Key facts
- SolarSquare Energy secured $50-55 million in a funding round led by B Capital.
- The company's valuation reached $450-500 million.
- Lightspeed Venture Partners and Elevation Capital also participated in the round.
- SolarSquare's annualised revenue run rate is approximately Rs 800-1,000 crore.
- The government's PM Surya Ghar Muft Bijli Yojana aims to install rooftop solar in one crore households by March 2027.
Mumbai-based rooftop solar startup SolarSquare Energy has secured $50-55 million in a new funding round, with B Capital leading the investment. The round values the company at $450-500 million, a significant increase from its previous valuation. Lightspeed Venture Partners and Elevation Capital, existing investors, also participated in the round.
SolarSquare is currently reporting an annualised revenue run rate of Rs 800-1,000 crore. In fiscal year 2025, the company's operating revenue reached Rs 355 crore, doubling from the previous year. This latest funding comes approximately 18 months after SolarSquare raised $40 million in a round led by Lightspeed.
Founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, SolarSquare initially operated as a business-to-business solar company before shifting its focus to residential rooftop solar in 2021. The company specializes in designing, installing, and maintaining rooftop solar systems for homes and housing societies, also assisting customers with financing options.
The investment highlights a growing investor interest in full-stack rooftop solar platforms, driven by government initiatives like the PM Surya Ghar Muft Bijli Yojana, which aims to promote rooftop solar adoption in one crore households by March 2027 with substantial subsidies. As of December 2025, over 25 lakh households had already installed rooftop solar under this scheme.
Startups like SolarSquare are aiming to organize the fragmented residential solar market by building consumer-facing brands that emphasize installation quality, financing support, and maintenance services. The company competes with other players in the sector such as Zunroof, Mysun, and Adani Solar. This funding round occurs at a time when climate-tech investment in India remains selective, favoring companies with visible revenue scale and strong policy tailwinds.