SolarSquare Raises $53M to Power India's Solar Homes

Imagine powering your entire home with sunshine and never worrying about rising electricity bills again. That future just got closer for millions of Indian families.

SolarSquare, a Mumbai-based company that installs rooftop solar panels on homes, raised $53 million to expand across India. The funding round was led by B Capital, with support from existing investors including Lightspeed and Elevation Capital.

Since launching in 2015, SolarSquare has already powered 50,000 homes across the country. The company handles everything from consultation and design to installation and maintenance, removing the headache from going solar.

Co-founder Shreya Mishra says their early bet is paying off. "Five years ago, we made a conviction-led bet that every Indian home will be powered by rooftop solar," she explains.

The timing couldn't be better. Government programs like PM Surya Ghar Muft Bijli Yojana now offer subsidies for rooftop solar, making it more affordable for average families.

A typical solar system costs between Rs 2 lakh to Rs 4 lakh for urban households. SolarSquare became the first company in India's residential solar market to guarantee performance, promising customers specific energy output and financial returns.

The Ripple Effect

India has roughly 70 million residential rooftops suitable for solar panels. Less than 5% currently use solar power, compared to 35% in Australia and 15% in Germany.

That massive gap represents an opportunity to transform how an entire nation powers its homes. Every rooftop that goes solar means cleaner air for neighborhoods, lower energy costs for families, and reduced strain on India's power grid.

The company plans to use the fresh funding to expand into new cities, strengthen its technology platform, and build what Mishra calls the "operating system" for India's energy transition. That includes not just solar installations, but also financing options, battery storage, and home energy management tools.

Partner Rahul Taneja from Lightspeed says trust will determine who wins India's residential solar market. SolarSquare has built that trust through its comprehensive approach and performance guarantees.

B Capital's Karan Mohla believes India's energy transformation will happen "home by home, city by city." With over $100 million in total funding now, SolarSquare is positioned to lead that change across the country.