Mumbai-based solar financing startup Aerem has announced a successful Series A funding round of ₹100 crore (approximately US$12 million), marking a significant milestone in India’s clean energy sector. The round was led by University of Tokyo Edge Capital Partners (UTEC), a renowned Japan-based venture capital firm, with participation from existing investors including Blume Ventures.
Founded with a mission to accelerate the adoption of solar energy in India, Aerem offers a full-stack platform that simplifies solar financing for small and medium-sized enterprises (SMEs). The company combines solar technology with innovative financing solutions, enabling businesses to reduce their carbon footprint while lowering energy costs.
According to Aerem, the new capital will be used to expand its rooftop solar financing platform, scale its technology infrastructure, and strengthen its network of solar installers across the country. A portion of the funding will also support the expansion of Aerem’s non-banking financial company (NBFC) arm to disburse loans to SMEs more efficiently.
Key Highlights of the Funding Round:
Amount Raised: ₹100 crore (US$12 million)
Lead Investor: University of Tokyo Edge Capital Partners (UTEC)
Other Participants: Blume Ventures and others
Use of Funds: Scaling tech, expanding installer network, NBFC operations
UTEC’s investment reflects a growing international interest in India’s renewable energy market, particularly in distributed solar solutions for businesses. The VC firm cited Aerem’s potential to drive large-scale impact in India’s transition to cleaner energy sources.
Aerem’s CEO, Anand Jain, expressed his excitement over the funding, stating, “This investment validates our vision of making solar accessible and affordable for India’s SMEs. With UTEC and Blume’s continued support, we are well-positioned to drive the clean energy revolution.”
As India races toward its ambitious renewable energy targets, startups like Aerem are playing a pivotal role in democratizing access to solar energy. With fresh capital and international backing, Aerem is poised to accelerate its journey in empowering thousands of Indian bu
sinesses to go solar.
