Led by SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corp., the pre‑Series B round reinforces global investor confidence in India’s distributed solar story.
Aerem Solutions, India’s leading full‑stack platform for distributed solar, has raised $15 million (₹1.36 billion) in a pre‑Series B round led by SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corp. The round also saw participation from British International Investment, The University of Tokyo Edge Capital Partners, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures.
“SMBC Group is committed to fostering the sustainable growth of the Indian economy through its financial expertise. We believe that Aerem’s integrated solutions across the solar energy ecosystem, combined with SMBC Group’s financial capabilities, will play a pivotal role in accelerating clean energy adoption in India,” said Rajeev Kannan, Head of India Division and Managing Executive Officer, SMBC.
Founded in 2021 and headquartered in Mumbai, Aerem integrates financing, design, procurement, and monitoring into a single digital infrastructure, addressing the “trust deficit” that has historically fragmented India’s distributed solar market.
“We are privileged to welcome SMBC as a strategic partner at a time when distributed solar is becoming central to India’s energy independence,” said Anand Jain, Founder & CEO. “This funding enables us to provide EPC partners with the tools they need to execute high‑quality projects at scale.”
Aerem’s platform combines solar financing, a marketplace for equipment, and technology‑driven support for system design, procurement, and asset monitoring. The fresh capital will be deployed to strengthen Aerem’s end‑to‑end capabilities, deepen partnerships with EPCs and installers, and expand its pan‑India footprint.
Despite strong economics—distributed solar power is 3-4 times cheaper than grid electricity—adoption in India remains limited. Distributed solar currently accounts for only 20 per cent of India’s total solar capacity, compared to nearly 52 per cent in the US and nearly 57 per cent in the UK and France. Aerem’s integrated model seeks to overcome barriers such as fragmented installer capacity, limited financing, and weak post‑installation visibility, ensuring consistent project quality and faster adoption.