smart Fifty Award (India), and the 2022 INDE.Awards (Australia).
“ENGIE is concentrated on accelerating Southeast Asia’s energy transition in the direction of carbon neutrality while guaranteeing it continues to be economical, offered, and even sustainable. By integrating economical real estate as well as solar energy production, BillionBricks will assist to attain a fair energy change, and we are pleased to support its growth objectives,” states Thomas Baudlot, CEO for ENGIE energy solutions APAC and country head for Southeast Asia.
Thakral’s CEO as well as executive head, Inderbethal Singh Thakral shares, “I am really excited to see that BillionBricks’ uncommon method to dealing with numerous sustainability difficulties at the same time has actually obtained significant traction, also is set to break up both the renewable energy and even housing sections. The investment in BillionBricks is in line with our strategy of increasing our concentration to include impact investing and even help in decreasing ecological effect, while helping communities in need.”
” BillionBricks is managing numerous sustainability obstacles in a sole solution, plus seeking to make a significant effect with each and every project,” says BillionBricks chief executive officer Prasoon Kumar.
BillionBricks is a Singaporean startup company that creates net-zero residences and also areas. It was founded in 2013 as a charitable firm by designer Prasoon Kumar and investor Anurag Srivastava to address the global environment and real estate crises.
To broaden its reach in order to impact, BillionBricks pivoted to come to be a for-profit company in 2020.
