SolarSquare Raises $53M Funding

SolarSquare, an Indian residential rooftop solar company, has successfully raised $53 million in a Series C funding round. This round was led by B Capital Group, with participation from existing investors including Lightspeed Venture Partners, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha, and Good Capital, bringing SolarSquare's total funding to over $100 million. The company plans to utilize this capital for geographic expansion across India, enhancing its technology platform, hiring new talent, and scaling its operations to become a leading home-energy brand. This investment comes at a time when India's residential solar market is experiencing rapid growth, supported by government initiatives like the PM Surya Ghar Muft Bijli Yojana, which offers subsidies for rooftop solar installations. SolarSquare, co-founded by Neeraj Jain, Nikhil Nahar, and Shreya Mishra, has already powered approximately 50,000 homes and operates with an annual revenue run rate exceeding INR 1,000 crore. The company's vertically integrated model and performance guarantees are key differentiators in the market.