Accacia, a real estate decarbonization platform, has made headlines by raising $6.5 million in a pre-Series A funding round led by Illuminate Financial. The funding round also saw participation from Southeast Asia-based AC Ventures, along with existing investors Accel and B Capital.

Accacia | Carbon Accounting Platform

Founded by INSEAD alumnus Annu Talreja, along with co-founders Jagmohan Garg and Piyush Chitkara, in 2022, Accacia is an AI-enabled SaaS (software-as-a-service) decarbonization platform that helps real estate and infrastructure companies track and reduce carbon emissions.

Accacia, with its AI recommendation engine, allows firms to track emissions at the asset and portfolio levels with full consideration to organizational boundaries as defined by GHG Protocol.  

Speaking about the development,  Annu Talreja, founder and Chief Executive Officer of Accacia, said, 

“This funding comes at a crucial juncture as the Securities & Exchange Commission (SEC) and Singapore Exchange (SGX) have announced regulations on carbon emissions’ reporting, showing the need for comprehensive climate risk data. We have currently deployed our solution to around 25m sqft of real estate.”

Statement from the Investor

Commenting on the development, Rezso Szabo, Partner at Illuminate Financial., highlighted the growing importance of measuring and managing climate risks for large financial institutions, especially in real estate.

Szabo added,

“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 decarbonization market and are pleased to partner with the Accacia team.”

The platform seamlessly integrates with existing property management, energy management, and procurement systems, enabling real estate companies to automate the capture and tracking of real-time data.

Last year, Accacia raised about $2.5 million in a seed funding round for geographical expansion across Southeast Asia, West Asia, the US, and Canada. The funding round was led by Accel and B Capital, where Blume Ventures, Good Capital, Zerodha’s Rainmatter Fund, and Canada-based Loyal VC, also also participated.

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