An investment round headed by Accel and Eduardo Saverin’s B Capital netted US $2.5 million for the greentech company Accacia, which is located in India. Blume Ventures, Good Capital, Loyal VC, and Rainmatter Vehicle—an investment fund run by regional stockbroking company Zerodha—join the round.
Accacia is a software-as-a-service platform that was established earlier this year that aids businesses in the infrastructure and real estate sectors monitor their decarbonization efforts. Additionally, it may offer suggestions for lowering environmental risk.
The business claimed that more than 20 million square feet of real estate assets in Asia have been equipped with its technology.
Annu Talreja, Piyush Chitkara, and Jagmohan Gaarg founded the company. In 2017, the three founded a student housing company called Oxfordcaps.
Over the coming year, Accacia intends to utilise the new financing to increase its footprint in Southeast Asia, Canada, the US, and the Middle East.
“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.
