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Aerem Raises Rs100 Cr to Expand Rooftop Solar Solutions for MSMEs and Homeowners

Mumbai-based clean energy startup Aerem has secured Rs100 crore in a Series A funding round, led by Japan’s University of Tokyo Edge Capital (UTEC). Other notable participants include British International Investment (BII), SE Ventures (Schneider Electric’s investment arm), Riverwalk Holdings, and returning investors Blume Ventures and Avaana Capital. With this round, Aerem’s total funding now stands at approximately Rs166.47 crore.

Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem simplifies rooftop solar adoption for MSMEs and homeowners through a unified platform that spans solar financing (via its NBFC NetZero Finance), equipment procurement (SunStore marketplace), and an extensive network of over 2,000 verified solar installers.

The new funding will help Aerem expand into underserved markets in eastern and southern India, enhance its digital solar financing and B2B marketplace, and optimize installer network efficiency. The startup also plans to strengthen its digital infrastructure, reduce customer acquisition costs, and offer customized financial products for MSMEs.

Aerem has so far enabled over 800 MW of solar capacity, financing 800+ projects across 65 cities, and claims to have helped avoid 22 million tonnes of CO₂ emissions, translating to a potential Rs14,000 crore in energy savings for MSMEs over system lifetimes.

In FY24, the company reported a revenue surge to Rs175 crore, up from Rs1.84 crore in FY23, with controlled losses of Rs3.57 crore, showcasing financial discipline during rapid scale-up. With its goal to become “Aapka Solar Saathi,” Aerem aims to be a trusted partner in India's decentralized clean energy future.