PE Fund Investments
Solar platform Aerem Solutions raises $15-M led by SMBC Asia Rising Fund
Mumbai-based Aerem Solutions has raised USD 15 million (INR 136 crore) in a pre-Series B round led by SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corporation, with participation from existing investors including British International Investment (BII), UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures.Founded in 2021 by Anand Jain and Vikesh Agrawal, Aerem offers a solar-focused integrated technology platform for solar financing, system design, equipment procurement, and asset monitoring for MSMEs (micro, small, and medium enterprises), installers, and lending partners.The fresh funding will be used by the company to expand its national footprint, strengthen its EPC (engineering, procurement, and construction) and installer enablement, and accelerate distributed solar adoption among MSMEs and households by enhancing affordability and execution reliability.
Between Mar-22 and Nov-24, Aerem had attracted about USD 19 M from Anchorage Capital Partners, Blume Ventures, Avaana Capital, British International Investment, Riverwalk Holdings, SE Ventures, and University of Tokyo Edge Capital.For FY24, Aerem had reported about INR 175 Cr in Operating Income and about INR 3.6 Cr in Net Loss.
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