Smart Joules, India’s only efficiency-first energy solutions company, has secured USD 10 million in Series B funding from SVL SME Neev II Fund, Waaree Renewable Technologies, and Spectrum Impact. The investment strengthens the company’s mission to scale energy efficiency and cooling technologies across commercial and industrial sectors throughout India.
The new funds will support the expansion of large-scale cooling and automation projects, manufacturing-linked efficiency solutions, and advanced technology development in analytics, AI, and IoT. Founded in 2014 by Arjun P Gupta, Sidhartha P Gupta, and Ujjal Majumdar, Smart Joules has been at the forefront of reshaping how buildings and industrial facilities in India manage energy use.
The company offers a full suite of services that help eliminate energy waste while maintaining comfort and operational reliability. Its portfolio includes India’s leading energy-efficiency performance contracting model, a Cooling-as-a-Service platform, and an AI-driven building management and automation system. Over the past decade, Smart Joules has built a strong record of measurable impact, having conserved over 32 crore units of electricity, reduced 2.4 lakh tonnes of carbon emissions, and saved clients Rs 266 crore in energy expenditure.
Commenting on the fundraise, Founder and CEO Arjun P Gupta said that Smart Joules has spent years developing a deep foundation in cooling, automation, and AI-powered energy optimization. He stated that the company’s partnership with the new investors will accelerate progress toward its goal of eliminating 29 million tonnes of carbon emissions by 2030 and positioning efficiency as the primary source of energy savings in the built environment.
Prem Prabhakar, MD and CEO of SBI Ventures Ltd., said that Smart Joules reflects the future of responsible energy consumption, combining efficiency, technology, and positive environmental outcomes. Akshay Panth, Chief Investment Officer of Neev Funds, highlighted that energy efficiency will play a crucial role in India’s sustainability journey and that Smart Joules is well equipped to lead this shift through innovation and technology-driven models.
Viren Doshi, Executive Director of Waaree Renewable Technologies Limited, noted that efficiency and Cooling-as-a-Service are becoming essential components of energy transition platforms in India and globally. Mirik Gogri of Spectrum Impact added that Smart Joules has proven its ability to execute and scale solutions that deliver immediate decarbonization for commercial and industrial clients.
Smart Joules continues to advance its vision of profitable decarbonization and remains focused on making energy efficiency a primary driver of India’s path to net zero. The latest investment marks a significant milestone in the company’s journey toward expanding its reach, enhancing technological leadership, and strengthening India’s position as a global benchmark for efficiency-led growth.
