Signals, Powered By EquityPandit
Aerem is the solar financing platform that has raised $2.5 million in pre-Series A, which invests funds led by Blume Ventures.
The company has created a full-stack solution with a vision to build India’s first asset finance and quality platform for solar.
- Vedanta Outlook for the Week (April 29, 2024 – May 03, 2024)
- Tata Steel Outlook for the Week (April 29, 2024 – May 03, 2024)
- PFC Outlook for the Week (April 29, 2024 – May 03, 2024)
- Piramal Enterprises Outlook for the Week (April 29, 2024 – May 03, 2024)
- MANAPPURAM Outlook for the Week (April 29, 2024 – May 03, 2024)
The fund has to be raised for growing the loan book, building out the tech platform that would enable from end to end digital interaction with many stakeholders to hiring teams, which includes leadership in technology, product, finance and operations.
In 2021 Anand Jain founded Aerem, which comes with a strong background in financial services. He has done his MBA from Yale University and also worked with Lehman Brothers in New York before returning to India in 2009 to pursue his passion for solar.
Anand Jain, the founder of Aerem, said, “Aerem is on a mission to democratise the adoption of rooftop solar and build a better, greener and sustainable future. Our innovative SolarTech platform includes AAA (Aerem Asset Assurance), which ensures quality rooftop solar systems. Combined with financing from our in-house NBFC or partner banks, these enable a significant reduction in power bills of MSMEs. We offer a fully digitalised, hassle-free and seamless experience to MSMEs.”
Ashish Fafadia, the Partner of 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 per cent of its energy requirement from clean energy by 2030.”
In India, Aerem is targeting twenty million industrial MSMEs. Over $200 billion is the market potential just in the MSME space.
