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Today: May 23, 2024
December 13, 2023
1 min read

Aliste Tech nets $1M from YourNest and Artha Ventures!

• Smart home automation startup Aliste Technologies has raised $1 million in a funding round led by YourNest Venture Capital and Artha Venture Fund.
• Other investors include Dholakia Ventures, KRS Jamwal, and Anikarth Ventures, while existing investors include 100X.VC.
• Founded in 2021, Aliste offers retrofit automation products enabling users to manage their appliances via an app or voice assistants with a subscription as low as ₹1 per appliance per day.
• The start-up currently works with over 2,500 residential, commercial, and hospitality projects, including The Taj group of hotels, Vouchagram India, and Stanza living.
• With the newly acquired funds, Aliste plans to extend its footprint across India and increase brand awareness activities.

Aliste Technologies, a smart home automation startup, has secured a $1 million investment in a funding round led by YourNest Venture Capital and Artha Venture Fund. The round also saw participation from other renowned investors including Dholakia Ventures, KRS Jamwal, and Anikarth Ventures, with existing institutional investors such as 100X.VC supporting the company.

Founded in 2021, Aliste Technologies utilises a subscription-based model to offer innovative retrofit automation products. These products enable users to control their existing appliances via an app or voice assistants, with subscriptions starting from just ₹1 per appliance a day. The company provides this service to both homeowners looking to upgrade their living experience and businesses seeking to enhance their customer experience while also saving energy.

Currently, the startup is implemented over 2,500 residential, commercial, and hospitality projects. Prominent clients include The Taj group of hotels, Vouchagram India and Stanza living, highlighting Aliste’s versatility and capability to cater to a diverse range of sectors.

As per the co-founder of Aliste, Anant Ohri, the company’s products are not only designed for luxury and convenience but also result in a 10-15% savings on monthly electricity bills. Their ultimate aim is to achieve savings worth $1 Million on electricity by 2025.

Following the fundraise, the startup intends to expand its operations across India and focus on improving its brand awareness initiatives. By leveraging a subscription-led model, Aliste can continue to tap into the growing home automation market, making it accessible and affordable for many more consumers.

Highlighting the unique business model, Sunil K. Goyal, Managing Director & Fund Manager, YourNest Venture Capital, said that this model provides Aliste the ability to scale rapidly by attracting the expanding, high-income and upper/middle-income demographic across India.

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