Aerem to invest $5Mn to solve slow solar energy adoption in India

Solartech and financing platform Aerem has raised $5 million in its pre-series A round led by Avaana Capital, with Blume Ventures participating.

Aerem plans to use the funds to expand its operations and tackle solar energy adoption in India. The company aims to provide affordable and accessible solar energy solutions to Indian households and businesses.

Aerem is a Mumbai-based solartech and financing platform that aims to make solar energy accessible and affordable to Indian households and businesses. The company provides a range of solar energy solutions, including rooftop solar panels, solar water heaters, and solar pumps.

The company’s latest funding round was led by Avaana Capital, a climate-tech investor that focuses on investing in companies that are working to address climate change. Blume Ventures, a venture capital firm that invests in early-stage startups, also participated in the funding round.

“India has set a target of ~300 GW of solar energy capacity by 2030, requiring both rooftop and utility-scale to fire. Aerem’s innovative solutions are well-positioned to capitalise on this trend and help accelerate the transition to a more sustainable future,” said Anand Jain, Founder and CEO, Aerem.

Aerem set to accelerate solar adoption in homes

The solar company’s mission is to make solar energy accessible and affordable to all Indians. The company believes that solar energy is the key to India’s energy future and is committed to making it a reality.

According to Aerem’s CEO, “We are thrilled to have Avaana Capital and Blume Ventures on board as we continue our mission to make solar energy accessible and affordable to all Indians. This funding will help us to expand our operations and reach more customers across India.”

Avaana Capital’s Managing Partner, said, “We are excited to partner with Aerem in their mission to make solar energy accessible and affordable to all Indians. We believe that Aerem’s innovative approach to financing and solartech will help to accelerate the adoption of solar energy in India

The company’s latest funding round will help it to expand its operations and reach more customers across India. Aerem plans to use the funds to develop new solar energy solutions and to expand its existing product offerings.

In conclusion, Aerem’s latest funding round is a significant milestone for the company and for the Indian solar energy industry as a whole. The company’s mission to make solar energy accessible and affordable to all Indians is an important one, and the latest funding round will help it to achieve this goal.

The funding amount includes $1.5 million in debt financing. The firm last raised $2 million in July 2022.

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