Smart Joules: Company Research Report

Company Overview

Name: Smart Joules

Mission of the Company: To make energy efficiency simple, substantial, and profitable through cooling-as-a-service business models, intelligent automation technologies, and efficiency-first processes, culture, and values.

Founded: 2014

Founders: Arjun Gupta, Ujjal Majumdar, and Sidhartha Gupta

Key People:

• Arjun P. Gupta - Founder & CEO

• Sidhartha P. Gupta - Co-Founder & CFO

• Ujjal Majumdar - Co-Founder & COO

• Gaurav Kejriwal - Chief Product & Technology Officer

• Ameya Ayachit - Chief People Officer

Headquarters: No information is available.

Number of Employees: As of 2020, the company grew to a team of 100 members and by 2024, it became a 200-member strong organization.

Revenue: No information is available.

Company Recognition: Smart Joules is known for its impactful work in energy efficiency, earning numerous awards for its projects and innovative business models, contributing substantially to decarbonization across sectors.

Products

Overview:
Smart Joules offers innovative energy efficiency solutions primarily focused on commercial and industrial buildings. Their approach encompasses a range of services designed to enhance energy conservation and sustainability through advanced technological interventions.

1. JoulePays

• Description: A pioneering pay-as-you-save solution for energy efficiency.

• Key Features:

• Monthly subscription model,

• Zero upfront costs,

• Automated data-based operations.

2. JouleCool

• Description: A zero-investment, cooling-as-a-service solution.

• Key Features:

• Focus on decarbonization,

• Intelligent design.

3. DeJoule

• Description: An efficiency-first AI and IoT-based Building Management System (BMS).

• Key Features:

• Integrated with AI technologies,

• Offers building optimization, savings, and sustainability.

Recent Developments

Recent Developments:

• 2021

• Raised USD 5 million in a successful Series A funding round led by ADB Ventures.

• Expanded into the Indian pharma sector with Amneal Pharma, Ahmedabad.

• 2022

• Signed India’s first corporate-wide energy savings agreement with Apollo hospitals.

• Secured the first JouleCOOL agreement with KIMS Hospitals.

• Signed first DeJoule contracts with Sunshine, GKNM, and ITC.

• 2023

• Forayed into the Indian hospitality sector with Le Meridien, Gurgaon.

• 2024

• Secured $8 million in debt funding from Denmark's IFU.

• Entered international markets with the first DeJoule commissioning in Indonesia.

• Unveiled a new brand identity.

New Products:

• No new products launched have been specifically mentioned.

New Features:

• Continuous improvements in their product functionalities with intelligent design and automation technologies are implicit but not detailed.

Partnerships:

• The report mentions collaborations with institutions for efficiency initiatives, exemplified by agreements with Apollo hospitals, KIMS, Sunshine, etc.

Milestones and Awards

Milestones:

• 2015: Launched JoulePays business model, marking significant progress towards energy efficiency.

• 2016: Recognized for the first JoulePays project by the Ministry of Power and launched DeJoule.

• 2019: Recognized by BASE for pioneering the Cooling-as-a-Service business model in India.

• 2020-2024: Growth in team size, successful project executions, geographic and sectoral expansions.

Awards:

• GREEN BUILDING AWARD at the Smart Cities Expo.

• LEED PLATINUM CERTIFICATION by the U.S. Green Building Council for several clients.

• GOLDEN PEACOCK AWARD FOR ENERGY EFFICIENCY.

Media Highlights

• Featured in Forbes for their work in decarbonization.

• Covered by The Economic Times for helping Indian enterprises save millions in energy costs.

• Highlighted for Series A and later funding rounds by Yourstory and PR Newswire.

Clients and Impact

• Impacted 56+ clients across sectors with average annual energy savings of 35%.

• Operated across 25+ cities, delivering up to 67% energy efficiency in project-specific cases.

This report consolidates available data about Smart Joules, reflecting its mission-driven strategies, innovative product landscape, and significant industry impact in energy efficiency.