Climatetech startup Circolife has raised $4.5 million (around ₹40.45 crore) in a pre-Series A funding round led by Polycab India’s joint MD Bharat Jaisinghani, the company announced. The Thane-based firm plans to use the capital to expand its air conditioning fleet, enter new markets, and scale its installation and service operations. Founded in 2023, Circolife operates a subscription model for commercial air conditioning units, serving around 10,000 active subscriptions across five cities.
The funding round included participation from notable investors such as Nazara founder Nitish Mittersain, Intelliquity Ventures, Param Capital, Everest Fleet’s founder Siddharth Ladsariya, Indian Express’ executive director Anant Goenka, Sky Impact Capital, Ideas91’s founder Rohit Dev, and family offices S N Damani and Vyom Wealth. Circolife’s founders Abhishek Murarka, Tushar Patil, and Devanshu Mishra aim to deploy the fresh capital to enhance their IoT and AI capabilities alongside expanding their refurbishment and redeployment facilities in Mumbai and Delhi.
Circolife’s subscription-based model targets commercial clients including restaurants, hotels, gyms, salons, and co-living operators, providing AC units on a monthly fee basis with installation, maintenance, and eventual refurbishment managed by the company. The startup aims to grow its customer base fourfold over the next two years, reflecting a growing trend in climatetech solutions that emphasize sustainability and operational efficiency. The refurbishment facilities help extend the lifecycle of AC units, supporting circular economy principles in the sector.
Circolife currently operates two refurbishment centers in Mumbai and Delhi and plans to scale its in-house installation and field-service operations. The company’s next milestone is to increase its active subscriptions from 10,000 to approximately 40,000 within two years, leveraging the new capital to strengthen its market presence and technology stack.