Heaptalk, Jakarta — A decarbonization startup focusing on the real estate and infrastructure sector, Accacia, closed a USD6.5 million Pre-Series A funding round led by Illuminate Financial. AC Ventures also backs in the round, followed by a continued support from its existing investors Accel and B Capital. The startup will use the injection to develop its emission tracker technology globally.
According to the Founder of Accacia, Annu Talreja, this funding comes at 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 comprehensive and real-time climate risk data.
As is known, decarbonizing real estate is one of the most significant opportunities today. A staggering USD18 trillion of investment is required over the next decade to get the real estate industry to net zero. The startup revealed that real estate and construction activity contribute approximately 40% of global Greenhouse Gas (GHG) emissions. The sector is claimed to need more robust tools to measure climate risks and define decarbonization pathways.
“Measuring and managing climate risks has become imperative for large financial institutions, particularly on real estate, one of the most significant and most affected asset classes in their portfolios. We believe Accacia will take on a leading position in the global real estate decarbonization market,” Illuminate Financial’s Partner, Rezso Szabo, conveyed.
Established in 2022, Accacia offers an AI-enabled SaaS platform that helps real estate asset managers, owners, and developers track emissions and design their decarbonization journey. With its technology, Accacia has deployed its solution to over 25 million square feet of real estate and is poised to leverage this opportunity and scale globally.
Accacia’s tech platform integrates with existing property management, energy management, and procurement systems to automate real-time data capturing and tracking, making its technology affordable for real estate companies on their path to net zero. The real estate industry has recently become the focus for climate solutions, with several significant VC funds raising dedicated capital to decarbonize buildings.
“While real estate is one of the single largest contributors to GHG emissions, it is also a very hard-to-decarbonize sector given the complexity of value chain emissions, such as construction and operations and the variety of asset uses. Given our deep interest in climate, we were confident that the sector demanded a custom solution designed to address the needs of the real estate sector. We loved what Accacia has built,” Helen Wong, Managing Partner of AC Ventures, said.
