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

EntrackrEntrackr · 5h 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.

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SustVest raises $1.7 Mn in pre-Series A

EntrackrEntrackr · 1y ago
SustVest raises $1.7 Mn in pre-Series A
Medial

Sustainable investment platform SustVest has raised $1.7 million in its pre-Series A round in mix of equity and debt led by Inflection Point Ventures and Antler along with participation from WEH ventures, Venture Catalysts, Soonicorn Ventures, FAAD Network, and others. The proceeds will be used for key business growth initiatives, including acquiring solar projects, scaling marketing with the regulated platform launch, strengthening operations, and covering legal expenses. Founded by Hardik Bhatia and Devansh Shah, SustVest specializes in sustainable investments in renewable energy. The platform claims to have achieved over Rs 43 crore in Assets Under Management (AUM) with 9.3 MW of solar installations, distributed over Rs 5.7 crore in energy income and saved over 94 lakh kg of carbon emissions. The startup claims to offer investors fixed-income opportunities with environmental impact while enabling C&I consumers to access zero-cost solar projects at up to 50% lower tariffs. Its portfolio includes renowned clients such as Lodha Group, Hitachi, Mahle Group, Subros Ltd, CISF, NSG, CRPF, and others.

Exclusive: EV startup Qucev raises $15 Mn in Series B

EntrackrEntrackr · 1m ago
Exclusive: EV startup Qucev raises $15 Mn in Series B
Medial

Exclusive: EV startup Qucev raises $15 Mn in Series B Qucev has raised Rs 131.25 crore ($15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. Electric commercial vehicle startup Qucev has raised Rs 131.25 crore (approximately $15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. According to its regulatory filing with the Registrar of Companies (RoC) in September 2025, Qucev’s board issued 4,467,375 Series B compulsorily convertible preference shares at an issue price of Rs 293.8 per share to raise the said amount. Singularity AMC led the tranche with an investment of Rs 25.76 crore (nearly $3 million), followed by Lotus Family Trust, which put in Rs 18.5 crore. Anchorage Capital, Volrado Venture Partners, Param Capital, and S Gupta Family Investments each invested Rs 17.98 crore. The remaining amount was contributed by other investors, including angel investors Lakshay Singhal, Anubhav Gupta and company’s founder Naresh Rawal. According to Entrackr’s analysis, the company is currently valued at around Rs 538 crore or $61 million post-money. Founded in 2022 by Naresh Rawal, Qucev is a next-generation electric commercial vehicle company in partnership with China-based EV manufacturer BYD, designs and manufactures electric tractors, trucks, buses, and three-wheelers, focusing on sustainable and cost-effective mobility. Beyond manufacturing and sales, Qucev also offers financing, charging infrastructure, and fleet solutions. According to startup data intelligence platform TheKredible, Qucev has previously raised around $4 million from Singularity AMC, Barclays and Maa Creations. For the fiscal year ended March 2025, the company did not report any product sales and generated Rs 2.08 crore from the sale of services. During the same period, it recorded a loss of Rs 9.35 crore. Qucev competes with players like Euler Motors, Altigreen, as well as established names such as Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

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