The real estate and infrastructure sectors contribute about 40% to global carbon emissionsand part of solving the climate crisis is determining how those industries work. Accacia offers large property owners a way to track their carbon impact in real time by integrating with ERPs and property management systems such as Yardi. Already committed to more than 20 million square feet of real estate in Asia, it today announced $2.5 million in seed funding that will be used to expand in Southeast Asia, the Middle East, the United States and Canada .
Funding was led by Accel and B Capital. Participants included Blume Ventures, Good Capital, Zerodha’s Rainmatter Fund, Loyal VC and angel investors.
Founded in 2022 by Annu Talreja, Piyush Chitkara and Jagmohan Garg. Prior to Accacia, Talreja spent over 15 years in the real estate industry, with companies such as AECOM and Marriott.
During that time, she saw an evolution in how the industry was impacted by climate-related events.
“Climate change-induced flash floods, hurricanes and wildfires have affected real estate prices worldwide and rising energy costs have necessitated the use of alternative energy sources,” she told businesskinda.com. “Unlike many other industries, the impact of climate change in real estate is ‘here and now’ and as someone who has worked in the design, construction and investment of buildings, the combination of my skills enabled me to analyze this impact holistically. to watch. way.”
Accacia’s target market is large real estate owners and asset managers, including REITs, pension and sovereign wealth funds, and developers. Most own and manage real estate AUMs in excess of $1 billion. Accacia’s platform can track the carbon emissions of all investment asset classes, including commercial, retail, multifamily, and data centers. It is also used by consulting firms serving real estate and infrastructure companies that have set net zero goals.
Emissions tracked by Accacia include Scope 1 (direct emissions), Scope 2 (indirect emissions from purchases of generated energy), and Scope 3 (emissions from a company’s value chain) for real estate, including embodied carbon, financed emissions, and emissions of business activities.
An example of how Accacia can be used is a commercial real estate fund with over 10 million square feet of assets. After deploying Accacia, it was able to reduce its direct emissions by 20% within the first six months of using the platform. Another client, a publicly traded hotel company with more than 100 assets, used Accacia to reduce its Scope 3 emissions through the platform’s recommendation engine.
In a statement on the investment, B Capital partner Karan Mohla told businesskinda.com, “As an industry, real estate and infrastructure need a nuanced and focused approach to climate reporting, adaptation and mitigation. Accacia is taking a leading role in building a global platform to solve this challenge. AB Capital. we believe in their vision to build a technology-led and scalable SaaS platform to achieve net zero goals for property owners and asset managers.”
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