Kaer
Kaer is a Singapore-based Cooling as a Service (CaaS) provider that designs, installs, finances and operates cooling infrastructure for commercial and industrial buildings across Asia, charging customers a fixed pay-as-you-use $/RTH rate and serving offices, malls, hotels, data centres and manufacturing facilities.
- Company typePrivate
- Founded1993
- HeadquartersMumbai, India
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Kaer does
Kaer Pte. Ltd. is a Singapore-incorporated Cooling as a Service (CaaS) provider that designs, installs, finances, owns, monitors and operates cooling infrastructure inside commercial and industrial buildings across Asia. Founded in 1993 and operating from offices in Singapore, Malaysia, India and Indonesia, Kaer serves building owners and operators across offices, shopping malls, hotels, data centres, pharmaceutical plants, education campuses and manufacturing facilities. Its customers include 7000 AMK, INSEAD, 1 Elpro Business Park, Paya Lebar Quarter and Parklane.
Kaer's product line spans two core offerings under a single servitisation model. Kaer Water covers outsourced chilled water production, while Kaer Air extends the model to full air-side cooling delivery; in both cases Kaer assumes full financial and operational responsibility and customers pay a fixed rate per refrigeration ton hour on a pay-as-you-use basis, eliminating upfront capex. The portfolio is managed through Kaer Connect, a proprietary customer experience application that exposes real-time chilled water and comfort conditions, minute-by-minute trending, billing and ESG reporting, and which integrates with leading third-party data management, visualisation and ERP systems via open-protocol controls. Kaer's technology stack includes proprietary in-house AI-driven optimisation software and a carbon emissions tracker, both of which operate across an installed base of over US$250 million of cooling assets covering more than 25 million square feet.
Kaer generates revenue on a usage-based model priced in $/RTH and pursues an enterprise sales-led GTM motion targeting building owners and operators that want to decarbonise real estate portfolios without capex investment. Growth is supported by an investment commitment of up to US$350 million from PATRIZIA and Mitsui & Co. through the Asia Pacific Sustainable Infrastructure Fund (announced April 2025), with stated targets of 30% growth in 2024, 50% growth in 2025, and delivery of low-carbon cooling to 100 million square feet of real estate by 2028. Expansion into Thailand and Vietnam is explicitly planned alongside scaling of the existing Singapore, Malaysia, India and Indonesia operations.
Kaer firmographics
Firmographics- Name
- Kaer
- Legal name
- Kaer Pte. Ltd.
- Website
- https://kaer.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Kaer is a Singapore-based Cooling as a Service (CaaS) provider that designs, installs, finances and operates cooling infrastructure for commercial and industrial buildings across Asia, charging customers a fixed pay-as-you-use $/RTH rate and serving offices, malls, hotels, data centres and manufacturing facilities.
- Ownership category
- akta.pro rank
Kaer industry classification
Industry- Product category
- Cooling-as-a-Service / HVAC Services
- NAICS
- Steam and Air-Conditioning Supply (22133), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Auto Controls For Regulating Residential & Comml Environments (3822)
- akta.pro primary industry
- Chillers & Cooling Plant Equipment (IMAHAKAE)
- akta.pro secondary industry
- Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD)
Keywords
Where Kaer is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices4 records
Markets served
Kaer business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Operations, Personnel, Marketing or Sales
Revenue model
- Cooling as a Service (Kaer Water): Outsourcing of chilled water production. Kaer designs, installs, pays for, owns, monitors and operates chilled water systems within buildings. Customers pay at fixed $/RTH rate on pay-as-you-use basis. Kaer assumes all financial and operational responsibility.
- Cooling as a Service (Kaer Air): Full cooling outsourcing including air-side equipment. Customers dictate desired conditions (temperature, humidity, etc.) and Kaer delivers at fixed $/RTH rate on pay-as-you-use basis. Includes all design, installation, ownership, monitoring and operations.
- Renewable Energy Cooling: Cooling powered by renewable energy, including 100% solar-powered cooling for select assets in portfolio
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Pay-as-you-use cooling at fixed $/RTH rate |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Kaer product offering
Product offeringCore offering
Kaer provides Cooling as a Service (CaaS) for commercial and industrial buildings across Asia. The company designs, installs, finances, owns, monitors and operates chilled water and air-side cooling systems within customer buildings. Customers purchase cooling output at a fixed rate per refrigeration ton hour on a pay-as-you-use basis, eliminating capital expenditure and operational risk. The portfolio is managed through the proprietary Kaer Connect platform, which provides real-time monitoring, billing, and ESG reporting.
Product overview
Kaer operates as a Cooling-as-a-Service (CaaS) provider offering two interconnected product lines: Kaer Water (outsourced chilled water production) and Kaer Air (full cooling solution including air-side equipment), both delivered under a servitisation model where customers pay per unit of cooling without capital expenditure. The portfolio is managed through Kaer Connect, the company's proprietary customer experience platform that provides real-time monitoring, billing, and ESG reporting. The company serves commercial and industrial buildings across Asia including offices, shopping malls, hotels, data centres, pharmaceutical production plants, education campuses, and manufacturing facilities.
Differentiator
Problem solved
Functional benefit
Brands
- Kaer Water: Outsourcing of chilled water production - customers dictate chilled water temperature while Kaer designs, installs, pays for, owns, monitors and operates the chilled water system within the building. Customers pay at a fixed $/RTH rate on a pay-as-you-use basis.
- Kaer Air
- Kaer Connect
Products and services
- Kaer Water Outsourced chilled water production service for commercial and industrial buildings. Kaer designs, installs, finances, owns, monitors and operates the chiller plant inside the customer building. Customers pay a fixed $/RTH rate on a pay-as-you-use basis.
- Kaer Air Full Cooling as a Service offering that combines chilled water production with air-side equipment delivery. Customers dictate desired space conditions (temperature, humidity, etc.) and Kaer delivers and operates the complete cooling solution at a fixed $/RTH rate on a pay-as-you-use basis.
- Kaer Connect Customer experience application for CaaS customers that delivers real-time monitoring of chilled water and comfort conditions, minute-by-minute trending data, billing details, ESG reporting, and minute-by-minute carbon emissions tracking.
Quantifiable outcome
- Over 35,000 metric tons of CO2 saved annually
- +3 more outcomes
Companies that use Kaer
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles1 record
Kaer technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
Kaer partnerships and signals
Strategic signalScale indicators9 records
Recent moves6 records
Expansion highlights6 records
Kaer competitors and assessment
Company assessmentBroad incumbents
- Carrier Global Corporation: Major HVAC and refrigeration equipment manufacturer expanding into service and performance contracting. Has the technical and financial capacity to enter the CaaS space in Asia, posing a competitive threat to Kaer's first-mover position.
- Trane Technologies: Global HVAC and building services manufacturer and service provider. While primarily equipment-focused, Trane's service and contracting arm overlaps with Kaer's outsourced cooling value proposition, especially for data center and commercial customers.
- Veolia (Veolia Energy & Cooling): Global environmental services and district energy/cooling operator with extensive cooling networks in Central and Eastern Europe and Asia. A broad incumbent in outsourced thermal services that could compete with Kaer on large commercial contracts.
- Johnson Controls: Global building technology and HVAC manufacturer with extensive services and controls business. Comparable to Kaer in serving commercial buildings with cooling and building automation, though primarily an equipment/controls incumbent rather than a CaaS pure-play.
Emerging players
- Munters: Specialist in energy-efficient cooling, humidification, and data center cooling solutions. Overlapping with Kaer's data center and commercial cooling segments with a focus on mission-critical cooling applications across Asia.
Direct peers
- Enwave Energy Corporation: Canadian district cooling provider serving downtown Toronto via deep lake water cooling. Comparable CaaS-style outsourced cooling with long-duration contracts to commercial and institutional buildings.
- Tabreed (National Central Cooling Company): UAE-listed district cooling leader supplying chilled water to commercial, residential, and institutional buildings. Most direct global analogue to Kaer's CaaS model in terms of utility-style outsourced cooling, multi-country footprint, and fixed per-tonne pricing.
- Emicool: Dubai-based district cooling company serving commercial, residential, and industrial customers. Closely comparable to Kaer's chilled-water outsourcing model with pay-per-use billing and long-term customer contracts.
- ENGIE (incl. ENGIE Refrigeration / Cofely): Global energy and cooling services operator with deep district cooling and building HVAC service operations across Europe, Asia, and the Middle East. Direct competitor in the outsourced cooling services space and a potential entrant into Asian CaaS.
Regional players
- Singapore District Cooling (SDC): Operates district cooling systems in Singapore serving Marina Bay and other commercial districts. Most direct local competitor in Kaer's home market with the same chilled water outsourcing model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Kaer social profiles
Digital presenceKaer compliance and trust
Trust signalCompliance1 record
Kaer financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kaer leadership team
Management profileNumber of profiles
Kaer funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kaer M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kaer
What does Kaer do?
Kaer provides Cooling as a Service (CaaS) for commercial and industrial buildings across Asia. The company designs, installs, finances, owns, monitors and operates chilled water and air-side cooling systems within customer buildings. Customers purchase cooling output at a fixed rate per refrigeration ton hour on a pay-as-you-use basis, eliminating capital expenditure and operational risk. The portfolio is managed through the proprietary Kaer Connect platform, which provides real-time monitoring, billing, and ESG reporting.
Is Kaer a public or private company?
Kaer is a private company. It is classified as venture growth investor backed and is currently operating.
When was Kaer founded?
Kaer was founded in 1993. It employs 101 to 250 people.
Where is Kaer based?
Kaer is headquartered in Mumbai, India, in the Asia region.
How does Kaer make money?
Three revenue lines are on record. Cooling as a Service (Kaer Water) is the primary driver. The others are cooling as a Service (Kaer Air) and renewable Energy Cooling.
Who are Kaer's main competitors?
Broad incumbents on record are Carrier Global Corporation, Trane Technologies, Veolia (Veolia Energy & Cooling) and Johnson Controls. Munters is listed as an emerging player. Direct peers are Enwave Energy Corporation, Tabreed (National Central Cooling Company), Emicool and ENGIE (incl. ENGIE Refrigeration / Cofely). Singapore District Cooling (SDC) is listed as a regional player.
Does Kaer have an API?
No public API is recorded for Kaer.
What industry is Kaer in?
Kaer's product category is Cooling-as-a-Service / HVAC Services. Its primary akta.pro industry code is IMAHAKAE, Chillers & Cooling Plant Equipment, with a secondary code of HDABAKAD, Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling). Its NAICS code is 22133 and its SIC code is 3585.