Real estate and infrastructure-focused decarbonisation platform Accacia announced on December 6 that it had raised $2.5 million in seed funding led by Accel and B Capital. Blume Ventures, Good Capital, Zerodha’s Rainmatter Fund, Canada-based Loyal VC and several leading angel investors also participated in the round.
B Capital and Accel Partners, which raised about $250 million and $650 million in new funding earlier this year, are looking for new early-stage opportunities to deploy it.
The new funds raised by Accacia will be used to expand its operations in Southeast Asia, the Middle East, the United States and Canada over the next year.
Founded in 2022 by INSEAD alumnus Annu Talreja and co-founders Piyush Chitkara and Jagmohan Garg, the startup has deployed its solutions across more than 20 million square feet of institutional real estate across Asia.
Annu Talreja, Founder and CEO of Accacia, said: “Real estate and construction activities account for 40% of global greenhouse gas (GHG) emissions. The industry lacks robust tools to measure climate risk and define decarbonisation strategies. We are working with large asset management Companies, developers and real estate operators to collaborate to help them use the tools they need to define and monitor a path to net zero.”