Mumbai-based solartech startup Aerem, co-founded by Anand Jain (CEO) and Vikesh Agarwal (COO) in 2021, has raised ₹100 crore in fresh funding. The round was led by Japan’s UTEC (University of Tokyo Edge Capital Partners), with participation from British International Investment (BII), SE Ventures, Riverwalk Holdings, and existing backers Blume Ventures and Avaana Capital. The capital will be used to expand Aerem’s solar financing and marketplace platform across India.
Key Details
- Funding Amount: ₹100 crore
- Lead Investor: UTEC (Japan)
- Other Investors: BII, SE Ventures, Riverwalk Holdings, Blume Ventures, Avaana Capital
- Purpose of Funding:
- Expand reach across India, especially in eastern and southern regions
- Strengthen Aerem’s technology-driven solar financing platform
- Grow the network of solar installers and improve project execution
- Current Presence: Operates in 65+ cities
- Impact So Far:
- Over 800 MW of solar capacity facilitated
- 800+ solar projects financed
- 2,000+ installer partners on the platform
Founders' Background
- Anand Jain (Founder & CEO):
Brings 20+ years of experience in solar and finance. Former roles include leadership positions at SunEdison, KPMG, and Barclays. Jain’s expertise lies in scaling clean tech platforms and building financial infrastructure for renewable energy. - Vikesh Agarwal (Co-Founder & COO):
A finance veteran with 20+ years in global consulting and financial services. He previously worked at PwC, EY, Edelweiss, and APACFIN, with a strong background in operational finance and strategy.
Funding Details
Aerem’s ₹100 crore fundraise will accelerate its mission of democratizing solar adoption for businesses and individuals. The funds will go toward expanding Aerem’s operations, refining its end-to-end financing and solar project platform, and boosting customer acquisition.