The capital will be used for growing the loan book, building the tech platform to enable end-to-end digital and seamless interaction with various stakeholders, and hiring teams, including leadership in technology, product, finance, and operations.
“Aerem’s aim is to democratise the adoption of rooftop solar for a better, greener, and sustainable future. Our innovative solar tech platform, including AAA (Aerem Asset Assurance), ensures quality rooftop solar systems,” said Anand Jain, founder, Aerem.”Combined with financing from our in-house NBFCs or partner banks, we enable a reduction in the power bills of MSMEs.”
Aerem’s platform addresses the bottlenecks in the adoption of rooftop solar for MSMEs. The startup services a highly-scalable space.
“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 one-two years,” said Ashish Fafadia, partner, Blume Ventures.
“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% of its energy requirement from clean energy by 2030.”
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Aerem, founded in 2001 by Jain, has had an impact on mitigating carbon emissions and led to increased profitability of MSMEs, making them more competitive. It is targeting 20 million industrial MSMEs in India. The expected market potential is over $200 billion just in the MSME space.