Noida-based energy management and IoT startup Aliste Technologies has raised INR 30 crore (US$3.22 million) in a Pre-Series A round. The funding includes both equity and debt and was led by Big Global JSC, along with support from an existing investor.
The company will use this money to improve its research and expand its distribution to reach more customers.
“Aliste is building the intelligence layer for energy – helping enterprises to monitor, control, and optimize usage across hospitality, co-living, and commercial spaces,” said Shreyansh Jain, Co-Founder & CTO of Aliste.
“Our core conviction is that what is good for the planet is inherently good for business. We are proving that sustainability is a critical financial lever, not just an ESG check-box”, he added.
Preetinder Panjrath, CFO of BIG Capital commented, “As AI adoption accelerates energy cost will continue to accelerate the upward trend, which will negatively impact business operating margins and straining disposable incomes. Aliste Technologies energy management system is positioned at the intersection of AI adoption and higher energy costs and we expect them to be a prime beneficiary of this trend as it helps alleviate the structural rise in energy cost.
Founded in 2021 by VIT batchmates Anant Ohri, Aakarsh Nayyar, Bhavya Kansal, Konark Gautam & Shreyansh Jain, Aliste started as a smart home brand for regular consumers. Later, it shifted its focus to providing energy management solutions for businesses like hotels, co-living spaces, retail stores, and commercial buildings.
The company started with smart home automation and offers devices like switches and sensors that can be controlled through mobile apps or voice assistants such as Alexa, Google Home, and Siri. These devices work with existing wiring, so users don’t need major changes in their homes.
The company offers products like motion sensors, touch switches, and smart gate systems. It also provides analytics that help users clearly understand their energy usage.
Right now, Aliste manages about 3 million units of energy every month using more than 1.5 lakh IoT devices. Its solutions help reduce around 3.28 lakh kg of CO₂ emissions every month.
So far, the startup has raised over $4 million in funding, including a $1 million seed round in December 2023.
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