Solartech startup Aerem raises $5M in a pre-Series A round led by Avaana Capital

Mumbai-based solar tech startup Aerem has raised $5 million in a pre-Series A funding round led by Avaana Capital, with participation from Blume Ventures and debt financing of $1.5 million from financial institutions.

The startup plans to use the raised capital to scale its suite of solar tech and financing solutions. It also aims to build an ecosystem that brings together all the stakeholders --- financial institutions; engineering, procurement and construction (EPC) companies; and businesses (MSMEs) --- to enable end-to-end solutions for rooftop solar projects.

Founded in 2021 by Anand Jain, Aerem helps micro, small, and medium enterprises (MSMEs) to set up solar ecosystems. The startup leverages its network of installers to facilitate the implementation of rooftop solar systems and helps them to reduce their electricity costs by up to 70%.

In addition to this, Aerem also offers loans through its in-house non-banking financial firm (NBFC) and partner banks.  

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