BL Bengaluru Bureau
Bengaluru, July 11
Aerem, a solar financing platform, has raised $2.5 million in pre-Series A funding led by Blume Ventures.
The capital raised will be used for growing the loan book, building out the tech platform that would enable end-to-end digital and seamless interaction with various stakeholders and to hire teams including leadership in technology, product, finance, and operations.
Anand Jain, Founder, Aerem, said that the company is on a mission to democratize the adoption of rooftop solar and build a better, greener and sustainable future. “Our innovative SolarTech platform includes AAA (Aerem Asset Assurance) ensures quality rooftop solar systems, which combined with financing from our in-house NBFC or partner banks enable significant reduction in power bills of Micro Small and Medium Enterprises (MSME). We offer a fully digitalized, hassle free and seamless experience to MSMEs,” he added.
Aerem is targeting 20 million industrial MSMEs in India. The market potential is over $200 billion just in the MSME space, said the company.
The platform is a full-stack solution with a vision to build India’s first asset finance and quality platform for solar. Aerem aims to have a impact on mitigating carbon emissions and also leads to increased profitability of MSMEs, making them more competitive.
Ashish Fafadia, Partner, Blume Ventures, said, “Their full stack solution provides end to end engagement and is ahead of the market by one-two years. Solar is in a sweet spot where macro (top down) and micro (bottom up) factors are incredibly aligned.” This is extremely rare for any sector. India has targeted 280 GW of solar capacity and 50 per cent of its energy requirement from clean energy by 2030, he added.