Solar financier Aerem acquired Spinkraft Ventures; establish platform

20 May 2024 CW Team

The financial details of the acquisition were not disclosed by the company. Founded in 2021, Spinkraft Ventures specialises in the sales and distribution of solar products across India. By integrating Spinkraft into its operations, Aerem seeks to utilise its distribution capabilities to offer complete solar solutions to customers.

Anand Jain, CEO, Aerem Solutions, expressed optimism about the combined strength of Aerem and Spinkraft, foreseeing an accelerated adoption of solar energy in India.

Aerem, known for its commercial solar financing arm NetZero Finance and proprietary software tools for streamlining solar projects, will now provide Spinkraft's team access to its technology platforms, processes, and systems to facilitate rapid operational scaling.

Supported by Blume Ventures and climate-technology investor Avaana Capital, Aerem had previously secured $5 million in a pre-Series A funding round, which included $1.5 million in debt financing from financial institutions. These funds were intended to expand its range of solar technology and financing options, as well as establish a network connecting financial institutions, engineering, procurement, and construction firms, and micro, small, and medium enterprises (MSMEs) to facilitate complete solutions for rooftop solar projects.

Earlier, Aerem had raised $2.5 million in pre-Series A funding to develop its technology platform.

The solar sector witnessed corporate funding of $8.1 billion through 41 transactions in the first quarter of 2024, reflecting a 4% decrease compared to the same period in 2023. However, there was a significant 47% increase in funding compared to the previous quarter, as revealed in Mercom Capital Group?s Q1 2024 Solar Funding and M&A Report.

(Source: Mercom)

Aerem, an Indian solar financing firm, has acquired Spinkraft Ventures, a solar equipment distributor, to establish a comprehensive platform covering the entire solar energy value chain, aiming to become India's sole full-stack platform for solar solutions. The financial details of the acquisition were not disclosed by the company. Founded in 2021, Spinkraft Ventures specialises in the sales and distribution of solar products across India. By integrating Spinkraft into its operations, Aerem seeks to utilise its distribution capabilities to offer complete solar solutions to customers. Anand Jain, CEO, Aerem Solutions, expressed optimism about the combined strength of Aerem and Spinkraft, foreseeing an accelerated adoption of solar energy in India. Aerem, known for its commercial solar financing arm NetZero Finance and proprietary software tools for streamlining solar projects, will now provide Spinkraft's team access to its technology platforms, processes, and systems to facilitate rapid operational scaling. Supported by Blume Ventures and climate-technology investor Avaana Capital, Aerem had previously secured $5 million in a pre-Series A funding round, which included $1.5 million in debt financing from financial institutions. These funds were intended to expand its range of solar technology and financing options, as well as establish a network connecting financial institutions, engineering, procurement, and construction firms, and micro, small, and medium enterprises (MSMEs) to facilitate complete solutions for rooftop solar projects. Earlier, Aerem had raised $2.5 million in pre-Series A funding to develop its technology platform. The solar sector witnessed corporate funding of $8.1 billion through 41 transactions in the first quarter of 2024, reflecting a 4% decrease compared to the same period in 2023. However, there was a significant 47% increase in funding compared to the previous quarter, as revealed in Mercom Capital Group?s Q1 2024 Solar Funding and M&A Report. (Source: Mercom)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..