Accacia, a Singapore-based decarbonisation platform focusing on the Real Estate and Infrastructure sectors, closed a US$6.5m pre-Series A funding.
The round was led by Illuminate Financial. AC Ventures also participated in this round, alongside continued support from early backers Accel and B Capital.
The company intends to use the funds to expand operations and development efforts.
Founded in 2022 by Annu Talreja and co-founders Piyush Chitkara and Jagmohan Garg, Accacia provides an AI-enabled SAAS platform that provides real estate developers, asset managers and financial institutions the key metrics and decisions they need to decarbonize their portfolio. It allows customers to measure and benchmark the transitional risks, while the AI-enabled recommendation engine suggests decarbonization strategies at the asset and portfolio level.
Commenting on the news, Annu Talreja, said: “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. We have already deployed our solution to over 25m sqft of real estate and are poised to leverage this opportunity and scale globally.”
FinSMEs
22/04/2024