Solar financing platform Aerem has raised $2.5 million in funding led by Blume Ventures.
The capital will be used for growing the loan book, building the tech platform to enable end-to-end digital and seamless interaction with various stakeholders, and hiring teams, including leadership in technology, product, finance, and operations.
“Aerem’s aim is to democratise the adoption of rooftop solar for a better, greener, and sustainable future. Our innovative solar tech platform, including AAA (Aerem Asset Assurance), ensures quality rooftop solar systems,” said Anand Jain, founder, Aerem. “Combined with financing from our in-house NBFCs or partner banks, we enable a reduction in the power bills of MSMEs.”
“We are impressed with Anand’s vision and Aerem’s platform approach that includes credit. Their full-stack solution provides end-to-end engagement and is ahead of the market by one-two years,” said Ashish Fafadia, partner, Blume Ventures.
Fafadia added: “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% of its energy requirement from clean energy by 2030.”
Aerem, founded in 2021 by Jain, has had an impact on mitigating carbon emissions and led to increased profitability of MSMEs, making them more competitive.
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