VC Fund Investments
Solar-tech startup Aerem raises Rs.100-Cr led by Japan’s UTEC
Mumbai-headquartered solar-tech startup Aerem has raised INR 100 crore in a funding round led by Japan-based venture fund UTEC. The round, which was a mix of equity and debt, also saw participation from British International Investment (BII), SE Ventures, and Riverwalk Holdings, along with existing investors Blume Ventures and Avaana Capital.The firm will use the funds for expanding operations across India, improving solar financing and marketplace solutions, strengthening the platform, and diversifying the lending portfolio. Aerem currently operates in 65 cities and plans to expand into eastern and southern India.Founded in 2021 by Anand Jain and Vikesh Agarwal, the company initially focused on asset financing for rooftop solar projects and later expanded to include commerce and solar technology.
Between Mar-22 and Mar-23, Aerem had attracted about USD7.5 M from Avaana Capital, Anchorage Capital Partners, Blume Ventures and others.
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