Smart home automation startup Aliste Technologies has raised $1 million in a round led by YourNest Venture Capital and Artha Venture Fund. Existing institutional investors in the company include 100X.VC. Aliste, which has built a strong presence in the NCR and has now expanded to Bangalore, is seeing phenomenal growth owing to its subscription-based model for its customers.
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, “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.”
High capex is one of the biggest reasons why smart home adoption in India remains one of the lowest in the world. With sub-1% adoption of smart homes in India, Aliste Technologies is addressing an enormous market opportunity while making home automation affordable and accessible. At a subscription cost of just `1 per appliance per day, a typical 3 BHK can now get automated at just ~` 500 per month, compared to a conventional automation route requiring homeowners to shell out upwards of ` 1 lakh in a single go.
Aliste Technologies has a strong presence in the Delhi-NCR region and has recently entered the Bangalore market. With the freshly infused capital, the company intends to spread its footprints pan-India and boost brand awareness initiatives.
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