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Solar platform Aerem Solutions raises $15 Mn in pre-Series B

EntrackrEntrackr · 3h ago
Solar platform Aerem Solutions raises $15 Mn in pre-Series B
Medial

Solar platform Aerem Solutions raises $15 Mn in pre-Series B Distributed solar platform Aerem Solutions has raised $15 million (Rs 136 crore) in a pre-Series B funding round led by SMBC Asia Rising Fund, the venture arm of Sumitomo Mitsui Banking Corporation (SMBC). Existing investors British International Investment (BII), UTEC, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures (Schneider Electric) also participated in the round. With this infusion, Aerem’s total funding has reached approximately $34.5 million. Prior to the current round, the Mumbai-based startup had raised Rs 100 crore (around $11.7 million) in April last year, led by UTEC. In 2023, it had raised $5 million in an earlier funding round led by Avaana Capital. The fresh capital will be used to expand Aerem’s pan-India footprint, strengthen its EPC and installer partner network, and drive solar adoption among MSMEs and residential customers. The company also plans to invest in improving affordability, execution quality, and post-installation performance visibility. Founded in 2021, Aerem operates a full-stack platform for distributed solar adoption in India, integrating solar financing, an equipment marketplace, and a technology layer spanning system design, procurement, financing, and asset monitoring. It primarily serves MSMEs, homeowners, EPCs, and financial institutions. To date, Aerem claims to have enabled over 1,200 MW of solar capacity and financed more than 2,000 projects across the country. The company works with over 3,200 installation partners across 150 cities in India.

Stupa Sports Analytics raises Rs 28 Cr in pre-Series A round

EntrackrEntrackr · 1y ago
Stupa Sports Analytics raises Rs 28 Cr in pre-Series A round
Medial

Sportstech startup Stupa Sports Analytics has raised Rs 28 crore in its pre-Series A round led by Centre Court Capital and PeerCapital. Earlier to this pre-Series A round, Stupa had raised Rs 7.5 crore in seed and pre-seed funding. The proceeds will be used to fuel its talent acquisition, global expansion, and product enhancement initiatives. The latest fund pool will also be deployed to attract top AI/ML and engineering talent to build advanced solutions. The fund will also power Stupa’s ambitions to expand globally into markets like the US, UK, Australia, and the Middle East while expanding its existing presence in regions like Europe and Asia. Founded by Megha Gambhir, Stupa Sports Analytics offers a comprehensive suite of AI-driven solutions for advanced analytics of player performance data, broadcasting capabilities and sports digitization tools for athletes, sports federations, broadcasters and fan communities worldwide. Stupa claims to have established over 15 strategic partnerships with key governing bodies and sports federations, primarily in Europe.

Shivalik Small Finance Bank raises Rs 100 Cr from SMBC, Accel, Lightspeed, others

EntrackrEntrackr · 5m ago
Shivalik Small Finance Bank raises Rs 100 Cr from SMBC, Accel, Lightspeed, others
Medial

Shivalik Small Finance Bank raises Rs 100 Cr from SMBC, Accel, Lightspeed, others. Shivalik Small Finance Bank (SSFB), a small finance bank transitioning from an urban cooperative bank, has raised Rs 100 crore in equity capital. The funding round was led by SMBC Asia Rising Fund- Japan, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC), with additional participation from existing investors, Accel, Quona Capital, Lightspeed, and Sorin Investments. The proceeds will be utilised to strengthen its technology stack, expand workforce across critical functions such as product, engineering, and operations, and to develop scalable solutions through its rapidly growing banking-as-a-service (BaaS) proposition, SSFB said in a press release. Shivalik offers a full suite of retail and MSME-focused products, including savings accounts, fixed deposits, gold loans, overdrafts, and digital payments. It has also partnered with major insurance providers like Bajaj Allianz, Go Digit, Kotak Life, LIC, and New India Assurance to offer integrated financial solutions to its growing base of customers. As of FY24, Shivalik claims that it serves over 9 lakh customers across 79 branches and 114 business correspondent (BC) outlets in 11 states, with a workforce of around 800 employees. The bank has a business portfolio of over Rs 6000 crore and generated annual revenue of Rs 423 crore in the last fiscal year.

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