Aerem, a solartech startup, has raised ₹100 crores in a Series A funding round led by UTEC (University of Tokyo Edge Capital Partners), the Japan-based $700 million venture firm.
The round also saw participation from British International Investment (BII), the UK’s development finance institution and impact investor; SE Ventures, the $1 billion+ climate and industrial tech fund backed by Schneider Electric; and Riverwalk Holdings, an early-stage venture fund focused on innovative fintech firms.
Existing investors Blume Ventures and Avaana Capital also participated in this round.
The strategic equity investment of ₹100 crore is in addition to debt capital from leading financial institutions such as IDFC, AU Small Finance, Axis Bank, Northern Arc, MAS Financials, and Vivriti Capital.
The funds raised will be used for expanding operations across India and solidifying its presence in existing markets by improving solar financing and marketplace solutions, strengthening the end-to-end platform, and diversifying the lending portfolio.
The funds raised will be also used to fuel the expansion of its end-to-end platform, scaling its marketplace business and broadening its lending portfolio to meet increasing demand.
Additionally, the investment will advance the company’s technology roadmap and enable the development of innovative financing solutions, furthering its mission to make solar energy more accessible.
Anand Jain, Founder and CEO, Aerem, said, “Getting a solar installation is complex for an Indian MSME or homeowner. From finding the right installer to the right price, right quality, and right financing, there exists a massive trust deficit throughout the fragmented ecosystem. Conventional approaches treat financing, technical complexity, and supply chain barriers as separate challenges. 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.”
“Our installation partners are the backbone of our ecosystem. These solar entrepreneurs understand local markets, maintain customer relationships, and provide on-ground implementation. Through our platform, we empower them with access to financing, quality equipment, and digital tools they would not otherwise have—creating a win-win model that scales solar adoption while supporting local businesses. Our vision goes beyond just providing solar solutions—we are building a true institution as ‘Aapka Solar Saathi’ which partners with businesses throughout their energy independence journey,” said Vikesh Agarwal, Co-Founder and COO, Aerem.
“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. 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,” said Kiran Mysore, Principal, UTEC.
“What sets Aerem apart for us at SE Ventures is its full stack platform that addresses the core friction points for solar installers, driven by an exceptional team across finance, tech, and business model innovation. We recognize Aerem’s category leadership in distributed solar and look forward to fuelling the company’s expansion by helping to establish go-to-market partnerships with our LP, Schneider Electric, and Schneider company Luminous,” said Siddharth Mehta, Partner, APAC, SE Ventures.
“We are delighted to back pioneering solutions like Aerem’s with catalytic capital, accelerating solar adoption and fostering inclusive economic development. This will increase the provision of affordable and clean energy to small businesses and communities across India which will help them to thrive. We eagerly anticipate Aerem’s expansion, unlocking greater financial access for widespread solar installations and contributing to India’s energy transition,” said Abhinav Sinha,Managing Director and Head of Technology and Telecoms, BII.
Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem is an end-to-end solar platform dedicated to simplifying solar adoption for businesses and households.
Aerem operates NetZero Fianace, a RBI-licensed solar-focused NBFC and SunStore, a B2B marketplace connecting solar equipment manufacturers, distributors, and installers, and a Unified Digital Platform that serves as the technological backbone seamlessly integrating financing and equipment solutions, streamlining the entire solar journey from start to savings.
Aerem has built a nationwide ecosystem of 2,000+ installation partners with a presence across 65 cities and a robust partner network. The company has enabled over 800 MW of solar capacity and successfully financed more than 800 projects.
