Smart Joules is a technology company.
Smart Joules has raised $4.0M across 1 funding round.
Smart Joules has raised $4.0M in total across 1 funding round.
Smart Joules has raised $4.0M in total across 1 funding round.
Smart Joules's investors include ADB Ventures.
Smart Joules is an Indian energy efficiency startup founded in 2014, specializing in zero-upfront-cost solutions like Cooling-as-a-Service and Pay-as-you-Save (JoulePAYS) for commercial and industrial buildings, particularly hospitals.[1][2][3][4][6] It serves major clients such as Apollo Hospitals, Fortis, Max, and ITC Limited, delivering average annual energy savings of 35% and up to 70% in hospitals through its AI-powered DeJoule platform, which uses IoT, machine learning, and reinforcement learning to optimize HVAC systems and eliminate wasted energy.[1][2][3][4][6] The company has raised $12.9M in debt financing, manages over 56 clients across India and Indonesia, employs around 210 people with recent headcount growth, and has saved billions in energy costs while mitigating millions of tonnes of CO2 emissions, positioning it as a leader in sustainable building management.[1][2][3][4][6]
Smart Joules was founded in 2014 in New Delhi, India, by Arjun P. Gupta (CEO, MIT/Berkeley alumnus), Sidhartha P. Gupta (CFO), and Ujjal Majumdar (COO, award-winning Indian Navy engineer), later joined by Gaurav Kejriwal as Chief Product & Technology Officer.[2][3][6] The idea emerged from recognizing barriers to energy efficiency in commercial buildings—high upfront costs, technical complexity, and operational risks—prompting a "pay-as-you-save" model that shoulders CAPEX while guaranteeing savings via data-driven tech.[3][4][6] Early traction came from hospital chains like Apollo and Fortis, with pivotal recognition as a "Champion of Change" by India's Prime Minister’s Office and NITI Aayog, plus endorsements from the World Bank, ADB, and IEA; a 2023 Apollo partnership expanded to 18 hospitals, forecasting 235 million kWh savings.[2][3][4]
Smart Joules rides the global wave of decarbonization and energy transition, capitalizing on India's booming commercial real estate, rising energy costs, and net-zero mandates amid climate goals.[1][2][4] Timing aligns with post-2020 sustainability pushes, including hospital sector needs for resilient, efficient infrastructure; market forces like escalating electricity prices (up due to fossil fuel dependence) and government incentives via NITI Aayog favor its "efficiency-first" approach over renewables alone.[2][3][4] It influences India's ecosystem by mainstreaming Energy Efficiency as a Service (EEaaS), partnering with conglomerates like ITC and Apollo to scale retrofits, fostering a sustainability network via CEO Arjun Gupta's roles in AEEE and Sustainability Mafia, and proving tech-driven models for emerging markets.[2][3][4][6]
Smart Joules is poised for accelerated expansion beyond hospitals into manufacturing and retail, leveraging its DeJoule AI for broader B.O.S.S. (Building Optimization, Savings, Sustainability) adoption amid India's 2030 net-zero ambitions.[1][2][6] Trends like AI-optimized grids, stricter ESG regulations, and ASEAN market entry (e.g., Indonesia) will propel growth, potentially doubling clients via debt scalability and global fund partnerships.[1][2][4] Its influence may evolve from niche hospital savior to national decarbonization engine, as efficiency unlocks profitability in a $100B+ Indian building energy market—cementing its role in making sustainability not just green, but bankable.[2][3][4]
Smart Joules has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Series A in March 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2021 | $4.0M Series A | ADB Ventures |