Real Estate Decarbonisation Platform Accacia Raises USD 6.5 Mn in Pre-Series A Led by Illuminate Financial Southeast Asia-based AC Ventures, along with existing investors Accel and B Capital, also participated in the round.
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AI-enabled SaaS decarbonisation startup Accacia has announced the raising of USD 6.5 million in a pre-Series A led by Illuminate Financial to expand the business.
Southeast Asia-based AC Ventures, along with existing investors Accel and B Capital, also participated in the round.
Previously, it raised USD 2.5 million in a seed funding round led by Accel and B Capital.
Annu Talreja, Founder and CEO at Accacia, said, "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 real-time climate risk data. We have already deployed our solution to over 25 million sqft of real estate and are poised to leverage this opportunity and scale globally."
Founded in 2022 by Annu Talreja, Piyush Chitkara, and Jagmohan Garg, Accacia is an AI-enabled SaaS (software-as-a-service) decarbonisation platform that assists developers and real estate asset managers in tracking and lowering carbon emissions.
Accacia's tech platform integrates with existing property management, energy management, and procurement systems to automate real-time data capture and tracking for real estate companies.
The Gurugram-based platform allows customers to measure and benchmark the transitional risks in their portfolios through an AI recommendation engine that suggests decarbonisation strategies.
"Measuring and managing climate risks has become imperative for large financial institutions, especially in real estate, which is one of the most significant and most affected asset classes in their portfolio. With Annu's background and industry experience in real estate, we felt Accacia is the right fit to take on a leading position in the global real estate decarbonisation market and are pleased to partner with the Accacia team," said Rezso Szabo, Partner at Illuminate Financial.
"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," added Helen Wong, Managing Partner at AC Ventures.
