Funding · Climate, Energy & Sustainability

SolarSquare raises $53m in Series C funding round

By Startup Enthusiast · 21 July 2026

What they do

SolarSquare installs rooftop solar systems for homes and businesses across India

The company raised $53 million in a Series C round led by B Capital and Lightspeed

MS Dhoni invested via his family office Midas Deals and became the brand ambassador

SolarSquare has announced a $53 million Series C funding round.
The investment was led by B Capital according to one source.
Another source states that existing investor Lightspeed led the round.
MS Dhoni participated in the deal through his family office Midas Deals.
Dhoni was also appointed as the company's new brand ambassador.
Other investors include Lowercarbon Capital, Rainmatter by Zerodha, and Good Capital.
Elevation Capital and NGP Capital also participated in this round.
This brings SolarSquare's total capital raised to over $100 million.

The market is driven by rising electricity costs and government subsidies like the PM Surya Ghar scheme.
India has approximately 70 million homes suitable for rooftop solar installations.
The cleantech sector projects a $152 billion opportunity by 2030.
SolarSquare aims to expand into 30-40 new cities using these funds.

Founded in 2015, SolarSquare is headquartered in Mumbai.
It initially focused on commercial and industrial customers before entering residential markets in 2021.
The company provides consultation, design, installation, financing, monitoring, and maintenance services.
It has completed more than 50,000 home installations so far.
Operations currently cover 29 cities across 9 Indian states.
The company reports an Annual Revenue Run Rate (ARR) of approximately ₹1,000 Crore.
Plans include strengthening technology platforms and ramping up hiring efforts.
Future services will expand to include battery storage and home-energy management.

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