Indian solar startup Aerem secures $11M in Series A funding
The round was led by Japan-based venture firm UTEC with participation from British International Investment, SE Ventures, and Riverwalk Holdings. Aerem’s existing investors Blume Ventures and Avaana Capital also participated.
Indian solar startup Aerem has secured ₹1 billion (around USD 11 million) in Series A funding, the company announced.
The round was led by Japan-based venture firm UTEC with participation from British International Investment, SE Ventures, and Riverwalk Holdings, according to a media release. Aerem’s existing investors Blume Ventures and Avaana Capital also participated.
This strategic equity investment was complemented by debt capital from financial institutions including IDFC, AU Small Finance, Axis Bank, Northern Arc, MAS Financials and Vivriti Capital.
“This Series A funding empowers us to further expand our national footprint across India, while deepening our presence in existing markets,” said Anand Jain, founder and CEO of Aerem. “We will accelerate our technology roadmap to create powerful products for our installation partners, introduce innovative financing solutions that make solar more accessible, and expand our commerce product offerings to ensure unmatched quality and variety.”
“Aerem is at the forefront of India’s rooftop solar revolution, with a founding team that has played a pivotal role in the country’s solar ecosystem evolution — from utility-scale solar adoption in 2010 to a decentralized rooftop solar boom in 2020,” said Kiran Mysore, Principal at UTEC. “As a global deep-tech fund, we were impressed by Aerem’s seamless integration of operational excellence in credit and marketplace dynamics, paired with a cutting-edge solar tech platform leveraging digital twins.”
“Conventional approaches treat financing, technical complexity, and supply chain barriers as separate challenges,” said Vikesh Agarwal, co-founder and COO of Aerem. “We recognize these as interlocking parts of one ecosystem failure. Our end-to-end solution addresses the entire value chain, eliminating barriers to solar adoption.”
Aerem has a network of installation partners and presence across 65 cities nationwide. The company says it has enabled over 800 MW of solar capacity and successfully financed over 800 projects.
