Decarbonisation startup Accacia raises US$6.5 million
Venture capital firm Illuminate Financial leads the funding round
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Vietnam education startup Prep bags US$7 million in Series A funding
Cruise operator Viking prices IPO within range to raise US$1.54 billion: source
Ninja Van axes more than 20 employees in tech team in Singapore
Temasek-backed PsiQuantum to build first commercial quantum computer
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
GoTo narrows Q1 loss to 420 billion rupiah with TikTok deal, cost cuts