Exclusive: AC Maker Optimist In Talks To Raise $10 Mn From TDK Ventures

Delhi NCR-based cooling solutions startup Optimist is in talks to raise about $10 Mn in a fresh funding round from TDK Ventures, sources told Inc42. 

TDK Ventures, the corporate venture capital arm of Japan’s TDK Corporation, will be a new addition to the startup’s cap table. The discussions are ongoing and the final cheque size could change before the round is closed, the sources added. 

However, Inc42 could not ascertain if the proposed investment is part of an extension of the startup’s previously announced $12 Mn seed and pre-Series A round or a separate funding round. The earlier round was led by Accel and Arkam Ventures, with participation from angel investors. 

Responding to Inc42’s queries, an Optimist spokesperson said, “At this point of time, we cannot vouch for the veracity of the mail shared with Optimist.” Questions sent to TDK Ventures didn’t elicit any response till the time of publication. 

Founded in 2024 by former Urban Ladder cofounder Ashish Goel and Pranav Chopra, Optimist builds air conditioners designed specifically for Indian conditions, where high temperatures, humidity, and electricity costs make cooling both essential and expensive. 

Speaking to Inc42 earlier this year, Goel said the startup was founded to address India’s low air-conditioner penetration. While India has more than 300 Mn households, only about 27-28 Mn own an AC even though nearly 90% of households live in regions with high heat exposure. 

“As a business, it’s a large opportunity. As a consumer-focused technologist, it’s a problem that clearly needs solving,” he said. 

Optimist operates an in-house R&D facility in Gurugram, where it has spent months researching thermodynamics, heat transfer, humidity control, and airflow optimisation to develop its products.

The startup launched its products around two months ago through its own website and Amazon, with an initial presence across Delhi NCR, Rajasthan and western Uttar Pradesh. It is also expanding its offline retail footprint.

The development comes as investor interest in India’s home appliance ecosystem continues to grow. Earlier this year, another new age AC startup Helium Air raised $2 Mn in a seed round from India Quotient. 

More broadly, a clutch of D2C appliance startups are betting on energy efficiency, smart connectivity, aesthetics and compact form factors to differentiate themselves in an increasingly competitive market. 

IPO-bound Atomberg, for instance, has expanded beyond its smart ceiling fans into categories such as water purifiers, mixer grinders and other kitchen appliances. Earlier this year, it also entered the B2B manufacturing segment. 

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