Aerem Raises ₹100 Crore in Series A from by UTEC, BII & SE Ventures to Fulfil India's Massive Potential of Distributed Solar

We are pleased to announce that Aerem, India's leading end-to-end solar platform making solar adoption simple for Indian businesses and households, has secured ₹100 crores in Series A funding to accelerate our mission of unlocking India's distributed solar potential.

Our round was led by UTEC (The University of Tokyo Edge Capital Partners), the Japan-based $700 million venture firm, with participation from British International Investment (BII), UK's development finance institution and impact investor; SE Ventures, the $1 billion+ climate and industrial tech fund backed by global energy management leader Schneider Electric; and Riverwalk Holdings, an early-stage venture fund focused on innovative fintech firms. Our existing investors Blume Ventures and Avaana Capital also participated. This strategic equity investment is complemented by debt capital from trusted financial institutions including IDFC, AU Small Finance, Axis Bank, Northern Arc, MAS Financials and Vivriti Capital.

Addressing the Solar Adoption Challenge

Despite India's abundant sunshine and compelling economics, the distributed solar sector remains significantly underpenetrated at just 17% of total capacity—far below the global average of over 50%.

"Getting a solar installation is complex for an Indian MSME or homeowner. From finding the right installer to the right price, right quality, and right financing, there exists a substantial trust deficit throughout the fragmented ecosystem," states Anand Jain, Founder and CEO of Aerem. "This Series A funding empowers us to further expand our national footprint across India, while deepening our presence in existing markets. We will accelerate our technology roadmap to create powerful products for our installation partners, introduce innovative financing solutions that make solar more accessible, and expand our commerce product offerings to ensure unmatched quality and variety."

Kiran Mysore, Principal at UTEC, says "Aerem is at the forefront of India's rooftop solar revolution, with a founding team that has played a pivotal role in the country's solar ecosystem evolution—from utility-scale solar adoption in 2010 to a decentralized rooftop solar boom in 2020. As a global deep-tech fund, we were impressed by Aerem's seamless integration of operational excellence in credit and marketplace dynamics, paired with a cutting-edge solar tech platform leveraging digital twins."

The Comprehensive Solar Platform

Our innovation lies in our comprehensive approach that addresses every friction point in the solar adoption journey.

"Conventional approaches treat financing, technical complexity, and supply chain barriers as separate challenges," explains Vikesh Agarwal, Co-Founder and COO of Aerem. We recognize these as interlocking parts of one ecosystem failure. Our end-to-end solution addresses the entire value chain, eliminating barriers to solar adoption."

Through our, India's only RBI-licensed solar-focused NBFC, we have pioneered the asset finance approach to financing distributed solar. However, financing represents just one component; through SunStore, our solar commerce platform, we connect OEMs, distributors, and installation partners in a seamless ecosystem. We address the trust deficit by offering high-quality components and streamlined fulfillment.

This integrated experience is delivered through our unified digital platform, where customers can engage end-to-end from initial consideration to realized savings—all in one place.

Siddharth Mehta, Partner, APAC at SE Ventures, shared "What sets Aerem apart for us at SE Ventures is its full stack platform that addresses the core friction points for solar installers, driven by an exceptional team across finance, tech, and business model innovation. We recognize Aerem's category leadership in distributed solar and look forward to fuelling the company's expansion by helping to establish go-to-market partnerships with our LP, Schneider Electric, and Schneider company Luminous."

Through our ecosystem of 2,000+ installation partners, we have established extensive nationwide distribution. This approach creates value throughout the solar ecosystem while enabling scale without incurring high acquisition costs.

"Our installation partners are the backbone of our ecosystem," states Jain. "These solar entrepreneurs understand local markets, maintain customer relationships, and provide on-ground implementation. Through our platform, we empower them with access to financing, quality equipment, and digital tools they would not otherwise have—creating a mutually beneficial model that scales solar adoption while supporting local businesses. Our vision extends beyond merely providing solar solutions—we are establishing a trusted institution as 'Aapka Solar Saathi' which partners with businesses throughout their energy independence journey."

Demonstrated Market Leadership

In just three years, Aerem has established itself as a leader in India's distributed solar ecosystem, with a robust network of installation partners and presence across 65 cities nationwide. We have enabled over 800 MW of solar capacity and successfully financed over 800 projects. Our company continues to experience consistent month-on-month growth as installation partners increasingly rely on our platform to deliver comprehensive solutions to MSMEs and homeowners. Through these installations, we have prevented close to 22 million tons of lifetime CO₂ emissions, equivalent to planting 53 million trees. These systems deliver an estimated ₹14,000 crores in energy cost savings for MSMEs over the project lifespan.

Abhinav Sinha, Managing Director and Head of Technology and Telecoms at BII, commented "We are delighted to back pioneering solutions like Aerem's with catalytic capital, accelerating solar adoption and fostering inclusive economic development. This will increase the provision of affordable and clean energy to small businesses and communities across India which will help them to thrive. We eagerly anticipate Aerem's expansion, unlocking greater financial access for widespread solar installations and contributing to India's energy transition."

Aerem is positioned to transform India's approach to solar energy adoption, accelerating the country's renewable energy transition.