The company plans to deploy this capital to expand its machine learning platform and cooling-as-a-service infrastructure at a time when India is facing an unprecedented rise in cooling demand across buildings and industries.
In an interview to CNBC-TV18, Smart Joules Founder and CEO Arjun Gupta said the company is now positioned to address one of the largest and fastest-growing sources of energy consumption in the country. “Cooling is the largest end use of energy in India, and we can expect to see another three India’s worth of new power demand just from cooling over the next 20 years,” he said. “Smart Joules wants to cut that in half using both technology and business models.”
A significant share of the funding will be allocated to scaling the company’s machine learning technology, DeJoule, which optimises the full cooling value chain — from design and execution to real-time operations and maintenance. The platform is central to Smart Joules’ ability to guarantee long-term cooling quality and energy savings for customers across its product suite.
The expansion capital will also support the growth of JouleCool, the company’s fastest-scaling vertical. Positioned as a full-service, cooling-as-a-service model for new buildings, JouleCool has seen strong demand from developers looking to integrate high-efficiency cooling infrastructure during the construction phase. The company offers a 10-year guarantee on both cooling performance and energy efficiency, a proposition Gupta said is unmatched in the industry.
Smart Joules also plans to increase its footprint across cooling-intensive sectors such as pharmaceuticals, data centres, semiconductor manufacturing, hospitals, and hotels. Gupta noted that entering new industries requires upfront investment to design and deploy customised systems, and the fresh capital will help accelerate this expansion.
India’s rapid industrialisation and the boom in new infrastructure development are expected to amplify the need for large-scale, high-efficiency cooling systems. “We are really in the gold rush of building heavy cooling infrastructure across India,” Gupta said. He added that the company is investing in capacity building and strengthening its workforce of 250 professionals to meet rising demand.
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With cumulative savings of 32.1 crore kWh of electricity, 2.4 lakh tonnes of emissions avoided, and ₹266 crore in customer savings to date, the company now aims to scale its impact significantly. Smart Joules expects to move from its typical project size of ₹2–3 crore to projects as large as ₹20–30 crore, particularly in industrial and manufacturing settings where cooling requirements can be 10 times larger than in commercial buildings.
The company currently records annual revenues of about ₹70 crore and has more than ₹400 crore in locked-in, multi-year recurring contracts. With larger projects already underway and the new capital supporting scale, Smart Joules is targeting revenues of over ₹200 crore next year.
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