Climate Insider Brief:
- Accacia, a real estate decarbonisation platform, secures $6.5 million in pre-Series A funding led by Illuminate Financial, with participation from AC Ventures, Accel, and B Capital.
- This investment signals a significant step towards global expansion and technological enhancement amid escalating regulatory demands for climate risk reporting.
- CEO Annu Talreja underscores the importance of the funding, coinciding with new regulations from SEC and SGX mandating enhanced carbon emissions reporting.
PRESS RELEASE – April 23, 2024 – Accacia, a pioneering real estate decarbonisation platform, has successfully closed a $6.5 million pre-Series A funding round, led by Illuminate Financial. The funding round also saw participation from Southeast Asia’s AC Ventures and existing investors Accel and B Capital, marking a significant step towards global expansion and technological enhancement in the face of increasing regulatory demands on climate risk reporting.
The influx of capital arrives at a critical time, coinciding with new regulations from the Securities and Exchange Commission (SEC) and the Singapore Exchange (SGX), which mandate enhanced carbon emissions reporting. Accacia’s CEO, Annu Talreja, emphasized the timeliness of this investment, stating, “This funding comes at a crucial juncture…We have already deployed our solution to over 25 million sqft of real estate and are poised to leverage this opportunity and scale globally.”
Accacia’s platform uniquely integrates with existing property and energy management systems to automate the capture and analysis of real-time data. This capability is crucial for real estate companies needing to track and manage their climate impact proactively. Rezso Szabo, Partner at Illuminate Financial, highlighted the strategic fit of Accacia in the current market, saying, “Measuring and managing climate risks has become imperative…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.”
Founded in 2022 by Annu Talreja, Piyush Chitkara, and Jagmohan Garg, Accacia leverages AI technology to assist real estate asset managers and developers in reducing carbon footprints. The platform not only tracks emissions but also provides AI-driven recommendations for decarbonisation strategies, helping clients measure and manage transitional risks associated with their portfolios.
With this new round of funding, Accacia is set to enhance its technological offerings and expand its reach to help more real estate entities worldwide manage and mitigate climate-related risks effectively. As global markets face increasing pressure to decarbonize, Accacia’s role becomes ever more vital in shaping a sustainable future in real estate investments.
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SOURCE: Startup Story
Featured Image: Credit: Accacia
