Circolife Raises $4.5 Million for Air Conditioning Expansion

Indian climatetech startup Circolife has raised $4.5 million (approximately ₹40.45 crore) in a pre-Series A funding round, led by Polycab India’s joint MD Bharat Jaisinghani.

The company plans to deploy the funds to expand its air conditioning fleet, enter new markets, scale its in-house installation and field service operations, and invest in its IoT and AI capabilities.

Founded in 2023, Circolife operates a subscription-based model for commercial air conditioning, allowing businesses to use AC units for a monthly fee while the company handles installation, maintenance, and refurbishment or replacement. The startup currently serves businesses across segments like restaurants, hotels, and gyms in five cities, holding around 10,000 active subscriptions.

With the new capital, Circolife aims to quadruple its customer base over the next two years. The company utilizes IoT technology to monitor operating parameters and predictive maintenance to optimize cooling performance and energy efficiency. The "Cooling as a Service" (CaaS) market in India is growing, as businesses seek alternatives to high upfront costs for energy-intensive equipment.