Climate-tech startup Circolife has raised $4.5 million, or around Rs 40.45 crore, in a pre-Series A funding round as it looks to expand its subscription-based air-conditioning business across India. 

The round was led by Bharat Jaisinghani, joint managing director of Polycab India, and saw participation from several individual investors, family offices and venture investors.

Other investors participating in the round include Nazara founder Nitish Mittersain, Intelliquity Ventures, Param Capital, Siddharth Ladsariya, Anand Ladsariya, Anant Goenka, Sky Impact Capital and Ideas91 founder Rohit Dev, along with family offices S N Damani and Vyom Wealth.

Circolife operates on a Cooling-as-a-Service (CaaS) model, where businesses can use energy-efficient air conditioners through a monthly subscription instead of making a large upfront investment. The company also takes care of installation, servicing, repairs and maintenance, helping customers avoid the cost and hassle of owning and maintaining AC equipment.

The startup plans to use the fresh capital to expand its AC fleet, enter new markets and strengthen its in-house installation and field-service network. It will also invest in its technology platform, including IoT-based monitoring, AI-powered predictive maintenance and digital twin capabilities.

Circolife currently has around 10,000 active subscriptions across five cities, according to company-related disclosures, and is targeting around 40,000 units at a national scale over the next 24 months.

The company’s model comes as businesses look for ways to lower energy costs while avoiding heavy capital spending on equipment. Circolife says its subscription service provides 5-star ACs along with maintenance and smart monitoring, while its platform can help businesses track energy use and improve cooling efficiency.

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