AngelList backs clean air start up – Clairco
Clairco - clean air-as-a-service Company which offers air quality monitoring & purification services, raised its first round of funding from AngelList. The funding round was led by Prakhar Agarwal – head of investments, AngelList India. Part of 3rd cohort of real estate accelerator - Brigade Reap, Clairco is an IoT based air quality monitoring and purification company that uses low drag air filters which can be retrofitted to any type of air conditioning and turn them into air purifiers. This helps save a lot of money by not spending on expensive hardware. Clairco has developed this patent-pending air purification system to help address the issue of indoor pollution. With Clairco closing its first round of funding, the company plans to use the freshly raised capital to expand Clairco's footprint to key cities across the country and strengthen its core-technology team. Incubated in early 2018, Clairco's air monitoring and purification services are currently being implemented in the premises of India’s biggest health/fitness and home rental brands. The company is also executing paid pilots for schools, office spaces, tech parks, and hotels both luxury and budget. Speaking on leading the funding for Clairco, Prakhar Agarwal – head of investments, AngelList India said “The magnitude of the pollution problem in majority of the Indian cities and the total inaction in dealing with it has been bothersome. For the past couple of months, I was actively scouting for start-ups that are innovating in this space and have a scalable solution beyond just pollution monitoring and analytics. Clairco’s patent pending technology provides a full stack solution to tackle this issue. Given the marquee clients they are working and conducting pilots with, reaffirms my belief of backing the right company”. Aayush Jha, founder Clairco quoted “The backing of AngelList adds immense value to Clairco that goes just beyond capital. We will also be banking on their rich experience and network to expand to new cities and work at strengthening our core-technology team”. With 14 out of 20 most polluted cities in the world in India, and the cost of asthma medication reaching a record 55,000 crores per year, the indoor air quality monitoring market is estimated to reach 33,000 crores ($4.63 billion) by 2022. Working on the concept of predictive intelligence on the connected devices, Clairco analyses air quality data of a particular premise on a real-time basis and installs ultra-low resistance air filter in existing air conditioning units and converts them into smart air purification system. Clairco charges its customers a monthly subscription fee for businesses of all sizes and scale. This helps businesses ensure a better experience without investing considerable capital expenditure. Our technology enables us to be the only company in India that can guarantee clean air for indoor spaces."
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