Smart home startup Aliste Technologies raises $1 million from YourNest Venture Capital and Artha Venture Fund


Biznextindia : Smart home automation startup Aliste Technologies has raised $1 million in a round led by YourNest Venture Capital and Artha Venture Fund. The round also saw participation from renowned investors like Dholakia Ventures, KRS Jamwal, and Anikarth Ventures, among others. Existing institutional investors in the company include 100X.VC. Aliste, which has built a strong presence in NCR & has now expanded to Bangalore, is seeing phenomenal growth owing to its subscription-based model for its customers.

Founded in 2021 by VIT batchmates Aakarsh Nayyar, Anant Ohri, Bhavya Kansal, Konark Gautam, Shreyansh Jain, and Udit Pandoh, Aliste Technologies is addressing the home automation market to make tech-enabled homes within the reach of homeowners and businesses looking to provide an upgraded customer experience and save energy. The brand offers innovative retrofit automation products allowing users to control their existing appliances via an app or voice assistants with a subscription model starting at ₹1 per appliance per day. Their footprint currently spans over 2,500 residential, commercial and hospitality projects with clients like The Taj group of hotels, Vouchagram India and Stanza living in their portfolio.
Anant Ohri, Co-founder of Aliste, said, “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 not only provide a well-packaged automation solution but also result in energy savings. Aliste’s products are designed with the luxury and convenience of its users in mind while providing 10 – 15% savings on their monthly electricity bills. Our aim is to save electricity worth $1 Million by 2025.”

Commenting on the fundraise, Sunil K. Goyal, Managing Director & Fund Manager, YourNest Venture Capital, said, “Aliste’s innovative low capex and subscription model makes it unique and gives 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. The founding team has already been solving this problem for the last three years since their final year of college and has the motivation and energy to create a large global organisation.”

Leave A Reply

Your email address will not be published.