Blume leads $2.5 Mn round in solar startup Aerem

Aerem, a solar financing platform, has raised $2.5 million in pre Series A led by Blume Ventures. 

According to Aerem, the funds will be utilised for growing loan book, building tech platform and hiring in technology, product, finance and operation

Founded in 2021 by Anand jain, an MBA from Yale University, Aerem is a full stack-solution with  asset finance and quality platform for solar. It claims to have an impact on mitigating carbon emissions and increasing profitability of MSMEs, significant reduction in power bills for MSMEs.

The Mumbai-based company is targeting 20 million industrial MSMEs in India and market potential is over 200 billion dollar in this space.

In the ongoing calendar year, there are very few startups in Solar space that managed to raise funds. In June, Mumbai-based startup SolarSquare had scooped up $4 million led by Good Capital, with participation from US-based Lowercarbon Capital, Singapore-based Symphony Asia, and Nithin Kamath’s Rainmatter.