Aerem raises $5 million funding led by Avaana Local weather Fund

Aerem, a solar tech platform, on Thursday, introduced the funding of $5 million (₹41 crores) in Pre-Collection A spherical, led by climate-tech investor, Avaana Capital. The spherical additionally noticed follow-on participation from Blume Ventures, and it consists of debt financing of $1.5 million from distinguished monetary establishments.

Aerem will utilise these funds to increase its suite of revolutionary solartech and financing options and construct an ecosystem that brings collectively all of the stakeholders — monetary establishments; engineering, procurement and development (EPC) firms; and companies (MSMEs) — to allow end-to-end options for rooftop photo voltaic initiatives. 

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Aerem was based in 2021 by Anand Jain, a Yale MBA, who labored as an funding banker on Wall Avenue after which got here again to India to pursue his ardour for Photo voltaic. Anand additionally labored with a number of the distinguished names within the photo voltaic and monetary service industries like Lehman Brothers, SunEdison, KPMG, and extra. Aerem offers 360-degree help to MSMEs to assist them harness solar energy and cut back their electrical energy prices by as much as 70 per cent. Aerem leverages its intensive community of installers to facilitate the implementation of high-quality rooftop solar systems. It additionally provides hassle-free loans by way of its in-house NBFC and companion banks. 

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Rooftop photo voltaic adoption

At Aerem, the driving power is its unwavering dedication to democratising the adoption of rooftop solar and making a greener, extra sustainable future. Because of its mission-driven strategy, Aerem delivers a Triple Bottomline impression – it locations equal emphasis on social, environmental, and monetary outcomes. 

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On the announcement, Founder and CEO, Anand Jain, stated, “The photo voltaic trade in India has been rising quickly in recent times, pushed by elevated consciousness of the advantages of renewable energy. India has set a goal of ~300 GW of photo voltaic vitality capability by 2030, requiring each rooftop and utility-scale to fireside. Aerem’s revolutionary options are well-positioned to capitalise on this pattern and assist speed up the transition to a extra sustainable future. This funding is a testomony to the energy of our SolarTech and Financing platform and the worth it offers to our prospects. We stay dedicated to our mission of constructing photo voltaic financing extra accessible and reasonably priced for all, and we look ahead to the continued help of our traders and companions in reaching this purpose.” 

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Anjali Bansal, Founding Companion, Avaana Capital, stated, “ Rooftop solar will play an important position in India’s inexperienced progress transition. There are a number of enabling elements, together with declining know-how price curves, important location benefit with 300 days of sunshine in a 12 months, and growing coverage help, reminiscent of web metering to progress in the direction of the 50 per cent renewable vitality capability targets. Aerem is constructing a singular technology-enabled platform to speed up the adoption by MSMEs and allow them with vitality entry and independence and equip MSME installers on the provision facet. We’re excited to work with Anand and the remainder of the Aerem workforce, and help them on this journey.”

Aerem works on resolving the obstacles that stop MSMEs from adopting rooftop photo voltaic. They collaborate with installers and help MSMEs by offering them with end-to-end options thus enhancing the adoption of solar energy. Aerem’s proprietary know-how platform ensures that the set up course of is checked for high quality, and it facilitates safe funds to installers.

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