SolarSquare raises $53 million in Series C round led by B Capital
Existing investors Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also participated in the round.
June 16, 2026 / 09:08 IST
SolarSquare founders Neeraj Jain, Shreya Mishra and Nikhil Nahar
Residential rooftop solar company SolarSquare has raised $53 million in a Series C funding round led by B Capital, with existing investor Lightspeed doubling down on the company. Others like Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also participated.
The latest fundraise takes the company's total capital raised to over $100 million. SolarSquare said the proceeds will be used to expand into new cities, strengthen its technology platform, hire talent and scale operations.
The company, founded by Neeraj Jain, Shreya Mishra and Nikhil Nahar, said it is India's largest residential rooftop solar player. It has installed solar systems across about 50,000 homes and is currently operating at an annual revenue run rate of more than Rs 1,000 crore.
The current round also marks the largest venture investment in India’s solar sector, the company said.
The funding comes amid growing investor interest in the residential rooftop solar segment, helped by rising electricity tariffs and the Centre's PM Surya Ghar scheme, which offers subsidies for rooftop solar installations.
"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 1 lakh homes going solar per year. Today, the category has inflected with 1 lakh homes adopting solar every 10 days in India," said Shreya Mishra, co-founder and CEO of SolarSquare.
She added that the company aims to build a broader home-energy platform spanning solar installations, after-sales services, financing, battery solutions and home energy management.
SolarSquare operates a full-stack model, handling consultation, design, installation, financing support and maintenance. The company said it is the first residential solar player in India to offer performance guarantees to customers. It also claims to manage the country's largest portfolio of residential solar assets.
Karan Mohla, General Partner at B Capital, said residential energy adoption in India is expected to benefit from the country's push towards energy independence.
"SolarSquare combines category leadership, best-in-class unit economics, and a proprietary technology and asset-management layer that compounds with every install. India's drive toward energy independence is a once-in-a-generation tailwind, and we believe SolarSquare is well positioned to become a leading national brand in the category," Mohla said.
Lightspeed, an existing investor, also increased its commitment in the round.
"We backed SolarSquare on the belief that trust would decide who wins residential solar in India. Since our Series B, they've proven it through their full-stack model, performance guarantee plans and operating discipline. We remain strong believers and have doubled down in this round," said Rahul Taneja, Partner at Lightspeed India.
According to the company, India has around 70 million residential rooftops suitable for solar installations, while rooftop solar penetration remains below 5 percent, compared with about 35 percent in Australia and 15 percent in Germany.
