Real estate and infrastructure decarbonization platform Accacia, run by Process Botics Pvt. Ltd, on Tuesday raised about $2.5 million (about Rs 20.5 crore) in a seed funding round led by Accel and B Capital.
Other investors in the round included Blume Ventures, Good Capital, Zerodha’s Rainmatter Fund and Canada-based Loyal VC, and some angel investors, according to a press statement.
The platform used for real estate decarbonization will channel the funds towards geographical expansion across Southeast Asia, West Asia, US, and Canada over the next year. The SaaS firm also plans to ramp up hiring following this fundraise, one of the company’s co-founders, Jagmohan Garg said.
Accacia currently has offices in Gurugram and Bengaluru, with about 30-40 employees on its payroll.
“The (construction) sector lacks robust tools to measure climate risks and define decarbonization strategies. We are working with large asset managers, developers, and real estate operators to help them with tools they need to define and monitor their path to net zero,” said Annu Talreja, founder and chief executive officer at Accacia.
Founded in 2022 by INSEAD alumnus Talreja along with Garg and Piyush Chitkara, the AI-based decarbonization platform, Accacia, measures and benchmarks the environmental risks on its clients’ portfolios, while suggesting decarbonization strategies at the asset and portfolio level.
The startup claims to have deployed its solution to over 20 million square feet of institutional real estate across Asia.
According to its website, some of its clients include Lemon Tree Hotels, Shapoorji Pallonji, Hines, Warburg Pincus, among others. Its platform can be deployed at asset classes including commercial real estate, hotels, college campuses, financial institutions, warehouses, data centres and infrastructure projects to monitor routine carbon emissions. The firm plans to deploy its AI-based solution to about 50-80 million square feet of real estate in the next couple of months, Garg said.
Among other fundraises for decarbonization-enabling platforms, Serentica Renewables, a decarbonization platform that seeks to enable energy transition by providing clean energy solutions, raised $400 million from global private equity giant KKR last month.