India, Jan. 21 -- Solar financing startup Aerem Solutions has raised $15 Mn (around INR 137 Cr) in its pre-Series B funding round led by Sumitomo Mitsui Banking Corporation's VC arm SMBC Asia Rising Fund.

The round also saw participation from existing investors British International Investment (BII), The University of Tokyo Edge Capital Partners (UTEC), Blume Ventures, Avaana Capital, Riverwalk Holdings, and Schneider Electric's venture arm SE Ventures.

The Mumbai-based startup plans to deploy the capital to strengthen its EPC (engineering, procurement, and construction) and installer partner network. Besides, it will use the funds to expand its pan-India footprint and accelerate adoption among MSMEs and domestic households.

Founded by...