Mumbai-based rooftop solar company SolarSquare Energy has raised $50-55 million in a funding round led by B Capital. The investment values the company at approximately $450-500 million, marking a significant increase from its previous valuation.
The funding comes around 18 months after SolarSquare secured $40 million in a Series B round led by Lightspeed Venture Partners. Existing investors including Lightrock, Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech had also participated in that round.
SolarSquare has reported strong business growth over the past year. The company is currently operating at an annualised revenue run rate of approximately Rs 800-1,000 crore. In FY25, its operating revenue reached Rs 355 crore, nearly double the revenue recorded in the previous fiscal year.
The latest investment highlights growing investor interest in India's residential rooftop solar sector. Demand has increased following government efforts to expand solar adoption among households.
A major driver of growth in the sector is the PM Surya Ghar Muft Bijli Yojana. The programme aims to support rooftop solar installations in one crore households by March 2027.
Under the scheme, eligible consumers can receive subsidies of up to Rs 78,000. The government has allocated Rs 75,021 crore for the initiative. According to official data, rooftop solar installations under the programme crossed 25 lakh households by December 2025.
As adoption increases, investors are looking at companies that can simplify the installation process and improve customer experience.
India's residential solar market remains highly fragmented. Many installations are still handled by local operators, resulting in varying service standards and after-sales support.
SolarSquare focuses on offering end-to-end rooftop solar services, including installation, financing assistance, and maintenance. The company competes with players such as ZunRoof, MySun, and Adani Solar in the residential segment.
Founded in 2015, SolarSquare is led by co-founders Shreya Mishra, Neeraj Jain, and Nikhil Nahar. The company has expanded its presence by building a consumer-focused brand in the rooftop solar market.
The funding round comes at a time when climate-tech investments in India have become more selective. Investors are increasingly backing companies that demonstrate revenue growth, operational scale, and alignment with government-led clean energy initiatives.
For SolarSquare, the fresh capital is expected to support further expansion as residential solar adoption continues to grow across the country.
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