BillionBricks closes US$2.45M seed round to build affordable net-zero homes

BillionBricks, a Singapore-based climate-tech startup combining clean energy and large-scale affordable housing, has closed a US$2.45 million seed funding round.

SGX-listed Thakral Corporation led the round with participation from ENGIE, a global low-carbon energy and services company.

BillionBricks was founded in 2013 as a non-profit by architect Prasoon Kumar and venture capitalist Anurag Srivastava to address the global climate and housing crises. At that time, Kumar and Srivastava provided shelters, schools, and emergency relief support to over 15,000 people across nine countries.

To expand its reach and impact, BillionBricks pivoted to become a for-profit company in 2020. It combines clean energy and large-scale affordable housing into a single financially-viable business proposition, presenting an opportunity for more people to become homeowners while mitigating climate change.

The company is currently focused on disrupting the present and future of housing and renewable energy through large-scale, net-zero homes and communities.

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The first BillionBricks community will be launched in the Philippines in the coming months. It will cover over 16 hectares of land, 1,600 homes and have 13 MW of electricity generation capacity through a utility-scale rooftop solar facility on top of the housing development. This community alone can offset more than 7,000 tons of CO2 emissions annually.

BillionBricks’s mission and housing projects align with ENGIE’s push for decentralised, asset-based renewable energy solutions. Each BillionBricks housing development comes with a utility-scale rooftop solar farm. ENGIE brings strategic know-how and investment for implementation.

“BillionBricks is taking on multiple sustainability challenges in a single solution and looking to make a significant impact with every project,” said CEO Prasoon Kumar.

Inderbethal Singh Thakral, CEO and Executive Director of Thakral, added: “The investment in BillionBricks is in line with our strategy of expanding our focus to include impact investing and contribute to reducing environmental impact while helping communities in need.”

“ENGIE is focused on accelerating Southeast Asia’s energy transition towards carbon neutrality while ensuring it remains affordable, available, and sustainable. By combining affordable housing and solar energy production, BillionBricks will help to achieve a fair energy transition,” said Thomas Baudlot, CEO for Energy Solutions (APAC) and Country Head for Southeast Asia.

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