Accacia, a decarbonisation platform focused on real estate and infrastructure sectors, has closed US$2.5 million in seed funding led by Accel and B Capital. Blume Ventures, Good Capital, Zerodha’s Rainmatter Fund and Canada-based Loyal VC, along with several leading angels also participated in the round.
Founded in 2022 by INSEAD alumni Annu Talreja and cofounders Piyush Chitkara and Jagmohan Garg, Accacia has deployed its solution to over 20 million square feet of institutional real estate across Asia. The company was also selected in the “Future of Buildings” category at the New York Climate Summit in 2022 and UOB’s Finlab accelerator for fintechs with sustainability focus. The company will use the capital to expand its presence across Southeast Asia, Middle East, the US and Canada over the next year.
“Real estate and construction activities contribute to about 40 per cent of global Greenhouse Gas (GHG) emissions. The sector lacks robust tools to measure climate risks and define decarbonisation strategies. We are working with large asset managers, developers, and real estate operators to help them with tools they need to define and monitor their path to net zero,” said Annu Talreja, Founder and CEO at Accacia.
“With the impact of climate change becoming increasingly tangible, the real estate industry is at an inflection point. The entire industry including how we design, construct, operate and even value assets is being impacted by climate change and needs to evolve. We strongly believe in Accacia’s approach of a global sector focused platform based on our extensive work and found great founder-market-fit with Annu’s extensive experience in the industry,” said Karan Mohla, Partner at B Capital.
“Only 3,000 of roughly 40,000 listed companies currently report their emissions, making climate reporting and decarbonisation a massive opportunity. At Accel, we firmly believe that SAAS is the solution to scale-up net-zero efforts across sectors. The team at Accacia has developed a unique solution that encompasses the design, operations and financial aspects of climate risks in real estate and we strongly believe that they will have an early-mover advantage to carve an industry-leading position,” said Prashanth Prakash, partner at Accel.
Decarbonisation of real estate is one the biggest opportunities today – a staggering US$18 trillion of investment is required over next decade to get the real estate industry to net zero1. Accacia’s tech platform integrates with existing Property Management and Energy Management systems to automate real-time data capturing and tracking, making it the quickest and most affordable solution for real estate companies on their path to net zero. Real Estate industry has recently become the focus for climate solutions with several large VC funds raising dedicated capital to decarbonise buildings.
Accacia’s is an AI-enabled SAAS platform that provides Real Estate Developers, Asset Managers and Financial Institutions the key metrics and decisions they need to decarbonise their portfolio. The platform allows customers to measure and benchmark the Transitional and Environmental Risks on their portfolios, while the AI-enabled recommendation engine suggests decarbonisation strategies at the asset and portfolio level.
Accel is a leading venture capital firm that invests in people and their companies from the earliest days through all phases of private company growth. Atlassian, Braintree, Cloudera, CrowdStrike, DJI, Dropbox, Dropcam, Etsy, Facebook, Flipkart, FreshWorks, Jet, Qualtrics, Slack, Spotify, Supercell, UiPath and Vox Media are among the companies the firm has backed over the past 35 years.
About B Capital
B Capital is a multi-stage global investment firm that partners with extraordinary entrepreneurs to shape the future through technology. With $6.2 billion in assets under management across multiple funds, the firm focuses on seed to late-stage venture growth investments, primarily in the enterprise, financial technology and healthcare sectors. Founded in 2015, B Capital leverages an integrated team across eight locations in the US and Asia, as well as a strategic partnership with BCG, to provide the value-added support entrepreneurs need to scale fast and efficiently, expand into new markets and build exceptional companies.
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