Accacia, a decarbonisation platform inclined towards the real estate and infrastructure sectors, has closed a $6.5-million pre-Series A round led by Illuminate Financial.

AC Ventures also participated alongside Accel and B Capital.

Founded in 2022 by INSEAD alumni Annu Talreja, together with Piyush Chitkara and Jagmohan Garg, Accacia offers an AI-enabled SaaS [software as a service] platform that helps real estate asset managers, owners and developers track their emissions and design decarbonisation solutions.

“This funding comes at a crucial juncture as the Securities and Exchange Commission (SEC) and Singapore Exchange (SGX) have announced regulations on carbon emissions reporting, underscoring the urgent need for comprehensive and real-time climate risk data. We have already deployed our solution across 25 million sq ft of real estate and are poised to leverage this opportunity and scale globally,” said Talreja, CEO, Accacia.

Accacia’s tech platform integrates with existing property management, energy management and procurement systems to automate real-time data capturing and tracking.

“While real estate is one of the single largest contributors to GHG [greenhouse] emissions, it is also a very hard-to-decarbonise sector given the complexity of value chain emissions (construction vs operations) and the variety of asset uses. Given our deep interest in climate, we were confident that the sector demanded a custom solution designed for the nuances of the real estate sector and loved what Accacia has built,” said Helen Wong, managing partner at AC Ventures.

(With inputs from BL intern Meghna Barik)

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Published on April 23, 2024