Mumbai-based clean energy startup Aerem has secured ₹100 crore in a Series A funding round, the latest headline in startup funding in India this week. The round was led by Japan's University of Tokyo Edge Capital (UTEC), with participation from British International Investment (BII), SE Ventures (Schneider Electric's investment arm), Riverwalk Holdings, and returning investors Blume Ventures and Avaana Capital. With this round, Aerem's total funding stands at approximately ₹166.47 crore.
How Aerem is powering rooftop solar for MSMEs
Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem simplifies rooftop solar adoption for MSMEs and homeowners through a unified platform. It spans solar financing via its NBFC NetZero Finance, equipment procurement through its SunStore marketplace, and a network of over 2,000 verified solar installers.
The startup has enabled over 800 MW of solar capacity, financing 800+ projects across 65 cities. In FY24, revenue surged to ₹175 crore — up from just ₹1.84 crore in FY23 — with controlled losses of ₹3.57 crore, a rare mix of speed and financial discipline for a Series A startup.
Where the ₹100 crore goes
The fresh capital will fund expansion into underserved markets in eastern and southern India, strengthen its digital solar financing and B2B marketplace, and optimise installer network efficiency. Aerem also plans to cut customer acquisition costs and roll out customised financial products for MSMEs under its "Aapka Solar Saathi" mission.
Why it matters for founders
Aerem's round shows where startup funding in India is flowing: platforms that bundle finance, supply chain and last-mile execution for a hard real-world problem. If you are building in climate tech, note the formula investors rewarded here — an NBFC licence path, a marketplace, and 800 MW of delivered capacity before Series A. Traction at scale beats decks every time.