H & M Technology Ventures
H & M Technology Ventures is an Indian manufacturer and distributor of energy-recovery and low-energy air-conditioning products — heat exchangers, VAV/CAV terminals, and airflow measurement stations — serving OEMs, contractors, consultants, and facility operators across pharmaceutical, healthcare, government, education, and commercial sectors in India.
- Company typePrivate
- Founded2019
- HeadquartersThane, India
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What H & M Technology Ventures does
H & M Technology Ventures LLP is an Indian energy-recovery and low-energy air-conditioning product company founded in 2019 by HVAC&R industry veterans H P Dudani and Manoj Khati, who together hold over six decades of cross-functional domain experience. The firm manufactures and distributes a portfolio that spans three brand umbrellas: H&M (its own line of heat-pipe heat exchangers in horizontal, vertical, and wrap-around variants), HeatEX (cross-flow plate, counter-flow plate, and rotary air-to-air heat exchangers, part of Madison Industries), and Barcol-Air (VAV/CAV terminals with patented multi-point sensing, air-flow measurement stations, chilled-beam and chilled-ceiling systems, and diffusers). Core technology rests on passive phase-change heat transfer, rotary and plate recuperation, the proprietary AquaSeal polymer-fill process for water/air tightness, molecular-sieve coatings for humidity transfer, and a double-rotor configuration delivering up to 90% humidity efficiency; Barcol-Air VAV terminals achieve 2.5% operational accuracy and integrate via BACnet MS/TP and Modbus into Building Management Systems.
The company's commercial model is direct enterprise sales of hardware (HVAC equipment and components) plus customization and engineering services, sold against quote-based, multi-year B2B contracts. It engages OEMs that build Air Handling Units, mechanical contractors, MEP consultants, and institutional facility operators across pharmaceutical manufacturing, hospitals and laboratories, government and education facilities, commercial real estate, industrial process cooling, and data centres in India. The firm is structured as a privately held LLP, holds ISO 9001, and inherits Eurovent, AHRI, and TÜV SÜD certifications through its global technology partners; it has no external institutional shareholders, and operations are concentrated at a single headquarters in Thane, Maharashtra.
H & M Technology Ventures firmographics
Firmographics- Name
- H & M Technology Ventures
- Legal name
- H & M Technology Ventures LLP
- Website
- https://hmtechnologyventures.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- H & M Technology Ventures is an Indian manufacturer and distributor of energy-recovery and low-energy air-conditioning products — heat exchangers, VAV/CAV terminals, and airflow measurement stations — serving OEMs, contractors, consultants, and facility operators across pharmaceutical, healthcare, government, education, and commercial sectors in India.
- Ownership category
- akta.pro rank
H & M Technology Ventures industry classification
Industry- Product category
- HVAC Equipment Manufacturing
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433), Steam & Air-Conditioning Supply (4961)
- akta.pro primary industry
- Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)
- akta.pro secondary industries
- Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF), HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB), Heat Transfer Fluids (IMAEAMAG)
Keywords
Where H & M Technology Ventures is headquartered
LocationHeadquarters
- HQ city
- Thane
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
H & M Technology Ventures business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D
Revenue model
- HVAC Equipment Sales: Sale of energy recovery and low energy air conditioning products including heat exchangers, VAV/CAV terminal units, and air flow measurement stations. Products are sold directly to OEM manufacturers, contractors, consultants, and facility operators in India.
- Customization and Engineering Services: Customization services for sizes, material specifications, and configurations to meet specific customer requirements. Shorter delivery periods and local after-sales support provided to Indian customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | B2B custom quotation-based pricing |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
H & M Technology Ventures product offering
Product offeringCore offering
H & M Technology Ventures LLP manufactures and supplies energy recovery and low energy air conditioning products for HVAC&R applications. The company offers heat pipe heat exchangers (wrap-around, vertical, horizontal), cross-flow and counter-flow plate type air-to-air heat exchangers, rotary heat exchangers, variable and constant air volume (VAV/CAV) terminal units, and air flow measurement stations. Products are sold under three brands — H&M (own manufactured), Barcol-Air, and HeatEX — targeting OEM manufacturers, contractors, consultants, and facility operators across India.
Product overview
H&M Technology Ventures is an Energy Recovery & Low Energy Air Conditioning Product Company offering a comprehensive portfolio of HVAC&R products. The portfolio is organized around three main brands: HEATEX (specializing in air-to-air heat exchangers including plate type and rotary type), BARCOL-AIR (providing VAV/CAV terminal units, air flow measurement stations, chilled beams, chilled ceilings, and diffusers), and H&M (manufacturing heat pipe heat exchangers including horizontal, vertical, and wrap-around configurations). These products work together within HVAC systems for energy recovery and precise air volume control in commercial, residential, industrial, and specialized applications such as clean rooms, data centers, and pharmaceutical facilities.
Differentiator
Problem solved
Functional benefit
Brands
- HEATEX: Air-to-air heat transfer specialist offering custom-made plate and rotary heat exchangers for HVAC systems, part of Madison Air/Madison Industries.
- BARCOL-AIR
- H&M
Products and services
- H&M Heat Pipe Heat Exchanger Passive heat-transfer device that uses phase transition (evaporation and condensation) within closed-loop evacuated tubes to recover energy between two air streams without cross contamination and without requiring external pumping force. Suitable for OEM AHU manufacturers and industrial HVAC applications.
- HEATEX Plate Type Air to Air Heat Exchanger Cross flow and counter flow plate type heat exchangers for air-to-air heat transfer in HVAC systems, custom-made to match customer technical specifications. Distributed under the HEATEX brand for AHU manufacturers and industrial applications.
- HEATEX Rotary Type Air to Air Heat Exchanger Rotary heat exchangers using rotating matrix technology for high sensible and latent heat recovery with low freezing risk. Distributed under the HEATEX brand for HVAC energy recovery applications.
- BARCOL-AIR Variable Air Volume Terminal Unit VAV terminals equipped with Barcol-Air's patented sensing technology (2 x 12 sensing points with signal averaging) delivering 2.5% measurement accuracy for precise air volume control. Features factory-installed and calibrated digital actuator and controller with BACnet MS/TP integration for variable air volume HVAC systems.
- BARCOL-AIR Constant Air Volume Terminal Unit Mechanical self-regulating control damper terminals designed to maintain constant air flow independent of inlet static pressure for HVAC air distribution systems.
- BARCOL-AIR Air Flow Measurement Station Station designed for accurate airflow measurement in air duct systems, equipped with a pressure transducer and suitable for integration with Building Management Systems for energy management, balancing supply and return air volumes, and monitoring minimum fresh air volumes.
Quantifiable outcome
- VAV Systems save 30% to 70% of fan Motor Energy
- +3 more outcomes
Companies that use H & M Technology Ventures
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
H & M Technology Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
H & M Technology Ventures partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Barcol-AircoreH&M Technology Ventures distributes Barcol-Air products in India. Barcol-Air was established in 1982 as a European subsidiary of Barber Colman USA, which originally dates back to 1932 when Barber Colman Company started developing central air conditioning air distribution products. Barcol-Air offers VAV systems, CAV systems, air flow measurement stations, chilled beam systems, chilled ceiling systems, and diffusers.
- HeatEX (Madison Air / Madison Industries)coreH&M Technology Ventures serves as the India representative and distributor for HeatEX products. HeatEX is a cleantech company specializing in air-to-air heat exchangers, optimizing and developing energy-saving thermodynamic products. HeatEX is part of Madison Air, which belongs to Madison Industries, one of the world's largest privately held companies. HeatEX has over 50 years of experience and is recognized as market and technology leader in air-to-air heat transfer.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
H & M Technology Ventures competitors and assessment
Company assessmentBroad incumbents
- Systemair: European HVAC manufacturer with broad air-handling, ventilation and heat-recovery product lines sold globally including India. Directly comparable in rotary and plate heat exchangers and air-distribution terminals, with deeper product breadth and own manufacturing.
- Carrier Global: Major HVAC manufacturer with broad product coverage including air-handling, energy recovery and refrigeration. Overlaps with H&M in commercial buildings, healthcare and pharma segments where Carrier offers integrated solutions.
- Swegon: European supplier of indoor climate systems including energy-recovery ventilation, chilled beams and VAV/CAV terminals. Closely overlaps Barcol-Air's air-distribution portfolio that H&M distributes in India.
- Greenheck: Large US-based manufacturer of air-handling, energy-recovery and air-distribution products. Comparable to H&M in ERVs/HRVs and air terminal devices, but serves a much larger commercial/institutional customer base.
- Trane Technologies: Global HVAC OEM with a strong India presence across chillers, air-handling units and packaged rooftop equipment. Comparable as a competitor for the same institutional, healthcare and data-centre projects that H&M targets with energy-recovery and VAV components.
- FläktGroup: Global manufacturer of air-handling units, fans and heat-recovery solutions with a presence in India. Comparable to H&M in heat exchangers and air-distribution products, but operates at much greater scale and offers fully integrated AHU systems rather than components only.
Direct peers
- Aldes: European specialist in indoor air quality, ventilation and heat recovery with VAV/CAV terminals and air-distribution products. Comparable in technology scope to HeatEX/Barcol-Air lines that H&M carries in India.
- Bry-Air (Asia): India-based desiccant and energy-recovery specialist serving HVAC, pharmaceutical and industrial dehumidification customers. Comparable to H&M as a domestic manufacturer/distributor of air-side heat- and moisture-transfer equipment focused on pharma and process industries.
- Hoval: European HVAC manufacturer known for high-efficiency heat exchangers, heat-recovery ventilation and indoor climate solutions. Comparable to H&M in plate and rotary heat-exchanger technology serving institutional and commercial buildings.
Regional players
- Refcon India: India-focused HVAC and heat-recovery equipment provider serving similar commercial and institutional segments. Comparable as a domestic peer competing for the same OEM and consultant accounts in India's energy-recovery market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
H & M Technology Ventures social profiles
Digital presenceH & M Technology Ventures compliance and trust
Trust signalCompliance2 records
H & M Technology Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
H & M Technology Ventures leadership team
Management profileNumber of profiles
Profiles2 records
H & M Technology Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
H & M Technology Ventures 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 H & M Technology Ventures
What does H & M Technology Ventures do?
H & M Technology Ventures LLP manufactures and supplies energy recovery and low energy air conditioning products for HVAC&R applications. The company offers heat pipe heat exchangers (wrap-around, vertical, horizontal), cross-flow and counter-flow plate type air-to-air heat exchangers, rotary heat exchangers, variable and constant air volume (VAV/CAV) terminal units, and air flow measurement stations. Products are sold under three brands — H&M (own manufactured), Barcol-Air, and HeatEX — targeting OEM manufacturers, contractors, consultants, and facility operators across India.
Is H & M Technology Ventures a public or private company?
H & M Technology Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was H & M Technology Ventures founded?
H & M Technology Ventures was founded in 2019. It employs 11 to 50 people.
Where is H & M Technology Ventures based?
H & M Technology Ventures is headquartered in Thane, India, in the Asia region.
How does H & M Technology Ventures make money?
Two revenue lines are on record. HVAC Equipment Sales are the primary driver. The others are customization and Engineering Services.
Who are H & M Technology Ventures's main competitors?
Broad incumbents on record are Systemair, Carrier Global, Swegon, Greenheck, Trane Technologies and FläktGroup. Direct peers are Aldes, Bry-Air (Asia) and Hoval. Refcon India is listed as a regional player.
Does H & M Technology Ventures have an API?
No public API is recorded for H & M Technology Ventures.
What industry is H & M Technology Ventures in?
H & M Technology Ventures's product category is HVAC Equipment Manufacturing. Its primary akta.pro industry code is IMAHAKAC, Heat Exchangers & Thermal Transfer Equipment, with a secondary code of IMADANAF, Heat Exchangers, Coils & Hydronic HVAC Components. Its NAICS code is 333415 and its SIC code is 3585.