Funding · Climate, Energy & Sustainability

SolarSquare in talks to raise $55-60M Series C

What they do

SolarSquare designs, installs and maintains rooftop solar systems for homes and housing societies

It is raising a $55-60M Series C at a $450-500M valuation, co-led by B Capital and Lightspeed

The company's valuation has doubled in about 18 months, reflecting strong demand for residential solar in India

SolarSquare is in advanced talks to raise a Series C round of $55M to $60M.
The round is expected to close next month.
The post-money valuation is between $450M and $500M.
B Capital and Lightspeed Venture Partners (growth fund) are co-leading the round.
Existing investor Elevation Capital is expected to participate.
The company's valuation has doubled in about 18 months.
SolarSquare previously raised a $40M Series B at a ~$200M valuation in December 2024, led by Lightspeed.

India aims to reach 500 GW of renewable energy capacity by 2030, with solar expected to contribute more than half.
India became the world's third-largest solar power producer in 2025, after China and the US.
India's cumulative installed solar capacity grew from ~3 GW in 2014 to over 150 GW in 2026.
The residential solar market is fragmented, dominated by small local installers and dealer networks tied to Tata Power, Waaree Energies, Luminous Power Technologies, and Exide Industries.

SolarSquare is a full-stack residential solar platform that designs, installs, and maintains rooftop solar systems for homes, housing societies, and enterprises.
It has installed over 150 MW of solar capacity.
It operates in 29 cities across 9 states.
It powers nearly 50,000 homes and serves around 400 housing societies.
Enterprise customers include Swiggy, Zepto, and iD Fresh Food.
Its annualized revenue run rate from homes and housing societies is over ₹10B (~$104M).
Residential customers and housing societies now make up the majority of its business; it has scaled back lower-margin industrial rooftop projects.

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