SolarSquare's Series C Funding Success

Mumbai-based SolarSquare, a company specializing in end-to-end residential rooftop solar solutions, has successfully raised $53 million in a Series C funding round. This round was led by B Capital, with participation from existing investors including Lightspeed, Elevation Capital, Lowercarbon, Rainmatter by Zerodha, and Good Capital.

Company Background

Founded in 2015 by Nikhil Nahar and Shreya Mishra, SolarSquare offers a comprehensive range of services for residential solar energy systems. These services include system design, installation, financing options, and maintenance. The company is also known for providing cyclone-proof installations and expert maintenance, along with 0 EMI plans for customers. SolarSquare's solutions have already powered approximately 50,000 homes across India.

Strategic Use of Funds

The newly acquired $53 million will primarily be used for several strategic initiatives:

  • Geographical Expansion: SolarSquare plans to extend its services into new cities across India. The company is already present in major cities like Bengaluru, Delhi, and Hyderabad, as well as in states such as Gujarat, Madhya Pradesh, and Maharashtra.
  • Technology Enhancement: Part of the funding will go towards strengthening the company's technology platform to enhance customer experience and operational efficiency.
  • Talent Acquisition: SolarSquare aims to hire additional talent to support its growing operations and service offerings.
  • Business Scaling: The funds will also help scale its residential energy business, with plans to venture into financing, battery storage, and home energy management solutions.

Leadership Insights

Co-founder Shreya Mishra highlighted the company's future direction, stating, "We are excited to expand our reach and enhance our technology to better serve our customers across India." The company operates a vertically integrated model that manages the entire customer journey, from consultation to maintenance, offering performance guarantees for their solar systems.

Industry Context

The move comes at a time when corporate funding in the solar sector has seen significant growth, with $11.1 billion raised across 53 deals in the first quarter of 2026, reflecting a 131% increase from the previous year. SolarSquare's successful Series C round positions it well to capitalize on this momentum in the renewable energy sector.

With this latest funding, SolarSquare is poised to further solidify its position in the Indian solar market, leveraging its comprehensive service offerings and strategic investments to drive growth and innovation.