SolarSquare in talks to raise up to $60M as India’s rooftop solar market draws major VC interest
SolarSquare, an Indian rooftop solar startup, is in advanced talks to raise up to $60 million in a Series C funding round. The investment could double the company's valuation to between $450 million and $500 million, reflecting growing investor interest in India's residential solar market. Founded in 2015, SolarSquare has installed over 150 megawatts of solar capacity and aims to expand its residential portfolio significantly this year.
- ▪SolarSquare is seeking to raise $55 million to $60 million in a Series C funding round.
- ▪The startup's valuation could reach between $450 million and $500 million, more than doubling in 18 months.
- ▪SolarSquare has installed over 150 megawatts of solar capacity across 29 cities in India.
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SolarSquare, an Indian rooftop solar startup that helps households and housing societies adopt solar power, is in advanced talks to raise fresh capital after securing India’s largest solar venture investment in December 2024, TechCrunch has learned. B Capital and Lightspeed Venture Partners are set to co-lead the Series C round, which could value SolarSquare at between $450 million and $500 million and bring in $55 million to $60 million in new investment, according to multiple people familiar with the matter. That would represent more than a doubling of SolarSquare’s valuation in roughly 18 months — a sign of how rapidly investor conviction is building around India’s residential solar market.
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