Real Estate Decarbonisation Platform Accacia Raises US$6.5m Pre- A Round Led by Illuminate Financial
Accacia, a leading decarbonisation platform specializing in the Real Estate and Infrastructure sectors, has successfully closed a pre-Series A funding round totaling US$6.5 million. Illuminate Financial, a specialist VC firm focusing on enterprise fintech companies within the financial services industry, led the investment round. AC Ventures, based in Southeast Asia, also participated in this round, alongside continued support from early backers Accel and B Capital.
The real estate and construction sectors account for approximately 40% of global Greenhouse Gas (GHG) emissions, yet lack robust tools to measure climate risks and define decarbonisation pathways. Accacia addresses this gap with its AI-enabled SAAS platform, empowering real estate asset managers, owners, and developers to track their emissions and design effective decarbonisation strategies.
"This funding comes at a crucial juncture as the Securities & 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," remarked Annu Talreja, Founder and CEO at Accacia.
Illuminate Financial, leveraging its extensive network of financial services industry LPs, brings a unique perspective to this evolution, where climate risk is increasingly becoming a vital metric for investors. "Measuring and managing climate risks has become imperative for large financial institutions, especially in real estate, one of the most significant and affected asset classes in their portfolio," stated Rezso Szabo, Partner at Illuminate Financial.
Helen Wong, Managing Partner at AC Ventures, emphasized the challenge of decarbonising the real estate sector and the necessity for tailored solutions. "While real estate is one of the largest contributors to GHG emissions, it is also a very hard-to-decarbonize sector given the complexity of value chain emissions and the variety of asset uses. Given our deep interest in climate, we were confident that the sector demanded a custom solution designed for the nuances of the real estate sector and loved what Accacia has built."
The decarbonisation of real estate presents a significant opportunity, with an estimated US$18 trillion investment required over the next decade to achieve net zero emissions. Accacia's tech platform integrates seamlessly with existing Property Management, Energy Management, and Procurement systems, automating real-time data capturing and tracking to provide the quickest and most affordable solution for real estate companies on their journey to net zero.
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