Aerem Solutions Raises $15 Million To Accelerate Distributed Solar Growth Across India

Aerem Solutions, a leading platform for distributed solar in India, has raised $15 million (₹1.36 billion) in a pre‑Series B funding round led by SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corporation. Other investors in the round included British International Investment, The University of Tokyo Edge Capital Partners, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures. The funding highlights growing global confidence in India’s distributed solar sector and its potential to contribute to clean energy growth.

Founded in 2021 and based in Mumbai, Aerem offers a full-stack solution that integrates financing, design, procurement, and monitoring into a single digital platform. This approach addresses longstanding challenges in India’s distributed solar market, including fragmented installer capacity, limited access to financing, and inconsistent project quality. By combining solar financing, an equipment marketplace, and technology-driven support for system design and asset monitoring, Aerem aims to make it easier for EPC partners and installers to execute high-quality projects efficiently.

Rajeev Kannan, Head of India Division and Managing Executive Officer at SMBC, said that the partnership would help accelerate clean energy adoption in India by leveraging Aerem’s integrated solutions alongside SMBC’s financial expertise. Anand Jain, Founder and CEO of Aerem, noted that the funding would strengthen the company’s end-to-end capabilities, expand its partnerships with EPCs, and scale its operations across the country.

Despite the economic advantages of distributed solar—which can be three to four times cheaper than grid electricity—adoption in India remains limited. Distributed solar currently represents only 20 per cent of India’s total solar capacity, compared with over 50 percent in countries like the US, UK, and France. Aerem’s platform is designed to overcome these barriers, ensuring faster project execution, better post-installation monitoring, and higher overall quality, helping India move toward greater energy independence.

This new funding positions Aerem to expand its reach and impact, supporting the country’s transition to clean, reliable, and decentralized solar energy solutions.