Circolife raises $4.5M to scale cooling subscriptions across India
What's the deal? CircolifeDealroom has a profile for this one. Try Dealroom →, a Thane-based cooling-as-a-service (CaaS) platform, has raised $4.5 million (₹40.45 crore) in a pre-Series A round led by Bharat JaisinghaniDealroom has a profile for this one. Try Dealroom →, joint managing director of Polycab IndiaDealroom has a profile for this one. Try Dealroom →. The round drew a group of individual, fund, and family-office investors, including Nitish MittersainDealroom has a profile for this one. Try Dealroom →, Intelliquity Ventures, Sumit JalanDealroom has a profile for this one. Try Dealroom →, Siddharth LadsariyaDealroom has a profile for this one. Try Dealroom →, Anand LadsariyaDealroom has a profile for this one. Try Dealroom →, Anant Goenka, Sky Impact CapitalDealroom has a profile for this one. Try Dealroom →, Rohit Dev, and family offices S N Damani and VyomDealroom has a profile for this one. Try Dealroom → Wealth.
What does it do? Founded in 2023 by Abhishek Murarka, Tushar Patil, and Devanshu Mishra, Circolife owns, installs, and services air-conditioning units for the length of a subscription contract, with customers paying a monthly fee. It operates across five Indian cities, serving restaurants, hotels, gyms, salons, co-living operators, and corporate offices.
What's the endgame? The company plans to grow its fleet fourfold, from roughly 10,000 subscriptions today to 40,000 units within 24 months. Funds will also expand its geographic footprint, scale its in-house installation and service teams, and advance an IoT-based predictive-maintenance and digital twin platform.
Every unit is a connected device, with sensors tracking temperature, power draw, and gas pressure in real time to flag failing parts before they break down. Two facilities in Mumbai and Delhi refurbish and redeploy units at end of life instead of scrapping them.
"This raise is what lets us actually start building at national scale — the fleet, the field service, the technology — and make Cooling-as-a-Service India's default way to buy cooling, not an alternative to it," said Murarka, co-founder and chief executive officer.
Why it works: Because Circolife owns the equipment, it only profits if efficiency holds up over years of use, aligning its incentives with lower electricity bills for customers. "That's the kind of deep-tech-meets-simple-experience business I look for, and why I backed this team from the start," Jaisinghani said.
The signal: CaaS is gaining traction in India's climate-tech and energy-efficiency ecosystem, letting businesses access cooling without upfront capital. Smart Joules raised $10 million in Series B last December, and Tan90Dealroom has a profile for this one. Try Dealroom → is building a similar model for cold-chain businesses — a sign that subscription cooling is moving from niche to contender.
Read more: newspatrolling.com, entrackr.com
Image credit: Keith Williamson
