Solar financing startup Aerem Solutions has raised $15 Mn (around INR 137 Cr) in its pre-Series B funding round led by Sumitomo Mitsui Banking Corporation’s VC arm SMBC Asia Rising Fund. The round also saw participation from existing investors British International Investment (BII), The University of Tokyo Edge Capital Partners (UTEC), Blume Ventures, Avaana Capital, Riverwalk Holdings, and Schneider Electric’s venture arm SE Ventures. The Mumbai-based startup plans to deploy the capital to strengthen its EPC (engineering, procurement, and construction) and installer partner network. Besides, it will use the funds to expand its pan-India footprint and accelerate adoption among MSMEs and domestic households. Founded by Anand Jain and Vikesh Agarwal in 2021, Aerem offers financing solutions for solar installations to businesses and homeowners, while also supporting solar equipment and EPC firms through supply-chain financing via its NBFC arm, NetZero Finance. In addition, the startup operates a B2B solar equipment marketplace, SunStore, which enables customers to source products at competitive prices. The startup also offers a SaaS platform called Aerem Remote Operations Centre, which allows users to monitor their entire solar installation from a single dashboard. Aerem claims to have enabled more than 1,200 MW of solar capacity across the country… Read MoreInc42 Media
