Funding · Climate, Energy & Sustainability
SolarSquare raises ₹100 crore in Series A round
By Startup Enthusiast ·
- Date
- Company
- SolarSquare
- What it does
- Home solar installation and financing
- Kind
- Funding
- Amount
- ₹100 crore ($12 million)
- Stage
- Series A
- Founded
- 2015
What they do
SolarSquare designs, installs, and finances home solar systems for Indian homes
What happened
It raised ₹100 crore ($12 million) in Series A led by Elevation Capital and Lowercarbon Capital
Why it matters
The company plans to obtain an NBFC licence to offer embedded solar financing
The details
- SolarSquare raised ₹100 crore ($12 million) in a Series A round.
- The round was led by Elevation Capital and Lowercarbon Capital.
- Existing investors Good Capital and Rainmatter also participated.
- Angel investors Vidit Atrey and Sanjeev Barnwal (Meesho founders) joined the round.
- The post-allotment valuation is around ₹420 crore ($52 million).
- The company had raised a $4 million seed round in June 2022 led by Good Capital.
The bigger picture
- SolarSquare aims to accelerate mass adoption of rooftop solar among Indian homes.
- It claims to have solarised close to 5,000 homes so far.
- The company plans to strengthen embedded solar financing by obtaining an NBFC licence.
- It also plans to develop a consumer app for monitoring solar generation and back-end dashboards.
About the business
- SolarSquare is a B2C home-energy startup that designs, installs, and finances home solar systems.
- It provides modular and prefabricated installation designs that can be installed within 8 hours (industry standard 3–5 days).
- It also offers rooftop solar solutions for housing societies and commercial establishments.
- B2B clients include Jindal Steel, Unilever, Panasonic, Reliance, and Johnson & Johnson.
- Current operations are in Bengaluru, Delhi, Gujarat, Hyderabad, Madhya Pradesh, and Maharashtra.
What happens next
- Strengthen embedded solar financing by obtaining an NBFC licence.
- Develop a consumer app for monitoring solar generation, back-end dashboards, and merchant-side apps.
- Expand pan-India in the next 18–24 months.
The deal
- Type
- Series A
Investors
- Elevation Capital (lead) — Venture capital firm focused on Indian startups.
- Lowercarbon Capital (lead) — Climate-tech fund founded by Chris Sacca.
- Good Capital (participated) — Existing investor; led the seed round.
- Rainmatter (participated) — Existing investor.
- Vidit Atrey (angel) — Co-founder of Meesho.
- Sanjeev Barnwal (angel) — Co-founder of Meesho.
Founders
- Shreya Mishra, founder & CEO
- Neeraj Jain, founder
- Nikhil Nahar, founder
About SolarSquare
- Product
- End-to-end rooftop solar solutions including consultation, installation, financing, monitoring and after-sales support
- Customers
- Residential homeowners seeking to install rooftop solar systems
- How it makes money
- B2C solar solutions provider with financing options and recurring monitoring revenue
- What sets it apart
- Installed systems in 50,000+ homes across 29 cities with technology platform and financing partnerships
Other articles talking about it
More on SolarSquare
- SolarSquare raises ₹100 crore Series A21 September 2026 · Funding · ₹100 Cr
- SolarSquare raises $53m in Series C funding round21 July 2026 · Funding · $53 million
- SolarSquare raises $53 million in Series C led by B Capital3 July 2026 · Funding · $53M
- SolarSquare raises $53 million in Series C funding16 June 2026 · Funding · $53 million
- SolarSquare in talks to raise $55-60M Series C23 May 2026 · Funding · $55M to $60M
- SolarSquare plans 30 new cities, eyes international expansion27 June 2025 · Launch · $40 million
- SolarSquare reports Rs 69 crore loss in FY2421 February 2025 · Results
- SolarSquare raises $40 million Series B12 December 2024 · Funding · $40 million