Circolife, a cooling-as-a-service (CaaS) platform for businesses, on Tuesday announced that it has raised $4.5 million (Rs 40.45 crore) in a pre-Series A round, anchored by early-stage investor and mentor Bharat Jaisinghani, Joint Managing Director of Polycab India Limited.
The round also drew participation from a group of individual, fund, and family-office investors: Nitish Mittersain (founder, Nazara Technologies); Intelliquity Ventures (Mukul Agarwal, Param Capital); Sumit Jalan (MD of a global investment bank); Siddharth Ladsariya (founder, Everest Fleet) and Anand Ladsariya (MD, Everest Flavours); Anant Goenka (ED, Indian Express); Sky Impact Capital (Aakash Sachdev); Rohit Dev (Founder, Ideas91); and family offices S N Damani and Vyom Wealth (Ramesh Jaisinghani Family Office).
Circolife operates an AC subscription platform that allows businesses to use air conditioners for a monthly fee, with the company handling ownership and maintenance.
The company will use the new capital to expand its fleet and geographic footprint, scale in-house installation and service and advance its AI-augmented IoT predictive-maintenance and digital twin platform. Over the next 24 months, the company is targeting 40,000 active units nationally.
“Five cities and 10,000 subscriptions have shown us this model works. This raise is what lets us actually start building at national scale—the fleet, the field service, the technology—and make Cooling-as-a-Service India’s default way to buy cooling, not an alternative to it,” said Abhishek Murarka, co-founder & CEO, Circolife.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from September 4-8, 2026.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | Verticals |
|---|---|---|---|---|---|---|---|
| Circolife | Mumbai | 4,500,000 | pre-Series A | Bharat Jaisinghani, Joint Managing Director of Polycab India Limited | Nitish Mittersain (Founder, Nazara Technologies); Intelliquity Ventures (Mukul Agarwal, Param Capital); Sumit Jalan (MD of a global investment bank); Siddharth Ladsariya (Founder, Everest Fleet) and Anand Ladsariya (MD, Everest Flavours); Anant Goenka (ED, Indian Express); Sky Impact Capital (Aakash Sachdev); Rohit Dev (Founder, Ideas91); S N Damani and Vyom Wealth (Ramesh Jaisinghani Family Office) | Heating, Cooling and Ventilation Equipment | Cleantech |
| Iztri | Bengaluru | 1,100,000 | Seed | All In Capital, Suashish Group | Anupam Mittal, Kunal Shah, Tanmay Bhat, Gaurav Munjal, Roman Saini, Abhishek Goyal, JK Tyre family, Shadowfax founders Abhishek Bansal and Vaibhav Khadelwal, PedalStart | Consumer Services | E-commerce |
| HerSpace Manufacturing | Bengaluru | 40,000,000 | - | Gray Matters Capital (GMC) | - | Real Estate Development & Operating Company | Real Estate Tech |
| DaMENSCH | Bengaluru | - | - | - | - | Retail | E-commerce |
| Swish | Bengaluru | 24,000,000 | Series B | Bertelsmann India | - | Logistics/Distribution | E-commerce |
| Pixxel | Bengaluru | 100,000,000 | Series C | Temasek, Seraphim Space | 360 ONE Asset, IMM Investment, Radical Ventures, growX Ventures | Aerospace | Spacetech |
| Navana.ai | Mumbai | 4,200,000 | Series A | Ronnie Screwvala | Antler India, Sharad Sanghi, Sandeep Singhal, Paula Mariwala | Software | AI and Machine Learning |
| Lickicious | Mumbai | 2,000,000 | Equity/Debt | Prath Ventures | - | Food | E-commerce |
| Leanwatts | Hyderabad | 2,000,000 | Seed | Trivest Partners | Abraham George, Alok Rungta | Energy Storage & Batteries | Electric/Hybrid Vehicles |
| YoLearn.ai | Noida | - | Seed | ABP Education | - | Education/Training | Edtech |
| Makr Microsystems | Bengaluru | 1,080,000 | Seed | Bluehill VC | Artha Venture Fund | Semiconductors | Nanotechnology |
| Nua | Mumbai | 50,000,000 | Series C | Peak XV Partners, Filter Capital | Mirabilis Investment Trust, Footpath Ventures | Consumer Products | Beauty & Hygiene |
| Sugar Cosmetics | Mumbai | 15,300,000 | - | A91 Partners | - | Consumer Products | Beauty & Hygiene |
| Comet | Bengaluru | 10,500,000 | Series B | Verlinvest | Elevation Capital, Nexus Venture Partners, Abhiraj Singh Bhal, Co-founder and CEO of Urban Company, Ajit Mohan, Global Chief Business Officer of Snap Inc., and Anand Ahuja, Founder & CEO of Bhaane and Co-founder of VegNonVeg | Retail | E-commerce |
