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SolarSquare raises $53 Mn in Series C led by B Capital

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SolarSquare raises $53 Mn in Series C led by B Capital

Residential solar startup SolarSquare has raised $53 million in a Series C funding round led by B Capital, with participation from existing investors Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter, and Good Capital.

The fresh round takes the company's total funding to more than $100 million.

Founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, SolarSquare provides end-to-end rooftop solar solutions for homeowners, covering consultation, system design, installation, financing support, and maintenance.

The company said the proceeds will be used to accelerate expansion into new cities, strengthen its technology platform, hire talent, and scale its home energy offerings, including solar installations, financing, battery storage, and energy management solutions.

According to SolarSquare, it has powered more than 50,000 homes across India and is currently operating at an annual revenue run rate of over Rs 1,000 crore.

“Five years ago, we made a conviction-led bet that every Indian home will be powered by rooftop solar. At the time, residential solar was still very nascent, with barely 1 lakh homes going solar per year. Today, the category has inflected with 1 lakh homes adopting solar every 10 days in India,” said Shreya Mishra, co-founder and CEO of SolarSquare.

The company claims to manage India's largest portfolio of residential solar assets and says it was the first player in the country to introduce performance guarantees for rooftop solar installations.

The funding comes amid increasing adoption of residential solar, supported by rising electricity tariffs and government initiatives such as the PM Surya Ghar scheme. SolarSquare estimates that India has around 70 million viable residential rooftops, while rooftop solar penetration remains below 5%.

SolarSquare had raised $40 million in a Series B round in December 2024 led by Lightspeed, with participation from Lightrock, Elevation Capital, Lowercarbon Capital, Rainmatter, and Gruhas Proptech.

SolarSquare competes with players such as ZunRoof, Glow Solar, Mysun, Oorjan Cleantech, and Freyr Energy in the residential rooftop solar segment. The company has sought to differentiate itself through its vertically integrated model, technology platform, and performance guarantees for customers.



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