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Aerem, Indian SolarTech & Financing Platform Raises $5 Million Funding Led by Avaana Climate
Aerem, Indias leading SolarTech platform, today announced the funding of $5 million (INR 41 crores) in Pre-Series A round led by climate-tech investor Avaana Capital. The company aims to help MSMEs (Micro, Small, and Medium Enterprises) reduce their electricity costs by up to 70% by assisting them in harnessing the power of solar energy. By prioritizing these outcomes, Aerem aims to create a positive impact on society, the environment, and the economy.On the announcement, Founder & CEO, Anand Jain said The solar industry in India has been growing rapidly in recent years, driven by increased awareness of the benefits of renewable energy. There are several enabling factors including declining technology cost curves, significant location advantage with 300 days of sunshine in a year, and increasing policy support such as net metering to progress towards the 50% renewable energy capacity targets. Aerem is building a unique technology-enabled platform to accelerate the adoption by MSMEs and enable them with energy access and independence, as well as equip MSME installers on the supply side.