Circolife Raises $4.5 Million Pre-Series A Round Led by Polycab India's Bharat Jaisinghani
Thane-based Circolife, a Cooling-as-a-Service (CaaS) platform for businesses, has raised $4.5 million, around Rs 40.45 crore, in a pre-Series A round anchored by Bharat Jaisinghani, Joint Managing Director of Polycab India Limited.
Here's what makes the model interesting. Instead of businesses buying expensive air-conditioning equipment outright, Circolife installs and owns the AC units while customers simply pay a monthly subscription fee. Every unit is a connected device fitted with sensors tracking temperature, power consumption and gas pressure in real time, feeding into a predictive-maintenance system designed to catch potential failures before they turn into breakdowns. The company is now extending this data layer further with AI, building digital twins not just of individual devices, but eventually of entire properties, so cooling performance across a whole site can be modelled and optimised in real time.
The round drew a genuinely diverse investor base beyond Jaisinghani. Nitish Mittersain of Nazara Technologies, Intelliquity Ventures, investment banker Sumit Jalan, Everest Fleet founder Siddharth Ladsariya, Everest Flavours' Anand Ladsariya, Indian Express executive director Anant Goenka, Sky Impact Capital, Ideas91 founder Rohit Dev, and family offices S N Damani and Vyom Wealth all participated, a mix that signals confidence from experienced operators and industrial family capital alike.
The traction so far backs the pitch. Circolife currently runs roughly 10,000 active subscriptions across five cities, and co-founder and CEO Abhishek Murarka said this scale is what convinced the company it's ready for a genuine national push, covering fleet expansion, field service and technology all at once. The fresh capital will go toward exactly that, growing the AC fleet, entering new geographies, scaling in-house installation and service teams, and deepening the IoT and AI capabilities behind its predictive-maintenance platform. The company is targeting 40,000 active units nationally within the next 24 months, a 4X jump from its current base.
There's a sustainability angle too. Circolife runs two dedicated facilities in Mumbai and Delhi that refurbish and redeploy units at the end of their working life rather than scrapping them, an approach that fits neatly into India's growing climate-tech and energy-efficiency startup ecosystem, where cooling infrastructure delivered as a service, not an upfront purchase, is gaining real traction.
From ten thousand subscriptions in five cities to a forty-thousand-unit national ambition, Circolife's bet is that India's cooling problem is best solved as a service, not a sale.
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— Sandeep Raiza