The capital will be used to enhance the loan book, build a technology platform to enable end-to-end digital and seamless interactions with various stakeholders and lead in technology, product, finance and operations including hiring teams .
“Arem aims to democratize the adoption of rooftop solar for a better, greener and sustainable future. Our innovative solar tech platform including AAA (Arem Asset Assurance) ensures the quality of rooftop solar systems.” Anand JainFounder, Erem.” With funding from our in-house NBFCs or partner banks, we enable reduction in the electricity bills of MSMEs.
Aerem’s platform removes the barriers faced by MSMEs in adopting rooftop solar. Startups provide a highly-scalable space.
“We are impressed by Anand’s approach and Aerem’s platform approach which includes Credit. Their full-stack solution provides end-to-end engagement and is a year or two ahead of the market,” said Ashish Fafdia, Partner, Bloom Ventures Told.
“Solar is at a sweet spot, where macro (top-down) and micro (bottom-up) factors align incredibly. This is extremely rare for any region. India has set a target of 280 GW of solar capacity and 50% of its energy requirement from clean energy by 2030.
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Founded in 2001 by Jain, ARAM has made an impact on reducing carbon emissions and increasing the profitability of MSMEs, making them more competitive. It is targeting 20 million industrial MSMEs in India. The expected market potential in the MSME sector alone is more than $200 billion.