The investment will support expansion, hiring, and better services for customers across the country.
Funding Round Pushes Total Capital Raised Beyond $100 Million
Residential solar startup SolarSquare has raised $53 million in a Series C funding round led by B Capital, with participation from existing investor Lightspeed and several returning backers.
The round also saw participation from Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha, and Good Capital. With this latest investment, SolarSquare’s total funding has crossed the $100 million mark.
The company plans to use the fresh capital to expand into new cities, strengthen its technology platform, hire talent, and enhance customer experience as demand for residential solar solutions continues to grow across India.
Betting on India’s Rooftop Solar Opportunity
Founded in 2015 by Neeraj Jain, Nikhil Nahar, and Shreya Mishra, SolarSquare operates as a full-stack residential solar platform that manages the entire customer journey.
Its services include consultation, system design, installation, financing assistance, monitoring, and long-term maintenance. The company has positioned itself as an organized player in a market that has traditionally been fragmented and dominated by local installers.
According to the company, it has served nearly 50,000 households across India and currently operates at an annual revenue run rate exceeding Rs 1,000 crore.
Riding the Residential Solar Boom
The investment comes at a time when rooftop solar adoption is accelerating rapidly across India.
Shreya Mishra, Co-founder and CEO of SolarSquare, said the company entered the residential solar segment when the market was still in its early stages.
“Five years ago, we made a conviction-led bet that every Indian home would eventually be powered by rooftop solar. At that time, residential solar adoption was limited, with barely one lakh homes installing solar annually. Today, nearly one lakh homes are adopting solar every ten days across India,” she said.
Mishra added that the company aims to build a comprehensive home energy platform that extends beyond solar installations.
The long-term vision includes solar systems, battery storage solutions, financing products, after-sales services, and home energy management tools designed to help households reduce energy costs and become more energy independent.
Investors See Long-Term Opportunity
Investors backing the company believe India’s clean energy transition will increasingly be driven by residential adoption rather than utility-scale projects alone.
Karan Mohla, General Partner at B Capital, said the firm’s investment reflects confidence in SolarSquare’s leadership position within the residential solar market.
“India’s energy transition will not be won on the grid alone. It will be won home by home and city by city. SolarSquare has built strong unit economics, technology capabilities, and an operating model that positions it well for long-term growth,” he said.
Lightspeed, which participated in the company’s previous funding rounds, also increased its commitment.
Rahul Taneja, Partner at Lightspeed India, said the firm’s continued support is based on SolarSquare’s ability to build trust among homeowners through a full-stack operating model and strong execution.
Growing Demand for Home Energy Solutions
India’s push toward renewable energy, combined with rising electricity costs and government incentives for rooftop solar installations, has created favorable conditions for residential solar companies.
As more homeowners look for ways to lower energy bills and improve energy reliability, companies offering end-to-end solutions are expected to benefit from increasing demand.
SolarSquare’s latest funding round positions the company to capitalize on that opportunity while expanding its presence in one of the world’s fastest-growing clean energy markets.
With fresh capital, a growing customer base, and increasing market adoption, the company is aiming to play a larger role in India’s transition toward distributed renewable energy and home-based power generation.
SolarSquare co-founders Neeraj Jain, Shreya Mishra, and Nikhil Nahar
Source: ISN
