SustLabs, an AI-driven energy efficiency company based in Mumbai, secured $1.2 million in Pre-Series A funding led by Peak Sustainability Ventures to optimize residential energy consumption and enhance fire safety features.

Target Company Overview

Sustainable Reference Analytics Pvt Ltd, commonly known as SustLabs, is a Mumbai-based company specializing in energy efficiency. Founded by Kaushik Bose and Soumya Bhattacharya, the company leverages advanced artificial intelligence (AI) technologies to optimize energy consumption behavior in both residential and industrial buildings. Its flagship product, the Ohm Assistant, is an innovative AI-enabled smart electricity meter that provides real-time insights into appliance-level energy consumption and predictive alerts for potential fire hazards. This product does not require additional sensors, as it uses AI to analyze energy frequencies from appliances, making it a noteworthy advancement in energy management.

The Ohm Assistant has demonstrated significant impact, with users reporting up to 17.5% savings on their electricity bills. It also facilitates the identification of faulty appliances and tracks users' carbon footprints, enabling households to adopt more sustainable practices. With deployments in over 100 cities across India, SustLabs has established partnerships with notable building developers such as Lodha, Rustomjee, and Piramal, along with major original equipment manufacturers (OEMs) like Schneider Electric and Panasonic.

Industry Overview in India

India’s energy sector is experiencing unprecedented demand due to rapid urbanization and economic growth. As the population continues to rise, so does the associated electricity demand, making the need for efficient energy consumption more