Aerem secures $15M to scale distributed solar network across India
The company said the funding will be used to support the company’s efforts to expand its national footprint, strengthen EPC and installer enablement, and accelerate distributed solar adoption among MSMEs and households by enhancing affordability and execution reliability.
Aerem Solutions, a Mumbai-based full-stack distributed solar platform, has raised $15 million (Rs 136 crore) in a Pre-Series B round led by SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corporation.
The round also saw participation from existing investors such as British International Investment (BII), UTEC, , Avaana Capital, Riverwalk Holdings, and SE Ventures.
The company said the fresh capital will support the company’s efforts to expand its national footprint, strengthen EPC and installer enablement, and accelerate distributed solar adoption among MSMEs and households by enhancing affordability and execution reliability.
“SMBC Group is committed to fostering the sustainable growth of the Indian economy through its financial expertise. We believe that Aerem’s integrated solutions across the solar energy ecosystem, including financing, marketplace platforms, and data-driven services, combined with SMBC Group’s financial capabilities, will play a pivotal role in accelerating the adoption of clean solar energy in India,” said Rajeev Kannan, Head of India Division, Managing Executive Officer, SMBC.
Founded in 2021 by Anand Jain and Vikesh Agrawal, Aerem offers an integrated technology platform that streamlines solar financing, system design, equipment procurement, and asset monitoring for MSMEs, installers, and lending partners.
Anand Jain, Founder and CEO of Aerem Solutions, said, SMBC’s partnership comes at a pivotal moment as distributed solar takes centre stage in India’s push for energy independence.
"By integrating finance, design, procurement, and monitoring into a single digital infrastructure, we are removing the 'trust deficit' that has historically fragmented the market. This funding enables us to provide the tools our EPC partners need to execute high-quality projects at national scale," he added.
With adoption slowed by fragmented installers and limited financing, Aerem aims to streamline the ecosystem by bringing EPCs, lenders, and customers onto one platform to cut execution risks and boost transparency.
So far, the company has facilitated 1,200 MW of solar capacity, financed more than 2,000 projects, and built a network of over 3,200 installation partners across 150 cities, contributing significantly to India’s distributed clean-energy transition.
Edited by Megha Reddy