[L-R] Accacia’s Annu Talreja (founder) and Piyush Chitkara and Jagmohan Gaarg (co-founders)
Accacia, a decarbonisation platform focusing on the real estate and infrastructure sectors, has completed its US$6.5 million pre-series A funding round.
Illuminate Financial led the round with participation from an unnamed VC firm, AC Ventures, Accel Partners, and B Capital.
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Established in 2022 by INSEAD alum Annu Talreja (founder) and Piyush Chitkara and Jagmohan Gaarg (co-founders), Singapore-based Accacia offers an AI-enabled SaaS platform that helps real estate asset managers, owners, and developers track their emissions and design their decarbonisation journeys. The platform allows customers to measure and benchmark the transitional risks on their portfolios, while the AI-enabled recommendation engine suggests decarbonisation strategies at the asset and portfolio levels.
Accacia’s platform integrates with existing property management, energy management, and procurement 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.
“This funding comes at a crucial juncture as the Securities & 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 to over 25 million square feet of real estate and are poised to leverage this opportunity and scale globally,” said Annu.
“Measuring and managing climate risks has become imperative for large financial institutions, especially on real estate, one of the most significant and most affected asset classes in their portfolios. 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.
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Real estate and construction activity contribute approximately 40 per cent of global Greenhouse Gas (GHG) emissions. It is one of the biggest opportunities today, and a staggering US$18 trillion of investment is required over the next decade to bring the real estate industry to net zero.
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