Aerem Raises $2.5 Million In Pre-Series A Funding
The fund raised will be used for growing loan book, building out tech platform and to hire teams in technology, product, finance and operations
Aerem, a solar financing platform, has raised $2.5 million in pre-Series A funding round led by Blume Ventures. The capital raised will be used for growing the loan book, building out the tech platform that would enable end-to-end digital and seamless interaction with various stakeholders and to hire teams including leadership in technology, product, finance and operations.
"Aerem is on a mission to democratize the adoption of rooftop solar and build a better, greener and sustainable future. Our innovative solar tech platform ensures quality rooftop solar systems, which combined with financing from our in-house NBFC or partner banks enable significant reduction in power bills of MSMEs. We offer a fully digitalized, hassle free and seamless experience to MSMEs," said Anand Jain, founder, Aerem.
Aerem plugs a glaring product gap that is preventing mass adoption of solar rooftops and works with solar installers and EPC companies by helping finance their solar customers leading to increase in their business and employment potential. The company is targeting 20 million industrial MSMEs in India and the market potential is over $200 billion just in the MSME space, claimed by the company in a statement.
"We are impressed with Aerem's vision and approach that includes credit. Their full-stack solution provides end-to-end engagement and is ahead of the market by 1 to 2 years. Solar is in a sweet spot where macro and micro factors are incredibly aligned. India has targeted 280 GW of solar capacity and 50 per cent of its energy requirement from clean energy by 2030," said Ashish Fafadia, partner, Blume Ventures.
Founded in 2021 by Anand Jain, Aerem brings on board deep domain expertise in both finance and solar and is best placed to enable and scale the sector. It has a huge impact on mitigating carbon emissions and also leads to increased profitability of MSMEs, making them more competitive.