Coming next: Air as a Service
How Estonian tech OG Ivo Remmelg is retrofitting the future of HVAC
RIGA - In the startup world, the most enduring founders often build solutions for problems that have quietly annoyed them for decades. For Ivo Remmelg, that “annoying problem” was literally the air he was breathing.
The story began nearly 20 years ago. After moving into a newly renovated office in Tallinn, Remmelg noticed the air felt heavy and stale despite the modern ventilation system humming in the background. The system was “static” — it blew air at a fixed interval, regardless of whether the room was packed with people or completely empty. He figured out how to build a solution, but never really got to it.
Fast forward to a chance meeting at the Tartu Science Park incubator, where Remmelg found a team of engineers obsessed with the same inefficiency. Together, they launched Aerefy.
The pivot to “Air as a Service”
Aerefy’s core tech is a smart, cloud-connected valve that can be retrofitted into existing building ducts in under five minutes. It uses edge intelligence to monitor CO2 and pollutants, opening only when the air actually needs refreshing.
But the real disruption isn’t just the hardware; it’s the business model. Remmelg is moving the company away from traditional sales toward Hardware-as-a-Service (HaaS). As he put it in an interview on the sidelines of TechChill:
“In today’s world, all things in the world are demand-based—you turn the tap on, water comes; you turn it off, it doesn’t come anymore. But ventilation is static, and we make it demand-based.”
By treating air like a utility, Aerefy removes the massive upfront investment (Capex) that usually kills green-tech adoption in the hospitality sector.
“We have sold them until now, but we are going to the market through a Hardware-as-a-Service model, where we put the devices up for free... and the hotel starts saving from the first month.”
The context: A serial founder enters a crowded ring
Who is Ivo Remmelg?
Remmelg isn’t a rookie founder; he is a true OG of the Estonian tech ecosystem.
The Exits: He was the longtime CEO of Telegrupp and a major force behind Ridango, leading saw both through significant exits.
The Angel: As President Emeritus of EstBAN (Estonian Business Angel Network) and a partner at Superhero Capital, he has invested in over 40 startups.
The Mentor: He is a foundational figure at ESA BIC and Tehnopol, helping the next generation of Baltic founders scale.
The market: David vs. the HVAC Goliaths
Aerefy has entered the Indoor Air Quality (IAQ) and Smart Ventilation market—a sector expected to be worth $12 billion by 2026.
The dominant players: The space is traditionally ruled by massive industrial conglomerates like Honeywell, Johnson Controls, and Daikin. These giants focus almost exclusively on multimillion-dollar installations for new construction.
The Aerefy edge: Most existing buildings (the “brownfield” market) are stuck with “dumb” ventilation. While the giants try to sell entire new systems, Aerefy sells a smart “brain” for the system the hotel already owns.
By combining Remmelg’s deep scaling experience with a HaaS model that delivers immediate ROI, Aerefy is positioning itself as a lean disruptor in a market of heavyweights.