SolarSquare, one of India’s leading residential rooftop solar companies, has raised $53 million in a Series C funding round, marking one of the largest venture capital investments in the country’s home solar sector.
The funding round was led by B Capital, with existing investor Lightspeed increasing its investment. Existing backers including Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha, and Good Capital also participated in the round.
With this latest investment, SolarSquare’s total funding has crossed $100 million.
The company plans to use the capital to expand into new cities, strengthen its technology platform, increase hiring, and scale its operations as it works towards building a major home energy solutions brand in India.
Founded in 2015 by Neeraj Jain, Nikhil Nahar, and Shreya Mishra, SolarSquare has focused on building India’s residential solar market. The company has installed rooftop solar systems for nearly 50,000 homes and currently operates at an annual revenue run rate of more than ₹1,000 crore.
Residential Solar Market Gains Momentum
The funding comes as India’s rooftop solar sector sees rapid growth, driven by rising electricity costs, increasing household energy consumption and government support for renewable energy adoption.
The Centre’s PM Surya Ghar initiative has further increased awareness among consumers and encouraged more households to consider rooftop solar solutions.
“Five years ago, we believed every Indian home would eventually adopt rooftop solar. Today, adoption is accelerating rapidly,” said Shreya Mishra, Co-founder and CEO, SolarSquare.
The company aims to develop a complete home energy ecosystem covering solar installation, maintenance services, financing support, battery storage solutions and energy management technologies.
Building a Full-Stack Solar Platform
SolarSquare follows a vertically integrated business model, managing the entire customer journey from system design and installation to after-sales service and long-term maintenance.
The company also provides performance guarantees for residential solar systems, addressing concerns around reliability and service quality in India’s fragmented rooftop solar market.
Its technology platform manages a large portfolio of residential solar installations, helping customers monitor performance and improve energy efficiency.
Investor Confidence in India’s Energy Transition
B Capital said its investment reflects growing confidence in India’s decentralised energy transition and the increasing role of residential solar in reducing dependence on traditional power sources.
Lightspeed India also increased its investment, highlighting SolarSquare’s execution, full-stack model and focus on customer trust.
India has an estimated 70 million potential residential rooftops suitable for solar installations, while rooftop solar adoption remains at an early stage compared with markets such as Australia and Germany.
With rising demand, policy support and increasing investor interest, SolarSquare’s latest funding highlights the growing opportunity in India’s residential clean energy market.
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