Decarbonisation startup Accacia raises US$6.5 million

ACCACIA, a decarbonisation platform focusing on the real estate and infrastructure sectors, has raised US$6.5 million in pre-Series A funding, the startup said on Monday (Apr 22).

The round was led by venture capital firm Illuminate Financial, which focuses on enterprise fintech businesses. Other investors included AC Ventures and early backers Accel and B Capital.

Accacia’s platform lets customers track and benchmark the emissions in their portfolios. It integrates with existing property management, energy management and procurement systems for real-time data tracking.

Real estate and construction activity contribute to about 40 per cent of global greenhouse gas emissions, but the sector lacks robust tools to measure climate risks, the company said.

“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 Annu Talreja, founder and CEO at Accacia.