Last Updated on December 15, 2025 by Author
Delhi-headquartered energy efficiency solutions provider Smart Joules has raised USD 10 million in a Series B funding round to accelerate its expansion across India’s commercial and industrial sectors.
The funding round was led by SVL SME Neev II Fund, managed by SBI Ventures Limited, with strategic participation from Waaree Renewable Technologies, a leading solar energy company, and Spectrum Impact.
Smart Joules plans to deploy the new capital to broaden its energy efficiency and cooling operations, targeting larger and diversified projects across manufacturing units, building automation and district cooling systems. The proceeds will also be used to strengthen the company’s technology, analytics and field execution capabilities.
Founded in 2014 by Arjun P. Gupta, Sidhartha P. Gupta and Ujjal Majumdar, Smart Joules has developed a suite of performance-based energy solutions, including JoulePays (energy efficiency performance contracting), DeJoule (AI-enabled building management), and JouleCool (cooling-as-a-service).
Arjun P. Gupta, Founder and CEO of Smart Joules, highlighted the company’s decade-long expertise in cooling and automation, noting that the firm has built mature AI and IoT capabilities to intelligently automate buildings and industrial facilities. He added that the funding will help accelerate progress toward Smart Joules’ vision of eliminating 29 million tonnes of carbon emissions by 2030 by positioning energy efficiency as the first fuel in the built environment.
To date, Smart Joules has reported conserving more than 32.1 crore kWh of energy, reducing around 2.4 lakh tonnes of CO₂ emissions, and delivering approximately ₹266 crore in energy cost savings for its clients — demonstrating that decarbonisation and cost efficiency can go hand in hand.
