Accacia, has raised US$2.5 million in a seed funding round led by Accel as well as Eduardo Saverin’s B Capital. Joining the round are Blume Ventures, Good Capital, Loyal VC, and Rainmatter Fund – an investment fund of local stockbroking firm Zerodha. Founded earlier this year, Accacia is a software-as-a-service (SaaS) platform that helps companies in the real estate and infrastructure sectors measure their decarbonization efforts. It can also give recommendations to reduce environmental risk.
The company said its tech has been used for more than 20 million square feet of real estate assets across Asia. The company boasts that their service has helped a huge number of real estate assets across Asia. Acacia’s technology has helped in the decarbonization of many places across the entire continent.
The firm was established by Annu Talreja, Piyush Chitkara, and Jagmohan Gaarg. A few years ago the trio built a student housing firm called Oxfordcaps 2017.
Accacia plans to use the fresh funding to expand its presence in Southeast Asia, Canada, the US, and the Middle East over the next year. “Only 3,000 of roughly 40,000 listed companies currently report their emissions, making climate reporting and decarbonization a massive opportunity,” Accel partner Prashanth Prakash said in a statement.
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