Aliste Technologies is a smart home automation startup. It has been able to secure around $1 million in funding from YourNest Venture Capital, Dholakia Ventures, Anikarth Ventures, Artha Venture Fund, and many others.
About Aliste Tech
Aliste Technologies was founded in 2021. The company, Aliste Tech is deciding to expand across the country. Plus, it wants to improve brand awareness after establishing itself in Delhi, the NCR, and even Bangalore.
The startup was founded by Aakarsh Nayyar, Bhavya Kansal, Konark Gautum, and Shreyansh, along with Anant Ohri and Udit Pandoh. The company offers retrofit automation products. It allows users to control already existing appliances through an app and voice assistants. The company has a subscription model that starts at Rs. 1 per appliance for every day.
According to Sunil K. Goyal, the managing director and fund manager of the company YourNest Venture Capital, ‘Aliste’s innovative low-capex along with subscription model makes everything unique. It allows the capability to grow at a rapid pace while targeting young people in the expanding high-income as well as middle-income demographics across the country. The founding team has been working on this particular problem for 3 years, and this is the final year of their college. So, the motivation and energy levels are high to have global organization.’
Aliste Technologies has an amazing portfolio with more than 2500 residential, commercial, along hospitality projects. It serves clients like the Taj group of hotels, Stanza Living, etc.
Other information about Aliste Tech and the funding
According to Anirudh A. Damani, who is the managing partner at Artha Venture Fund, ‘We see extraordinary growth in the automation market from various angles. In the last 5-8 years, Indian consumers have gotten used to subscription-based services. Aliste has been able to touch the changing behavior of consumers while keeping everything affordable.’
Also, as per A. Damani, ‘Even on the B2B side, many Indians resume travel; they are going to expect top-notch experience from the hospitality sector. Plus, the hotel chains are very well aware of the changing patterns. The increased demand for automation in residential and B2B channels and the approach of Aliste to leverage the opportunity with the help of a subscription-based model. This allowed us to invest in this company.’
The level of capital expenditure is necessary. This is the main reason the smart home adoption in India is considered to be the lowest across the globe.
