Aerem raises $2.5mn in pre-series A funding led by Blume Ventures

Solar financing platform Aerem has raised $2.5million in pre-Series A funding led by Blume Ventures. Aerem is creating a full-stack solution with a vision to build India’s first asset finance and quality platform for solar. The capital raised will be used for growing the loan book, building out the tech platform that would enable end to end digital and seamless interaction with various stakeholders and to hire teams including leadership in technology, product, finance, and operations.

Aerem was founded in 2021 by Anand Jain who comes with a strong background in both financial services and solar. An MBA from Yale University, he worked as an investment banker with Lehman Brothers in New York before returning to India in 2009 to pursue his passion for solar. Aerem team brings on board deep domain expertise in both finance and solar and is best placed to enable and scale the sector.

Anand Jain, founder, Aerem, said, “Aerem is on a mission to democratise the adoption of rooftop solar and build a better, greener and sustainable future. Our innovative SolarTech platform includes AAA (Aerem Asset Assurance) ensures quality rooftop solar systems, which combined with financing from our in-house NBFC or partner banks enable significant reduction in power bills of MSMEs. We offer a fully digitalized, hassle free and seamless experience to MSMEs.”

Ashish Fafadia, Partner, Blume Ventures, added, “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 1-2 years. 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 per cent of its energy requirement from clean energy by 2030.”

Aerem is targeting 20mn industrial MSMEs in India. The market potential is over $200 billion just in the MSME space.