India-based Accacia bags $6.5m for real estate decarbonization tool

Accacia founding team / Photo credit: AC Ventures

Accacia, an India-based real estate decarbonization startup, has secured US$6.5 million in a pre-series A funding round. Global VC firm Illuminate Financial led the funding, with participation from AC Ventures, Accel, and B Capital.

Founded in 2022 by Annu Talreja, Piyush Chitkara, and Jagmohan Gaarg, Accacia aims to lessen the greenhouse gas (GHG) emissions of the real estate and construction sectors, which make up 40% of the global total.

It offers an AI-enabled SaaS tool that aids real estate managers, owners, and developers in managing emissions and planning their decarbonization strategies.

According to data from Boston Consulting Group, using AI can not only lessen 5% to 10% of overall emissions but also contribute US$1.3 trillion to US$2.6 trillion in value from additional revenue and reduced costs by 2030.

“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 Talreja, who is also the CEO of the company, in a statement.

Accacia’s platform integrates with existing property management, energy management, and procurement systems. This integration enables real-time data collection and tracking, providing a fast and cost-effective solution for businesses striving for net-zero emissions.

According to AC Ventures, approximately US$18 trillion is predicted to be needed in the coming 10 years for the real estate industry’s net-zero ambition. This sector, however, is becoming a key area for climate solutions, with large VC funds focusing on decarbonizing properties.

Previously, Accacia raised US$2.5 million in a seed funding round led by Accel and B Capital.

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