Clean energy startup Aerem has raised ₹100 crore (approximately $11.7 million) in a fresh funding round led by Japan’s University of Tokyo Edge Capital (UTEC). The round also saw participation from British International Investment (BII), SE Ventures, Riverwalk Holdings, and returning investors Blume Ventures and Avaana Capital.

With this latest infusion, Aerem’s total funding now stands at around ₹166.47 crore ($19.5 million). The company previously raised $5 million in 2023, led by climate-focused investor Avaana Capital.

The newly raised capital will support Aerem’s nationwide expansion, particularly in eastern and southern India, while also strengthening its digital platform, solar financing services, and solar marketplace.

Founded in 2021 by Anand Jain and Vikesh Agarwal, Aerem offers a comprehensive platform that connects users to trusted solar installers, provides financing solutions, and ensures high-quality solar equipment.

As of April 2025, Aerem claims to have enabled the installation of over 800 MW of solar capacity, financed more than 800 projects, and built a network of over 2,000 installation partners.

In terms of financial performance, the company reported ₹175 crore in revenue for FY24, a significant jump from ₹1.84 crore in FY23, while maintaining stable losses at around ₹3.57 crore.

Aerem operates in a competitive landscape alongside players such as Solarium, Zunroof, Loom Solar, SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy.