Solartech Platform Aerem Raises $5 M From Avaana Capital, Others
The funds will be used by Mumbai-based Aerem to expand its suite of solartech and financing solutions, as well as to build an ecosystem that brings all the stakeholders together
Aerem, a solartech platform, raised USD 5 million (Rs 41 crore) in a pre-Series A financing headed by climatetech investor Avaana Capital. Blume Ventures also participated in the round, and financial institutions provided USD 1.5 million in debt funding.
The funds will be used by Mumbai-based Aerem to expand its suite of solartech and financing solutions, as well as to build an ecosystem that brings together all stakeholders—financial institutions, engineering, procurement, and construction (EPC) companies, and businesses (MSMEs)—to enable end-to-end solutions for rooftop solar projects.
Aerem's platform, which was founded in 2021, assists MSMEs in harnessing the potential of solar energy and reducing their electricity expenses by up to 70 per cent. Aerem uses its installer network to make rooftop solar system installation easier. Loans are also made available through its in-house non-banking financial company and partner banks.
