Aliste Technologies Secures $1 Million Investment to Democratize Smart Home Automation Across India
Aliste Technologies, a smart home automation startup, has successfully raised $1 million in a funding round led by YourNest Venture Capital and Artha Venture Fund, with 100X.VC as its first institutional investor. Notable investors, including YourNest, Artha Venture Fund, Dholakia Ventures, KRS Jamwal, and Anikarth Ventures, also participated following the 100X.VC pitch day. Aliste Technologies plans to utilize the newly acquired capital to expand geographically and strengthen brand-building initiatives within the growing Indian smart home retail sector.
Founded in 2021 by VIT batchmates Aakarsh Nayyar, Anant Ohri, Bhavya Kansal, Konark Gautam, Shreyansh Jain, and Udit Pandoh, Aliste Technologies aims to make tech-enabled homes accessible to Indian homeowners and businesses, enhancing customer experiences and promoting energy savings. The company’s flagship products, the Switchboard Automation Module and Universal Remote Module, seamlessly integrate with the Aliste app, offering a sophisticated and user-friendly experience. With over 2,500 completed projects in 25 Tier-I and Tier-II cities across India, Aliste Technologies is making significant strides in the smart home automation market.
Anant Ohri, Co-Founder of Aliste, notes, “We see a major gap in the consumer IoT segment in India. As aspirations of working Indians soar, we believe our solution has the ability to provide a well-packaged automation solution and result in energy savings.”
Ninad Karpe, Partner at 100X.VC, comments, “Aliste Technologies has carved a niche for itself with its innovative subscription-based model in this market. The company has achieved the unimaginable by introducing home tech that is not only convenient but also affordable for customers.”
Sunil K. Goyal, MD and Fund Manager at YourNest Venture Capital, adds, “Aliste’s innovative low capex and subscription model make it unique and give it the capability to scale at a rapid pace by targeting young adults in the expanding high-income and upper/middle-income demographics across India.”
Anirudh A. Damani, Managing Partner at Artha Venture Fund, highlights Aliste’s ability to tap into changing consumer behavior and affordability, stating, “The surging demand for automation in residential and B2B channels and Aliste’s approach to leverage the market opportunity with a subscription-led model prompted us to invest in the company.”
Aliste Technologies addresses the significant barrier of high capital expenditure in smart home adoption in India, offering a subscription cost of just Rs 1 per appliance per day. This approach enables homeowners to automate a typical 3 BHK at just ~Rs 500 per month, significantly lower than the conventional automation route that requires a one-time investment of over Rs 1 lakh.
Experiencing remarkable growth with its subscription-based model, Aliste Technologies aims to expand its presence nationwide and enhance brand awareness initiatives with the newly secured capital.
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