Clean Energy Startup Aerem Raises INR 100 Cr from UTEC, BII, SE Ventures to Accelerate Distributed Solar Growth The Series A capital infusion will also go towards expanding Aerem's tech stack, refining its digital tools, and enabling customised financing solutions.
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Mumbai-based clean energy startup Aerem has raised INR 100 crore (approx USD 11.7 million) in a Series A funding round led by Japan's University of Tokyo Edge Capital (UTEC). The round also saw participation from British International Investment (BII), SE Ventures (backed by Schneider Electric), Riverwalk Holdings, and existing backers Blume Ventures and Avaana Capital.
The fresh capital will be used to expand Aerem's footprint across India, strengthen its solar financing and marketplace offerings, and enhance its end-to-end tech platform that empowers businesses and solar installers alike.
With this latest round, Aerem's total funding has reached approximately INR 166.47 crore (USD 19.5 million), following a USD 5 million raise in 2023 led by Avaana Capital.
"Aerem is at the forefront of India's rooftop solar revolution... 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," said Kiran Mysore, Principal, UTEC, explaining the rationale behind their investment.
Founded in 2021 by Anand Jain (CEO) and Vikesh Agarwal (COO), Aerem is an end-to-end platform for distributed solar energy adoption. Its services span solar financing via its NBFC arm NetZero Finance, quality equipment sourcing through its B2B marketplace SunStore, and support for over 2,000 installation partners.
The platform claims to have already enabled 800+ MW of solar capacity and financed more than 800 projects across 65 Indian cities.
Aerem solves, Jain said, "Getting a solar installation is complex for an Indian MSME or homeowner… Our end-to-end solution addresses the entire value chain, eliminating barriers to solar adoption." His co-founder Agarwal added, "We are building a true institution as 'Aapka Solar Saathi', partnering with businesses throughout their energy independence journey."
The Series A capital infusion will also go towards expanding Aerem's tech stack, refining its digital tools, and enabling customised financing solutions. The company aims to reduce acquisition costs through its robust installer network and scale up adoption among micro, small, and medium enterprises (MSMEs).
Siddharth Mehta, Partner at SE Ventures, added, "Aerem's full stack platform addresses the core friction points for solar installers, driven by an exceptional team across finance, tech, and innovation."
With its mission-driven approach, Aerem claims to have already prevented nearly 22 million tons of CO₂ emissions, equivalent to planting 53 million trees, and is projected to save INR 14,000 crore in energy costs for Indian MSMEs over project lifetimes—cementing its position as a leader in India's clean energy future.
