Waaree Renewable Technologies Limited, one of India’s leading and rapidly expanding solar EPC and renewable energy solutions providers, has announced a strategic investment in Smart Joules Pvt. Ltd. (SJPL), India’s largest and fastest-growing Cooling-as-a-Service (CaaS) and energy efficiency company. This investment reflects more than just a business collaboration between Waaree and Smart Joules. It highlights Waaree Group’s growing role as an active investor in the energy transition and the broader climate technology ecosystem.
Mr. Viren Doshi, Executive Director, Waaree Renewable Technologies Limited, said in a statement, “Our investment in Smart Joules reflects Waaree’s commitment to building a broader Energy Transition platform. We see energy efficiency and Cooling-as-a-Service as pivotal to shaping a sustainable future and a fast-emerging global model, especially in markets like India, Southeast Asia, and MENA. This investment underscores our focus on backing innovative Climate Tech companies with not just capital, but also strategic partnerships and long-term support—guided by a founder-first approach to help visionary teams scale transformative businesses.”
Mr. Rajesh Sharma – Head Investments and Growth at Waaree Group, mentioned, “Our investment in Smart Joules is a milestone in Waaree Group’s journey to back disruptive, category-defining businesses. At Waaree, we don’t just provide capital—we bring partnerships, global networks, and long-term commitment. We aim to be the first call for ambitious founders looking to scale transformative solutions.”
He also added, “We believe that Cooling-as-a-Service (CaaS) is emerging as a major global business model, driven by rising demand for cooling, climate change, and the shift to pay-per-use efficiency models. India, Southeast Asia, MENA, and parts of Africa & Latin America represent the largest future markets, while the US/EU remain niche but premium segments. We are confident Smart Joules is well-positioned to capture a significant share of this opportunity.”
He concluded, “Our conviction extends well beyond Climate Tech. We actively explore opportunities across SaaS, Deep Tech, AI, Fintech, Electronics & Manufacturing, Logistics & Transportation, Data Centers & Cloud Infrastructure, and Consumer Tech. If you are building a company that solves meaningful problems with bold innovation, we want to hear from you. Our mission is to co-create transformative businesses and scale them globally.”
Mr. Arjun P. Gupta, Founder & CEO, Smart Joules Pvt. Ltd, stated, “We are excited to welcome Waaree Renewable Technologies as both an investor and strategic partner. Waaree’s leadership in renewable energy and its global network will significantly accelerate our growth journey. Together, we aim to expand Cooling-as-a-Service and AI-driven efficiency solutions to a wider customer base, ensuring industries, hospitals, and businesses can access sustainable cooling without upfront costs.”
By partnering with innovative companies like SJPL, Waaree aims to support visionary founders who are addressing critical challenges across multiple sectors and advancing sustainable solutions. Through this strategic move, Waaree Renewable Technologies strengthens its commitment to driving decarbonization, promoting energy efficiency, and accelerating the adoption of clean technologies across India’s industrial and commercial landscape.
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