Distributed Solar Platform Aerem Secures USD 15 Mn to Expand Pan India Operations The pre-Series B funding round was led by SMBC Asia Rising Fund, with continued participation from British International Investment, UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings and SE Ventures.
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Distributed solar platform Aerem Solutions has raised USD 15 million (about INR 136 crore) in a pre-Series B funding round led by SMBC Asia Rising Fund, the venture arm of Sumitomo Mitsui Banking Corporation.
Existing investors British International Investment, UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings and SE Ventures (Schneider Electric) also participated in the round.
Following this raise, Aerem's total funding now stands at approx. USD 34.5 million. The Mumbai-based startup had earlier raised close to INR 100 crore or around USD 11.7 million in April last year in a round led by UTEC. In 2023, the company secured USD 5 million in a funding round led by Avaana Capital. The repeat participation from several investors highlights continued confidence in the company's approach to scaling distributed solar adoption in India.
The company said the newly raised capital will be used to strengthen its end to end capabilities across the distributed solar value chain. A significant portion of the funding will go toward deepening enablement for EPC firms and installer partners, while also supporting expansion of its pan India footprint.
Aerem also plans to accelerate adoption among micro, small and medium enterprises and homeowners by improving access to financing, enhancing affordability and ensuring consistent execution quality across projects.
Founded in 2021 by Anand Jain and Vikesh Agrawal, Aerem operates a full stack technology led platform that integrates solar financing, an equipment marketplace and digital tools for system design, procurement, financing and asset monitoring. The platform primarily serves MSMEs, homeowners, EPC companies and financial institutions, addressing long standing challenges related to fragmented execution, credit access and lifecycle management in the distributed solar segment.
Aerem claims it has enabled more than 1,200 megawatts of solar capacity across India and financed over 2,000 projects to date. Its ecosystem includes more than 3,200 verified installation partners operating across over 150 cities, giving the company broad reach in both urban and semi urban markets. The company states that its integrated model helps align incentives between installers, lenders and end customers, while reducing execution risk and improving project transparency.
Aerem operates in a competitive domestic landscape alongside companies such as Fourth Partner Energy, SunSource Energy, CleanMax, Oorjan Cleantech and ZunRoof.
