Funding · Climate, Energy & Sustainability

SolarSquare raises $53 million in Series C funding

By Startup Enthusiast · 16 June 2026

What they do

SolarSquare designs and installs residential rooftop solar systems with performance guarantees

The company raised $53 million led by B Capital to expand operations and tech development

Revenue reached ₹350 crore in FY25 as India's residential solar market remains underpenetrated

SolarSquare has raised $53 million in a Series C funding round on 16 Jun 2026.
B Capital led the investment while existing investors like Lightspeed doubled down.
The total capital raised now exceeds $100 million for the clean energy startup.
Investors include Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha, and Good Capital.
The company aims to use funds for expansion into new cities and technology development.
Founders plan an IPO likely within the next 3-5 years.
SolarSquare currently powers approximately 50,000 homes across 20 cities in India.
The firm operates exclusively in the residential rooftop solar segment without floating solar plans.

India has 70 million viable residential rooftops but penetration remains below 5%.
This compares sharply to 35% in Australia and 15% in Germany.
Industry trends show 1 lakh homes adopting solar every 10 days in India.
Rising electricity tariffs and the PM Surya Ghar scheme drive consumer adoption.
EV and AC adoption further increases demand for reliable residential power solutions.

SolarSquare offers vertically integrated residential rooftop solar design and installation services.
The company provides financing options and ongoing maintenance for installed solar systems.
It is the first in India to offer performance guarantees on residential solar setups.
A proprietary platform enables real-time monitoring of power generation and maintenance tasks.
Current operations cover 20 cities serving around 400 housing societies.
Revenue grew to ₹350 crore in FY25 from ₹170 crore in FY24.
Annualised run rate now exceeds ₹1,000 crore according to recent reports.
The company runs battery pilot programs with approximately 100 customers.

B Capital (lead) — Global venture capital firm focused on climate and technology investments.
Lightspeed (co-lead) — Venture capital firm that increased its commitment in this round.
Elevation Capital (participated) — Existing investor continuing support for the company's growth.
Lowercarbon Capital (participated) — Climate-focused fund investing in decarbonization technologies.
Rainmatter by Zerodha (participated) — Venture debt and equity arm of Indian broker Zerodha.
Good Capital (participated) — Impact investment firm supporting sustainable business models.

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