Real estate decarbonisation startup Accacia raises $2.5 million in seed round

• Founded in 2022 by INSEAD alumni Annu Talreja, founders Piyush Chitkara and Jagmohan Garg, Accacia is an AI-enabled SAAS platform providing decarbonisation strategies.
  
• According to a World Economic Forum report, real estate contributes to 40% of global carbon emissions.
  
• Accacia will use the capital to expand its presence across Southeast Asia, the Middle East, the US and Canada over the next year.
  

Accacia, a platform focused on providing decarbonisation strategies to real estate and infrastructure sectors, closed $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, and several leading angel investors also participated in the round.

Accacia is an AI-enabled SAAS platform that provides real estate developers, asset managers and financial institutions the key metrics and decisions they need to decarbonize their portfolio. It was founded in 2022 by INSEAD alumni Annu Talreja, along with Piyush Chitkara and Jagmohan Garg.

“Real estate 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.

According to a World Economic Forum report, real estate contributes to nearly 40% of global carbon emissions. Unsustainable or ‘brown’ buildings are facing devaluation, making real estate review its future outlook.

“Brown buildings–and their notoriously sizable carbon footprints–face aggregated devaluation in the real estate sector and are now starting to trade at discounts,” Christian Ulbrich, global CEO and president at JLL said.

Decarbonisation of real estate is one of today’s biggest and most critical opportunities – a staggering $18 trillion of investment is required over the next decade to get the real estate industry to net zero, says Accacia in a statement.

“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,” said Prashanth Prakash, partner at Accel.

Accacia has deployed its solutions to over 20 million square feet of institutional real estate across Asia. The company will use the capital to expand its presence across Southeast Asia, the Middle East, the US and Canada over the next year.

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