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Funding · Climate, Energy & Sustainability

Aerem raises $15 million for solar expansion

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Date
Company
Aerem Solutions
What it does
Distributed solar financing and technology platform
Kind
Funding
Amount
INR 136 crore (USD 15 million)
Stage
Pre-Series B
Founded
2021
Sector
Climate, Energy & Sustainability

What they do

Aerem runs a full-stack platform for distributed solar in India, combining financing, equipment marketplace, and monitoring technology

What happened

It raised INR 136 crore (USD 15 million) in a Pre-Series B round led by SMBC Asia Rising Fund, with participation from BII, UTEC, Blume, Avaana, Riverwalk,…

Why it matters

The funds will expand its installer network and boost MSME and residential adoption, as distributed solar lags behind other countries

The details

  • Aerem Solutions raised INR 136 crore (about USD 15 million) in a Pre-Series B round announced on 21 January 2026.
  • The round was led by SMBC Asia Rising Fund, the venture arm of Sumitomo Mitsui Banking Corporation (SMBC).
  • Participating investors included British International Investment (BII), UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures (Schneider Electric's venture arm).
  • The company will use the funds to strengthen its EPC and installer partner network and expand its pan-India footprint.
  • It also plans to accelerate adoption among MSMEs and residential customers.
  • Aerem will invest in improving affordability, execution quality, and post-installation performance visibility.

The bigger picture

  • Distributed solar contributes only about 20 percent of India's total solar capacity, compared to ~52 percent in the US and ~57 percent in the UK and France.
  • Distributed solar power is 3-4x cheaper than grid electricity in India, making it an attractive alternative.
  • The Indian solar energy market is projected to grow from $12.4 billion in 2025 to $34.7 billion by 2033.
  • This funding comes as the company has already enabled over 1,200 MW of solar capacity and financed over 2,000 projects.

About the business

  • Aerem operates a full-stack platform for distributed solar adoption in India, integrating financing, equipment marketplace, and technology.
  • The platform includes a B2B solar equipment marketplace called SunStore.
  • It runs an NBFC arm, NetZero Finance, for supply-chain financing to solar equipment and EPC firms.
  • It offers a SaaS platform, Aerem Remote Operations Centre, for monitoring solar installations.
  • The company has enabled over 1,200 MW of solar capacity across India to date.
  • It works with over 3,200 installation partners across 150 cities in India.
  • Financed projects have generated lifetime energy cost savings of about USD 2.5 billion.
  • It has financed over 2,000 solar projects spanning MSMEs, homeowners, and EPC partners.

What happens next

  • Strengthen EPC and installer partner network.
  • Expand pan-India footprint.
  • Accelerate MSME and residential adoption.
  • Improve affordability, execution quality, and post-installation performance visibility.

The deal

Type
Pre-Series B

Investors

Founders

  • Anand Jain, CEO
  • Vikesh Agarwal, Co-founder

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