Aerem Secures $100 Crores in Funding for Solar Expansion
Mumbai based clean energy startup Aerem has successfully raised ₹100 crores (approximately $11.7 million) in a recent funding round led by Japan's UTEC. The round also saw participation from British International Investment (BII), SE Ventures, Riverwalk Holdings, and existing investors Blume Ventures and Avaana Capital.
With this latest investment, Aerem's total funding has now reached around ₹166.47 crores ($19.5 million). Earlier in 2023, the company secured $5 million in a previous funding round led by climate-focused investor Avaana Capital.
The funds will be utilized to facilitate the company's expansion across India, particularly in the eastern and southern regions, while also enhancing its digital platform, financing options, and solar marketplace.
Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem assists users in locating reliable solar installers, accessing financing, and ensuring the quality of equipment ,all through a streamlined system.
As of April 2025, Aerem claims to have facilitated the installation of over 800 MW of solar capacity and financed more than 800 projects, collaborating with a network of over 2,000 installation partners.
For the fiscal year ending March 2024, the company reported revenues of ₹175 crores, a significant increase from ₹1.84 crores in FY23. During this period, its losses remained relatively stable at ₹3.57 crores.
Aerem faces competition from companies such as Solarium, Zunroof, Loom Solar, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy, either directly or indirectly.
With this latest investment, Aerem's total funding has now reached around ₹166.47 crores ($19.5 million). Earlier in 2023, the company secured $5 million in a previous funding round led by climate-focused investor Avaana Capital.
The funds will be utilized to facilitate the company's expansion across India, particularly in the eastern and southern regions, while also enhancing its digital platform, financing options, and solar marketplace.
Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem assists users in locating reliable solar installers, accessing financing, and ensuring the quality of equipment ,all through a streamlined system.
As of April 2025, Aerem claims to have facilitated the installation of over 800 MW of solar capacity and financed more than 800 projects, collaborating with a network of over 2,000 installation partners.
For the fiscal year ending March 2024, the company reported revenues of ₹175 crores, a significant increase from ₹1.84 crores in FY23. During this period, its losses remained relatively stable at ₹3.57 crores.
Aerem faces competition from companies such as Solarium, Zunroof, Loom Solar, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy, either directly or indirectly.
