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Solar Financing Platform Aerem Raises $2.5M Funding Led by Blume Ventures

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growatt01-08-2022

Solar financing platform Aerem has raised $2.5million in pre-Series A funding led by Blume Ventures. Aerem is the pioneer of a full-stack platform with a vision for India’s first solar asset finance and quality platform.

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The capital raised will be used to grow the loan book, build out the tech platform that would allow end-to-end digital interaction with different stakeholders, and to hire leaders in technology, product and finance.

Aerem’s platform addresses the key barriers to rooftop solar adoption for MSMEs. Startup services a large and highly scalable market and is ready to adapt to the changing and evolving sustainability era.

By nature of its business, Aerem has a huge impact on mitigating carbon emissions and also leads to increased profitability of MSMEs, making them more competitive. Aerem plugs a glaring product gap that is preventing mass adoption of solar rooftops and works with solar installers and EPC companies by helping finance their solar customers leading to increase in their business and employment potential.

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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 democratize 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% of its energy requirement from clean energy by 2030.”

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

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