Solartech Platform Aerem Raises $5 Mn In Pre-Series A Funding
Aerem, a solartech platform, has raised $5 million (Rs 41 crore) in a pre-Series A round led by climatetech investor Avaana Capital. The funding round also saw the follow-on participation from Blume Ventures and debt financing of $1.5 million from financial institutions.
As per the startup, the raised funds will be used to expand its suite of solartech and financing solutions and build an ecosystem that brings together all the stakeholders—financial institutions; engineering, procurement and construction (EPC) companies; and businesses (MSMEs)—to enable end-to-end solutions for rooftop solar projects.
Aerem | Building FinTech For CleanTech
Founded by Anand Jain in 2021, Aerem is on a mission to democratize the adoption of rooftop solar and create a better, greener, and more sustainable future.
It is a 360-degree ‘FinTech for CleanTech’ platform that helps businesses and commercial enterprises harness the power of the sun. The startup claims to help MSMEs reduce their electricity costs by up to 70%.
Speaking about the development, Anand Jain, Founder and CEO of Aerem, said,
“India has set a target of ~300 GW of solar energy capacity by 2030, requiring both rooftop and utility-scale to fire. Aerem’s innovative solutions are well-positioned to capitalise on this trend and help accelerate the transition to a more sustainable future.”
The startup leverages its widespread installer network and empowers micro, small, and medium enterprises (MSMEs) to set up solar ecosystems. Its unique platform helps businesses implement high-quality rooftop solar systems along with quick & easy loans from our in-house NBFC or partner banks.
Commenting on the development, Anjali Bansal, Founding Partner of Avaana Capital, said,
“Aerem is building a unique technology-enabled platform to accelerate the adoption by MSMEs and enable them with energy access and independence, as well as equip MSME installers on the supply side. We’re excited to work with Anand and the rest of the Aerem team and support them on this journey.”
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