Aerem Solutions, a distributed solar platform, has raised $15 million (Rs 136 crore) in a pre-Series B fundraising round headed by Sumitomo Mitsui Banking Corporation's (SMBC) venture arm, SMBC Asia Rising Fund.
Key Highlights
- Aerem Solutions raises $15 Mn pre-Series B to scale solar platform and expand clean energy access.
- Funding will support technology upgrades, market expansion, and financing solutions for solar adoption.
The round also included participation from current investors British International Investment (BII), UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures (Schneider Electric).
Aerem now has about $34.5 million in total funding after this inflow. The Mumbai-based business, founded by UTEC, raised Rs 100 crore (about $11.7 million) in April of last year before the current round. It had previously raised $5 million in a fundraising round headed by Avaana Capital in 2023.
The additional funds will be utilized to increase Aerem's presence throughout India, fortify its network of EPC and installer partners, and encourage MSMEs and residential clients to adopt solar. Additionally, the business intends to make investments to enhance post-installation performance visibility, execution quality, and affordability.
Also Read: Arthum Secures Rs 10 Cr in Seed Funding Led by Caret Capital
Aerem, which was established in 2021, runs a full-stack platform for distributed solar adoption in India that combines solar finance, an equipment marketplace, and a technological layer that includes asset monitoring, system design, procurement, and financing. MSMEs, homeowners, EPCs, and financial institutions are its main clients.
Aerem claims to have sponsored more than 2,000 projects nationwide and enabled more than 1,200 MW of solar capacity to date. In 150 Indian locations, the company collaborates with more than 3,200 installation partners.
