Solar Energy Startup Aerem Solutions Raise $15 million in a Pre-Series B Funding

Mumbai-based solar energy company Aerem Solutions has secured $15 million (Rs 136 crore) in a Pre-Series B funding round led by Sumitomo Mitsui Banking Corporation’s venture capital (VC) arm SMBC Asia Rising Fund.

Other investors who participated in this round were British International Investment (BII), UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures.

Last year, it raised $11.7M (Rs 100 crores) in Series A led by University of Tokyo Edge Capital Partners (UTEC), a VC firm supporting growth in climate tech between India and Japan.

Founded in 2021 by Anand Jain and Vikesh Agrawal, Aerem Solutions is a solar-focused FinTech company that provides full-stack solutions for rooftop solar adoption, including financing, procurement, and monitoring. 

The company offers an integrated technology platform that streamlines solar financing, system design, equipment procurement, and asset monitoring for MSMEs, installers, and lending partners.

Aerem offers financing for solar project installations through its wholly owned RBI-licensed NBFC, NetZero Finance. The loans are available for residential, commercial, and industrial projects at competitive rates for 5 years.

It also has a B2B online marketplace, SunStore, for solar equipment, connecting EPC partners, manufacturers, and distributors with high-quality products at competitive prices. The platform offers an extensive range of solar products from brands like Waaree and Trina Solar, including kits, modules, and accessories.

The company plans to use the latest funding to expand across India and accelerate adoption among micro, small, and medium enterprises (MSMEs) and homeowners by improving access to distributed solar solutions, enhancing affordability, and ensuring high-quality execution.

Aerem Solutions is among the many emerging solar energy startups in India that can play a critical role in accelerating rooftop and distributed solar adoption. These companies enable scalable access to clean energy for MSMEs, homeowners, and EPC partners.

Additionally, Aerem addresses key market barriers, such as financing gaps, to achieve 500 GW of renewable energy by 2030.