SolarSquare Eyes $60M Raise as India’s Rooftop Solar Startup Boom Heats Up
India’s residential solar sector is pulling in serious venture capital attention, and SolarSquare is right at the centre of it. The Mumbai-headquartered rooftop solar startup is in advanced talks to raise between $55 million and $60 million in a Series C round, according to TechCrunch, which first reported the deal.
A Valuation That Has More Than Doubled in 18 Months
B Capital and Lightspeed Venture Partners are set to co-lead the round, which would value SolarSquare at between $450 million and $500 million. That figure represents more than double the roughly $200 million post-money valuation the company carried after its $40 million Series B in December 2024, making the pace of SolarSquare India rooftop solar funding growth a striking signal for the clean energy market. Existing backer Elevation Capital also expected to participate. The deal anticipated to close next month, though terms remain subject to change.
Founded in 2015, SolarSquare operates as a full-stack platform designing, installing, and maintaining solar systems for homes, housing societies, and enterprises. It has installed more than 150 megawatts of capacity across 29 cities in nine states, powering nearly 50,000 homes and around 400 housing societies. Enterprise clients include Swiggy and Zepto. The startup has crossed an annualized revenue run rate of over ₹10 billion roughly $104 million and is targeting 200 megawatts in its residential portfolio this year.
The wider backdrop is compelling. India became the world’s third-largest solar power producer in 2025, with cumulative installed capacity now exceeding 150 GW up from just 3 GW in 2014. The country has set a 500 GW renewable energy target for 2030, with solar expected to account for more than half. Against that backdrop, SolarSquare India rooftop solar funding is arriving at a moment when government incentives are actively accelerating household adoption across urban India.
