Circolife Raises ₹40.45 Cr To Expand Cooling-as-a-Service Nationally

Circolife, a Cooling-as-a-Service (CaaS) platform for businesses, has raised $4.5 million (₹40.45 crore) in a Pre-Series A round. Its current scale includes ~10,000 active subscriptions across five cities, and it is targeting the addition of 40,000 active units at a national scale within 24 months.

The round was anchored by early-stage investor and mentor Bharat Jaisinghani, Joint Managing Director of Polycab India Limited. It also drew participation from a group of individual, fund, and family-office investors, including Nitish Mittersain (Founder, Nazara Technologies); Intelliquity Ventures (Mukul Agarwal, Param Capital); and Sumit Jalan (MD of a global investment bank).

Other participants showcasing interest include Siddharth Ladsariya (Founder, Everest Fleet) and Anand Ladsariya (MD, Everest Flavours); Anant Goenka (ED, Indian Express); Sky Impact Capital (Aakash Sachdev); Rohit Dev (Founder, Ideas91); and family offices S N Damani and Vyom Wealth (Ramesh Jaisinghani Family Office).

Circolife Platform Creates Hassle-Free Ownership

Circolife creates hassle-free ownership through its subscription platform: businesses get the units installed, pay monthly, and avoid the hassle of maintaining an air conditioner. Every unit is energy-efficient by design, and because Circolife owns it for the length of the contract, the company only makes money if that efficiency holds up over years of use — delivering real, compounding savings on the customer’s electricity bill, rather than simply reducing breakdowns.

Speaking about the fundraise, Abhishek Murarka, Co-Founder & CEO, Circolife, said, “Five cities and 10,000 subscriptions have shown us this model works. 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.”

That incentive drives how Circolife builds its technology. Every unit is a connected device, with sensors tracking temperature, power draw, and gas pressure in real time. It feeds a predictive-maintenance engine that catches a failing part before it becomes a breakdown.

Circolife is extending that same data layer with AI and advanced sensors — building a digital twin of every device first and extending it to a digital twin of the site itself, so an entire property’s cooling performance can be modelled and improved in real time.

The aim throughout is a better experience for the customer: fewer surprises, more visibility into what the subscription delivers, and a system that keeps getting smarter on its own. An in-house field service team covers every city where Circolife operates, while two dedicated facilities in Mumbai and Delhi refurbish and redeploy units at the end of their life instead of scrapping them.

According to Bharat Jaisinghani, “Cooling has always been energy-hungry and high-maintenance, and Circolife makes it effortless — pay monthly, and never think about upkeep again. That effortlessness runs on real technology, quietly monitoring every unit to catch problems before they happen. That’s the kind of deep-tech-meets-simple-experience business I look for, and why I backed this team from the start.”

Since launching operations in Mumbai at the end of 2023, Circolife has spent roughly two and a half years building a fleet across five Indian cities, serving a growing roster of small business and enterprise customers pan-India across industries including restaurants, hotels, gyms, salons, co-living operators, and more. This raise is aimed at a fourfold increase in its current subscription base, scaling to 40,000 units within 24 months.

“I’m drawn to businesses where every customer and every transaction makes the platform smarter. That creates a powerful compounding advantage. Circolife may look like an AC subscription business on the surface, but underneath, it is building a data and intelligence layer that can make the entire fleet more efficient with scale,” said Nitish Mittersain, Founder, Nazara Technologies.

Circolife will use the new capital to expand its fleet and geographic footprint, scale in-house installation and service, and advance its AI-augmented IoT predictive-maintenance and digital twin platform. Over the next 24 months, the company is targeting 40,000 active units nationally, led by its co-founders.

The co-founders are Chief Executive Officer (CEO) Abhishek Murarka, who has two decades of experience in corporate finance and investment banking, and Tushar Patil (COO), who has more than 20 years of experience in global sourcing and supply chain.

Other people advising closely include Devanshu Mishra (CTO), an IIT Roorkee alumnus with expertise in IoT hardware and firmware engineering; Shalin Khanna (CDO & CMO), who brings two decades of experience in financial services, digital technology, and brand building; and Strategic Advisor Vineet Taneja (ex-President, Dyson APAC; CEO, Micromax; Country Head, Samsung India).