B Capital Leads Series C Round as Residential Solar Startup Crosses $100 Million in Total Funding
Residential solar startup SolarSquare has raised $53 million in a Series C funding round led by B Capital, with participation from existing investors Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter, and Good Capital.
With the latest investment, SolarSquare’s total funding has now surpassed $100 million, underscoring growing investor confidence in India’s rapidly expanding residential solar market.
The funding comes at a time when rooftop solar adoption is gaining momentum across the country, driven by rising electricity costs, increasing awareness of clean energy solutions, and government-backed initiatives aimed at boosting renewable energy adoption among households.
Capital to Fuel Expansion and Product Growth
Founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, SolarSquare offers end-to-end rooftop solar solutions for homeowners, covering consultation, system design, installation, financing assistance, and long-term maintenance.
According to the company, the newly raised capital will be used to expand into new cities, strengthen its technology platform, hire talent, and scale its broader home energy ecosystem.
The startup is also looking to expand offerings beyond rooftop solar by investing in battery storage solutions, energy management systems, and solar financing products, helping homeowners reduce electricity costs while increasing energy independence.
The funding positions SolarSquare to capitalize on what many industry experts see as India’s next major clean energy opportunity.
Residential Solar Market Reaches Inflection Point
Commenting on the funding, Co-founder and CEO Shreya Mishra highlighted the rapid growth of India’s residential solar sector.
“Five years ago, we made a conviction-led bet that every Indian home will be powered by rooftop solar. At the time, residential solar was still very nascent, with barely one lakh homes going solar per year. Today, the category has inflected with one lakh homes adopting solar every ten days in India,” she said.
The company estimates that India currently has nearly 70 million viable residential rooftops, while rooftop solar penetration remains below 5%, indicating significant room for future growth.
Government programs such as the PM Surya Ghar Scheme have further accelerated adoption by offering subsidies and incentives to homeowners installing rooftop solar systems.
Strong Growth and Market Leadership
SolarSquare claims to have powered more than 50,000 homes across India and currently operates at an annual revenue run rate exceeding ₹1,000 crore.
The company also says it manages India’s largest portfolio of residential solar assets and was the first player in the country to introduce performance guarantees for rooftop solar installations.
Competition in the sector continues to intensify, with companies such as ZunRoof, Glow Solar, Mysun, Oorjan Cleantech, and Freyr Energy targeting the growing residential market. However, SolarSquare has differentiated itself through its vertically integrated model, technology-led operations, and customer-centric approach.
As India accelerates its renewable energy transition, SolarSquare is positioning itself as a key player in bringing clean, affordable energy to millions of households across the country.