Climate-tech venture, BillionBricks closes US$2.45 mil seed funding round led by Thakral
Thakral’s chief executive officer and also executive head, Inderbethal Singh Thakral shares, “I am really delighted to see that BillionBricks’ uncommon strategy to taking on several sustainability obstacles all at once has gotten substantial traction, also is set to break up each the renewable energy and mortgage sections. The venture in BillionBricks is in line with our approach of expanding our concentration to feature impact investing plus add to lowering ecological effect, while assisting areas in need.”
BillionBricks, a climate-tech project, has closed a US$ 2.45 million ($ 3.3 million) seed financing round. The round was head by SGX-listed Thakral Firm, who signs up with ENGIE as mainstay capitalists in the start-up.
“ENGIE is concentrated on accelerating Southeast Asia’s power transition towards carbon neutrality while ensuring it continues to be budget-friendly, readily available, and even sustainable. By combining economical housing as well as solar energy production, BillionBricks will assist to accomplish a reasonable energy change, moreover we are honored to support its growth objectives,” states Thomas Baudlot, chief executive officer for ENGIE energy solutions APAC and nation head for Southeast Asia.
Since its inception, BillionBricks has actually won a number of awards for its goal also layouts, including 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 is a Singaporean startup that develops net-zero homes and communities. It was opened in 2013 as a charitable company by designer Prasoon Kumar and venture capitalist Anurag Srivastava to deal with the global environment and housing situations.
To expand its range and even influence, BillionBricks pivoted to come to be a for-profit company in 2020.
” BillionBricks is managing several sustainability challenges in a particular option, and also seeking to make a considerable influence with every single work,” claims BillionBricks CEO Prasoon Kumar.
The initial BillionBricks neighborhood is going to be released in the Philippines, enveloping over 16 hectares of land and also covering 1,600 homes. The area will also have 13 MW of electrical energy generation capability via a utility-scale rooftop solar center on top of the housing development. The project solely can offset over 7,000 tonnes of co2 emissions every year, according to BillionBricks.
