Khaitan & Co advises University of Tokyo Edge Capital on acquiring stake in Aerem Solutions

Khaitan & Co advised The University of Tokyo Edge Capital Partners Company Limited (UTEC) in subscribing to a significant minority stake in Aerem Solutions Private Limited.

The ₹100 crore round was led by UTEC and saw participation from British International Investment (BII), SE Ventures, Riverwalk Holdings, along with existing investors - Blume Ventures and Avaana Capital.

Khaitan & Co advised UTEC on all transaction related aspects including drafting, reviewing and negotiating the transaction documents. Khaitan & Co also provided execution and closing assistance.

The core team consisted of Karun Cariappa (Partner), Kartikeya Prakash (Partner), Shaktibhushan Shukla (Senior Associate), and Dhruv Gupta (Associate) with assistance from the following: 

Tax aspects: Bijal Ajinkya (Partner), Rahul Jain (Partner), Husain Bohra (Senior Associate) and  Jinisha Jain (Senior Associate).

Aerem plans to utilize the fresh capital to expand its footprint across India, particularly in the eastern and southern regions, enhance its digital platform, and develop innovative financing solutions to make solar adoption more accessible. The company has facilitated the installation of over 800 MW of solar capacity, financing more than 800 projects, and working alongside a robust network of over 2,000 installation partners

Aerem, founded in 2021 by Anand Jain and Vikesh Agrawal, offers a comprehensive platform for rooftop solar adoption, particularly targeting micro, small, and medium enterprises (MSMEs). The company provides end-to-end solutions, including solar project financing, a B2B equipment marketplace, and asset management tools. Notably, Aerem operates NetZero Finance, India's only RBI-licensed solar-focused Non-Banking Financial Company (NBFC), facilitating solar loans for businesses and homeowners.

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