Aditya Hadi Pratama · · 1 min readAccel, B Capital lead $2.5m seed round of real estate greentech firm
Accacia, an India-based greentech firm, has raised US$2.5 million in a seed funding round led by Accel as well as Eduardo Saverin’s B Capital. Joining the round are Blume Ventures, Good Capital, Loyal VC, and Rainmatter Fund – an investment fund of local stockbroking firm Zerodha.
Accacia co-founders Annu Talreja (left) and Piyush Chitkara / Photo credit: Accacia
Founded earlier this year, Accacia is a software-as-a-service platform that helps companies in the real estate and infrastructure sectors measure their decarbonization efforts. It can also give recommendations to reduce environmental risk.
The company said its tech has been used for more than 20 million square feet of real estate assets across Asia.
The firm was established by Annu Talreja, Piyush Chitkara, and Jagmohan Gaarg. The trio previously built a student housing firm called Oxfordcaps in 2017.
Accacia plans to use the fresh funding to expand its presence in Southeast Asia, Canada, the US, and the Middle East over the next year.
See also: ‘Clean air as a service’ by Indonesian firm takes on pollution
“Only 3,000 of roughly 40,000 listed companies currently report their emissions, making climate reporting and decarbonization a massive opportunity,” Accel partner Prashanth Prakash said in a statement.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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