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Friday, April 19, 2024

Aerem raises $5M to expand its climate tech business

Aerem secured $2.5 million in pre-Series A fundraising sponsored by Blume Ventures in 2022. The new funds will be used to develop the company’s array of revolutionary solar tech and finance products.

Avaana Capital led a $5 million (about Rs 41 crore) pre-Series A round of fundraising for Mumbai-based climate tech business Aerem. According to a news statement, Blume Ventures also participated in the round, which also included $1.5 million in debt funding from financial institutions.

Aerem secured $2.5 million in pre-Series A fundraising sponsored by Blume Ventures in 2022. The new funds will be used to develop the company’s array of revolutionary solar tech and finance products.

Anand Jain established Aerem in 2021. The organisation assists micro, small, and medium-sized companies (MSMEs) in reducing their electricity expenses by up to 70% by utilising solar energy. The company installs rooftop solar systems through its installation network.

Loom Solar, a solar tech firm, secured $2 million in investment in January from US-based Social Investment Managers and Advisers (SIMA). The firm was founded in 2018 and specialises on residential solar.

Taushif Patel

Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

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