Aerem Solutions Powers Up with $15 Million Pre-Series B: A Deep Dive into India’s Solar FinTech Revolution
Discover how Aerem Solutions is revolutionizing India’s solar sector. Explore its latest $15M Pre-Series B funding led by SMBC, its innovative “FinTech for CleanTech” model, and its vision to power MSMEs and homeowners nationwide.
The Indian distributed solar landscape just received a significant boost. Aerem Solutions, a Mumbai-based “FinTech for CleanTech” platform, recently announced it has raised $15 million (approximately ₹136 crore) in a Pre-Series B funding round.
Led by the SMBC Asia Rising Fund, the venture arm of Japan’s Sumitomo Mitsui Banking Corporation, this infusion marks a pivotal moment for the startup as it scales its mission to democratize solar energy for India’s underserved sectors.
The Funding Landscape: A Journey of Investor Confidence
This latest round brings Aerem’s total capital raised to approximately $34.5 million, reflecting sustained interest from both global and domestic institutional investors.
The Pre-Series B round saw enthusiastic participation from a heavy-hitting roster of existing investors, including:
- British International Investment (BII)
- The University of Tokyo Edge Capital Partners (UTEC)
- Blume Ventures
- Avaana Capital
- Riverwalk Holdings
- SE Ventures (the venture arm of Schneider Electric)
Historical Funding Milestones:
|
Date |
Round |
Amount |
Lead Investor |
|---|---|---|---|
|
January 2026 |
Pre-Series B |
$15 Million |
SMBC Asia Rising Fund |
|
April 2025 |
Series A |
~₹100 Crore (~$11.7M) |
UTEC |
|
2023 |
Funding Round |
$5 Million |
Avaana Capital |
|
2022 |
Pre-Series A |
$2.5 Million |
Blume Ventures |
- Also Read: Top 10 Angel Investment Networks in India (2026): The Ultimate Founder’s Guide to Fundraising.
Company History: Bridging the Gap Since 2021
Founded in 2021 by Anand Jain and Vikesh Agrawal, Aerem Solutions was born out of a clear market gap: the “trust deficit” and financial friction preventing small businesses and homeowners from switching to solar.
- Anand Jain (Founder & CEO): An alumnus of Yale with over 15 years in the solar industry (including stints at KPMG and SunEdison), Jain brought deep domain expertise in renewable deployments.
- Vikesh Agrawal (Co-founder): With a background in credit administration and risk scoring at firms like PwC and Edelweiss, Agrawal provided the financial backbone needed to build a robust lending ecosystem.
Together, they designed a full-stack digital infrastructure that unifies system design, procurement, financing, and asset monitoring.
Current Business Model: The “Solar Saathi” Ecosystem
Aerem operates through an integrated platform that serves as a one-stop-shop for distributed solar. Its business potential is driven by three core pillars:
1. Solar Financing (NetZero Finance)
Through its RBI-licensed NBFC, NetZero Finance, Aerem provides collateral-free solar loans. This addresses the primary barrier for MSMEs—the high upfront cost of installation.
2. B2B Marketplace (SunStore)
Aerem offers a curated marketplace for solar equipment, ensuring that EPC (Engineering, Procurement, and Construction) partners have access to high-quality, verified components. This was further bolstered by the acquisition of Spinkraft Ventures in 2024.
3. Technology & Digital Twins
The platform utilizes AeROC, a solar digital twin technology, to provide performance visibility and asset monitoring, ensuring that installations actually deliver the promised energy savings.
Impact to Date: Aerem has enabled over 1,200 MW of solar capacity and financed 2,000+ projects, helping avoid nearly 35 million tonnes of lifetime CO₂ emissions.
Future Potential: Scaling for National Impact
The fresh capital is earmarked for aggressive expansion. As India aims for 300 GW of solar capacity by 2030, Aerem is positioning itself as the primary facilitator for the “rooftop revolution.”
- Pan-India Expansion: Aerem currently works with 3,200+ installation partners across 150 cities. The goal is to deepen this network to cover every corner of the country.
- Enhanced Affordability: By leveraging SMBC’s financial expertise, Aerem aims to further lower interest rates and create more flexible financing products for residential users.
- Operational Excellence: The company plans to invest heavily in its digital tools to help EPC partners execute projects at a national scale with higher transparency and better quality control.
The Road Ahead
With a revenue of ₹177 crore reported for FY24 and a massive addressable market of 63 million MSMEs in India, Aerem is no longer just a startup; it is a critical piece of India’s clean energy infrastructure. By solving the complex puzzle of financing and execution, Aerem is well on its way to becoming the “Solar Saathi” (Solar Partner) for millions.
Team: Intellexconsulting.com
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