Ashish Goel’s Optimist raises $12M in seed funding led by Accel, Arkam Ventures

The newly-raised capital will be used to scale manufacturing, research and development, and go-to-market operations, the company said. 

Optimist was founded in 2024 by Ashish Goel, ex-CEO and Co-founder of Urban Ladder, and Pranav Chopra. The company is developing cooling systems for India’s extreme heat and energy-constrained market. 

Through R&D efforts, the company has been able to develop a cooling solution that will reduce electricity bills and ease pressure on electricity grids. According to the company’s website, Optimist’s cooling solutions consume 70% less energy than conventional air conditioners. 

@media (max-width: 769px) {
.thumbnailWrapper{
width:6.62rem !important;
}
.alsoReadTitleImage{
min-width: 81px !important;
min-height: 81px !important;
}

.alsoReadMainTitleText{
font-size: 14px !important;
line-height: 20px !important;
}

.alsoReadHeadText{
font-size: 24px !important;
line-height: 20px !important;
}
}

Also Read

GreenCell Mobility raises $89M to expand its electric bus fleet

The company is planning to deliver its products to households by February 26 in Delhi NCR, Rajasthan, Telangana, and Bengaluru. It is looking to sell its products through a mix of direct-to-consumer channels and exclusive brand stores, targeting residential and small commercial customers initially. 

“We want India to be better prepared for heat going up and we want to reduce the energy cost of that cooldown, which obviously has many implications. It has implications in customer affordability. It has implications on our national energy management problem. It has huge implications, of course, on climate emissions. And what we want to do is change the life of our customers for the better,” Goel told YourStory.

Optimist has set up a final assembly facility with a partner with third-party manufacturers providing the company with certain parts. This facility can be scaled up to 150,000 to 200,000 units, Goel noted. 

The company had previously raised a seed round of $1.97 million from Accel and Blume Ventures, among others in September 24, 2024, according to data from Tracxn.