B Capital leads SolarSquare Energy’s Series C funding round
Mumbai-based renewable energy platform SolarSquare Energy has raised $53 million (about Rs 500 crore) in a Series C round led by B Capital. Existing backers Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha, and Good Capital also participated, increasing their stakes in the company.
How the new capital will be used
SolarSquare plans to deploy the funds to accelerate expansion into new cities, strengthen its technology stack, recruit talent across functions, and further scale its full-stack platform for residential solar.
Why investors are bullish
“India’s energy transition will not be won on the grid alone, it will be won home by home, city by city,” said Karan Mohla, general partner at B Capital. “At B Capital, we’ve studied residential energy across markets for years, and SolarSquare combines category leadership, best-in-class unit economics, and a proprietary technology and asset-management layer that compounds with every install.”
What SolarSquare does
Founded in 2015 by Neeraj Jain and Nikhil Nahar and joined by Shreya Mishra in 2020, SolarSquare designs, installs, and finances rooftop solar systems for homes. Operating as a full-stack home energy platform, it manages the entire customer journey—consultation, system design, installation, financing support, and long-term maintenance.
Scale and momentum
The company has grown into one of India’s largest residential rooftop solar brands, powering about 50,000 homes nationwide. It is currently operating at an annual run-rate exceeding Rs 1,000 crore.
Vision for India’s home energy transition
“Five years ago, we made a conviction-led bet that every Indian home will be powered by rooftop solar. Today, the category has inflected with one lakh homes adopting solar every 10 days in India,” said Shreya Mishra, co-founder and chief executive of SolarSquare. “We want to build the operating system for this energy transition in India—with solar installation solutions, after-sales, financing, battery solutions, and home energy management. This capital will allow us to accelerate that vision.”
Funding history
The Series C follows a $40 million (Rs 340 crore) Series B round led by Lightspeed in December 2024. Earlier, SolarSquare raised $12 million in its Series A co-led by Elevation Capital and Lowercarbon Capital, after a $4 million seed round in June 2022 led by Good Capital with participation from Lowercarbon Capital, Symphony Asia, and Rainmatter.
