Commercial air conditioning startup Circolife raises $4.5 M

Mumbai-based Circolife has raised USD 4.5 million in a pre-Series A funding round. The round was led by Bharat Jaisinghani (Joint MD of Polycab India) with participation from Intelliquity Ventures, Param Capital, Nazara founder Nitish Mittersain, Everest Fleet founder Siddharth Ladsariya, Everest Flavours’ Anand Ladsariya, Indian Express executive director Anant Goenka, Sky Impact Capital, Ideas91 founder Rohit Dev and the family offices of S N Damani and Vyom Wealth.Founded in 2023 by Abhishek Murarka, Tushar Patil and Devanshu Mishra, Circolife provides a subscription based model for commercial air conditioning. It utilizes an IoT-enabled predictive maintenance system to monitor equipment performance and is developing digital twins to optimize energy efficiency.The company plans to use the new funds to expand its air conditioning fleet, enter new markets, scale in-house installation and field-service operations, and invest in IoT and AI capabilities.