TLDR:
- India-based decarbonization platform Accacia raises $6.5 million in pre-Series A round led by Illuminate Financial.
- Accacia offers AI-enabled software as a service platform to help real estate asset managers track emissions and design decarbonization strategies.
An India-based decarbonization platform, Accacia, has secured $6.5 million in a pre-Series A funding round led by Illuminate Financial. The company focuses on the real estate and infrastructure sectors and aims to provide comprehensive climate risk data. Southeast Asia based AC Ventures also participated in this round, along with support from early backers Accel and B Capital.
Founded in 2022 by INSEAD alumni, Accacia offers an AI-enabled software as a service platform to help real estate asset managers, owners, and developers track their emissions and design decarbonization strategies. The platform allows customers to measure and benchmark transitional risks on their portfolios, while an AI-enabled recommendation engine suggests decarbonization strategies at both the asset and portfolio level.
Illuminate Financial, a venture capital firm focused on enterprise fintech companies, recognized the importance of measuring and managing climate risks in the real estate sector and saw Accacia as a leading player in the global real estate decarbonization market. AC Ventures also highlighted the need for a custom solution designed for the nuances of the real estate sector, praising what Accacia has built.
The decarbonization of real estate presents a significant opportunity, with an estimated $18 trillion investment needed over the next decade to achieve net zero in the industry. Accacia’s tech platform integrates with existing property management systems to provide real-time data tracking and make the journey to net zero more manageable for real estate companies.
Overall, Accacia’s funding round and focus on decarbonization in the real estate sector highlight the growing importance of climate risk measurement and management in the financial and real estate industries.
