Clairco, a cleantech startup has today announced having raised INR 4.2 cr in angel funding. The fund round was led by Mr. Sanjiv Bajaj (Jt Chairman & Managing Director, Bajaj Capital) at Anicut Angel Fund. The fresh infusion of funds will be used for product development, growth and hiring. Investors like Max Group and Angel List also participated in the round.
Founded in 2018 by Aayush Jha and Udayan Banerjee, Clairco is an Internet of Things (IoT) startup that has taken on the global menace of air pollution and the lack of comprehensive economical solutions around it to introduce a patented process of air purification which offers clean air as a service by charging a monthly fee on the lines of a SAAS model. The company has developed this patent-pending air purification system in-house.
Clairco has seen significant traction since it started its fundraise effort and intends to continue its high growth trajectory with an 8x growth in FY 21-22. It has an impressive order pipeline and a great traction of new business with almost 100% retention. The venture has marquee clients like Brigade, WeWork, Emaar, Brookfield, Capita Land and Max Group to name a few. This fundraise will help them launch in the Middle East and expand globally in the near future.
Sanjiv Bajaj, Jt Chairman and Managing Director, Bajaj Capital and the lead investor at Anicut Angel Fund said, “Clean air is a fundamental right of every human and we, as business owners have to take ownership of providing the same to our teams. While you can easily spend crores and install this equipment to provide clean air, most of the times the purpose is not met as this is a very high maintenance job which requires regular cleaning, change of filters, maintenance etc and we thus end up with polluted air despite huge capital investments. I was impressed that Clairco takes away the need for the capital requirement and the hassle by providing clean air as a service with real-time air quality monitoring, where the companies have to shell out a very small amount as a part of maintenance month on month. This is the future; we have seen many large buildings and corporations move to Clairco as they now understand that this is a high maintenance service with ever evolving technology, I wish Clarico and its team all the very best and successful journey ahead.”
Aayush Jha Co-founder & CEO, Clairco added: “Indoor air purification is a must need in the pandemic hit world and we believe Clairco’s solution is perfectly aligned with the needs of commercial buildings for ensuring safe reopening and well-being of its occupants as we move back to normalcy. This investment will help us build the core team and enhance R&D capabilities. We have grown 5x FY20-21 and will continue to grow by adding more geographies. We are managing clean air at 2.5 Mn. sq.ft. at the moment and aspire to grow 10x by the next year.”
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