New Delhi / Mumbai: Aerem Solutions, a leading full-stack platform for distributed solar in India, has raised USD 15 million (INR 136 crore) in a Pre-Series B round led by SMBC Asia Rising Fund, the venture arm of Japan’s Sumitomo Mitsui Banking Corporation (SMBC). Existing investors including British International Investment (BII), The University of Tokyo Edge Capital Partners (UTEC), Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures also participated.

Founded in 2021 and headquartered in Mumbai, Aerem Solutions helps MSMEs, homeowners, and installers deploy high-quality distributed solar at scale by integrating financing, a marketplace for solar equipment, and technology for system design, procurement, and asset monitoring. The company is led by Anand Jain (Founder & CEO) and Vikesh Agrawal (Co-founder & Head of NBFC).

The new funding will strengthen Aerem’s end-to-end capabilities, expand its pan-India reach, and accelerate adoption among MSMEs and homeowners by improving affordability and ensuring reliable execution. Despite solar being 3-4 times cheaper than grid electricity, India’s distributed solar adoption remains low (~20% of total solar capacity), far behind countries like the U.S. (~52%) and U.K./France (~57%).

“Aerem’s integrated solutions, combined with SMBC’s financial expertise, will accelerate the adoption of clean solar energy in India,” said Rajeev Kannan, Head of India Division, SMBC.