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Aerem Raises a Funding of INR 41 Crore Led by Avaana Capital

The round witnessed follow-on participation from Blume Ventures and includes debt financing of USD 1.5 million from prominent financial institutions.

March 16, 2023. By Anurima Mondal

Mumbai-based start-up Aerem has raised a funding of INR 41 crore in a pre-Series A round led by Avaana Capital. The round witnessed the follow-on participation from Blume Ventures and debt financing of USD 1.5 million from eminent financial institutions.

The solar tech platform is expected to use the funds to expand its financing solutions. With an aim to enable end-to-end solutions for rooftop solar projects, Aerem wants to create an ecosystem by bringing all the stakeholders to one platform, from financial institutions to EPC companies.

Aerem is known for helping micro, small & medium enterprises to reduce their electricity costs by up to 70 percent through solar energy as well as providing loans through its NBFCs and partner banks. The company aims to provide energy access and independence to such enterprises.

Talking about the development, Anand Jain, Founder and CEO, Aerem said that Aerem's innovative solutions are well-positioned to accelerate the country’s transition to a more sustainable future. India has set a target of around 300 GW of solar energy capacity by 2030 including both rooftop and utility-scale projects.

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