SolarSquare in talks to raise up to $60M as India's rooftop solar market draws major VC interest
Original: SolarSquare in talks to raise up to $60M as India’s rooftop solar market draws major VC interest
Why This Matters
Highlights massive investor interest in India's rapidly growing residential solar market
Indian rooftop solar startup SolarSquare is in advanced talks to raise $55-60 million in Series C funding led by B Capital and Lightspeed Venture Partners, valuing the company at $450-500 million, more than doubling its valuation from December 2024.
Mumbai-based SolarSquare, founded in 2015, provides full-stack residential solar solutions including design, installation and maintenance for homes and housing societies. The company has installed over 150 megawatts of solar capacity across 29 cities in nine states, powering nearly 50,000 homes and 400 housing societies. Lightspeed previously led SolarSquare's $40 million Series B at around $200 million valuation in December 2024. India aims for 500 gigawatts of renewable energy by 2030, with solar contributing over half. The country's solar capacity surged from 3 GW in 2014 to over 150 GW in 2026, making it the world's third-largest solar producer after China and the US.