Aerem Bags ₹100 Crore from UTEC, BII & SE Ventures in Series A Round; Set to Propel Solar Energy Landscape in India

Mumbai, April 4, 2025 — Aerem, India’s leading end-to-end solar platform dedicated to simplifying solar adoption for businesses and households, today announced that it has secured ₹100 crore in Series A round led by UTEC (University of Tokyo Edge Capital Partners), the Japan-based $700 million venture firm. This investment will further Aerem’s mission to unlock India's vast distributed solar potential and accelerate the transition toward sustainable energy. The funds will drive the company’s expansion across India and enhance its solar financing and marketplace solutions.

Other prominent investors included British International Investment (BII), the UK’s development finance institution and impact investor; SE Ventures, the $1 billion+ climate and industrial tech fund backed by Schneider Electric; and Riverwalk Holdings, an early-stage venture fund focused on innovative fintech firms. Existing investors Blume Ventures and Avaana Capital also participated in this round. The strategic equity investment of ₹100 crore is in addition to debt capital from leading financial institutions such as IDFC, AU Small Finance, Axis Bank, Northern Arc, MAS Financials, and Vivriti Capital.

The Series A funding will drive the company's distribution growth across India and solidify its presence in existing markets. It will also fuel the expansion of its end-to-end platform, scaling its marketplace business and broadening its lending portfolio to meet increasing demand. By accelerating the adoption of its tech platform among stakeholders, the company aims to enhance accessibility, transparency and quality across the solar ecosystem.

Additionally, the investment will advance the company's technology roadmap and enable the development of innovative financing solutions, furthering its mission to make solar energy more accessible. This strategic boost positions Aerem to significantly amplify its impact on India's renewable energy landscape while continuing to deliver exceptional value to its customers.

“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.” said Kiran Mysore, Principal, UTEC.

Aerem was founded to unlock India's untapped distributed solar potential, which currently represents only 17% of total solar capacity compared to the global average of over 50%. The company addresses this significant market gap by providing an end-to-end solar solution.

Anand Jain, Founder and CEO, Aerem, said “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 massive trust deficit throughout the fragmented ecosystem. Conventional approaches treat financing, technical complexity, and supply chain barriers as separate challenges. 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."

“Our installation partners are the backbone of our ecosystem. 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 win-win model that scales solar adoption while supporting local businesses. Our vision goes beyond just providing solar solutions—we are building a true institution as 'Aapka Solar Saathi' which partners with businesses throughout their energy independence journey.” said Vikesh Agarwal, Co-Founder and COO, Aerem.

“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," said Siddharth Mehta, Partner, APAC at SE Ventures."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.” said Siddharth Mehta, Partner, APAC, SE Ventures.

"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," said Abhinav Sinha, Managing Director and Head of Technology and Telecoms, BII.

By building a nationwide ecosystem of 2,000+ installation partners, Aerem has unlocked scalable distribution while minimizing acquisition costs. In just three years, it has emerged as a leader in India’s distributed solar sector, with a presence across 65 cities and a robust partner network. The company has enabled over 800 MW of solar capacity and successfully financed more than 800 projects. These initiatives have prevented nearly 22 million tons of lifetime CO₂ emissions, equivalent to planting 53 million trees. Additionally, these installations are projected to save ₹14,000 crore in energy costs for MSMEs over their lifetime. With consistent month-on-month growth, Aerem continues to empower installation partners to deliver comprehensive, end-to-end solar solutions to MSMEs and homeowners across India.