Circolife, India’s Cooling-as-a-Service (CaaS) platform for businesses, has raised $4.5 million (Rs 40.45 crore) in a Pre-Series A funding round to expand its cooling subscription model across the country. The company plans to scale its fleet from around 10,000 active subscriptions across five cities to 40,000 units nationally over the next 24 months.

The funding round was anchored by early-stage investor and mentor Bharat Jaisinghani, Joint Managing Director, Polycab India Limited, with participation from individual investors, funds and family offices including Nitish Mittersain, Founder, Nazara Technologies; Intelliquity Ventures; Sumit Jalan; Siddharth Ladsariya, Founder, Everest Fleet; Anand Ladsariya, Managing Director, Everest Flavours; Anant Goenka, Executive Director, Indian Express; Sky Impact Capital; Rohit Dev, Founder, Ideas91; and family offices S N Damani and Vyom Wealth.

Circolife enables businesses to access air conditioning through a subscription-based model, eliminating upfront ownership costs and maintenance challenges. The company provides energy-efficient cooling solutions while managing the equipment lifecycle, ensuring performance efficiency throughout the contract period.

The company’s technology platform uses IoT-enabled sensors to monitor parameters such as temperature, power consumption and gas pressure in real time. This data supports its predictive maintenance system, helping identify potential issues before equipment failures occur. Circolife is also developing AI-driven capabilities and digital twin technology to optimise cooling performance at both equipment and site levels.

“We have demonstrated that this model works with five cities and 10,000 subscriptions. This raise enables us to build at a national scale — expanding our fleet, field service capabilities and technology platform to make Cooling-as-a-Service a mainstream solution in India,” said Abhishek Murarka, Co-Founder & CEO, Circolife.

Since commencing operations in Mumbai in 2023, Circolife has expanded its presence across five cities, serving businesses including restaurants, hotels, gyms, salons and co-living operators. The company operates dedicated refurbishment facilities in Mumbai and Delhi to redeploy units at the end of their lifecycle.

The fresh capital will be used to expand its geographic footprint, strengthen installation and service capabilities, and enhance its AI-enabled IoT predictive maintenance and digital twin platform. The company is led by co-founders Abhishek Murarka (CEO), Tushar Patil (COO), Devanshu Mishra (CTO) and Shalin Khanna (CDO & CMO), with Vineet Taneja serving as Strategic Advisor.