Get All Access for $5/mo

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

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

SoftBank CEO Says AI 10x Smarter Than Humans Could Be Here in a Matter of Years

SoftBank CEO Masayoshi Son spoke to shareholders during the company's general meeting on Friday.

Business News

Amazon Is Thinking About Charging Extra for AI Alexa

"Hey Alexa, how much are you going to cost?"

Making a Change

Invest in a Lifetime of Learning for $100

Skill Success features a wide variety of e-learning courses on business, finance, and more.

Lifestyle

International Yoga Day: From Shilpa Shetty to Malaika Arora, Celebs who took the entrepreneurial route with yoga

On the occasion of International Yoga Day, here we take a look at how Shilpa Shetty Kundra, Malaika Arora, Lara Dutta, and many other celebrities not only practice yoga religiously but also turn their lifestyle choices into profitable businesses.

Business News

Olive Garden Is Planning to Increase Prices at a 'More Consistent' Rate Due to Inflation

The fast-casual chain saw a slight decrease in same-store sales during fiscal Q4 2024.