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Accacia raises $6.5 million in pre-Series A funding to drive decarbonisation in real estate and infrastructure
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Accacia, a decarbonisation platform focusing on the real estate and infrastructure sectors, has successfully closed a $6.5 million pre-Series A funding round. Accacia, initially established in Asia, has already deployed its solution to over 25 million square feet of commercial real estate, with Singapore emerging as a significant market, contributing approximately 70% to its revenue.
Accacia, a decarbonisation platform focusing on the real estate and infrastructure sectors, has successfully closed a $6.5 million pre-Series A funding round. The round was spearheaded by Illuminate Financial, a specialised venture capital firm known for its focus on enterprise fintech companies.
Speaking to CNBC-TV18, Annu Talreja, Founder & CEO of Accacia, emphasised the significance of their platform in addressing the complex emissions tracking challenges prevalent in real estate sector. Talreja stated, “Our platform is specially designed for real estate companies. Real estate has emissions across the value chain and hence it’s a very complex emissions tracking problem.” She further explained, “Our platform automates data collection from different parts of the real estate value chain, enabling us to calculate carbon emissions across the entire value chain.”
The pre-Series A round also saw participation from AC Ventures, a Southeast Asia-based investor, in addition to early supporters Accel and B Capital.
Talreja highlighted that the company is already EBITDA positive and makes revenue by selling software. She added that backing from leading players like Accel, B Capital, Illuminate, and AC Ventures not only provides encouragement but allows the company to have a greater customer reach.
Accacia, initially established in Asia, has already deployed its solution to over 25 million square feet of commercial real estate, with Singapore emerging as a significant market, contributing approximately 70% to its revenue. Talreja outlined plans for expansion, stating, “We plan to utilise this capital to further expand our presence in Southeast Asia, alongside our recent venture into the North American market.”
Commenting on the broader industry landscape, Talreja stressed the importance of investing in innovative technologies to decarbonise the real estate sector. She emphasised the need for investment in technologies spanning energy optimisation, renewable energy, and other innovative solutions to drive sustainable practices within the industry.
In a separate development, Bengaluru-based aerospace components manufacturer JJG Aero announced securing $12 million (approximately Rs 100 crore) in its maiden funding round from CX Partners.
Anuj Jhunjhunwala, CEO of JJG Aero, outlined their plans for expansion, stating, “Most of the funds will be used to expand our capacity and add high precision CNC equipment.”
Jhunjhunwala added that the company plans to move towards higher value-added components, more complexity parts, and make a big foray into adjacent industries like aircraft engines.
Additionally, Viraj Bahl, Founder of Veeba, shared insights into the company’s journey to success. Veeba, is India’s leading home-grown sauce and condiments brand, boasts a portfolio of over 300 SKUs and a distribution network spanning 700 cities.
Watch accompanying video for entire conversation.
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