Indian rooftop solar company SolarSquare is reportedly in advanced discussions to secure up to $60 million in fresh investment as investor confidence in India’s renewable energy market continues to rise. The funding round is expected to be led by major venture capital firms including Lightspeed Venture Partners and B Capital, potentially valuing the startup at nearly half a billion dollars.

The development highlights the rapid growth of India’s residential solar industry as the country intensifies efforts to expand renewable energy production. India has set ambitious goals to achieve 500 gigawatts of renewable energy capacity by 2030, with solar energy expected to account for a significant share of that target.
Government incentives and subsidy programs have also encouraged wider adoption of rooftop solar systems across households and housing communities.

Founded in 2015 and headquartered in Mumbai, SolarSquare provides end-to-end rooftop solar solutions for homes, housing societies, and commercial enterprises. The company handles system design, installation, and maintenance while operating across multiple Indian cities and states. Reports indicate that the startup has already powered tens of thousands of homes and several hundred housing societies.

SolarSquare has increasingly focused on residential customers after reducing its involvement in lower-margin industrial projects. Industry sources suggest that household solar adoption is now driving the majority of the company’s business growth, reflecting broader changes in India’s clean energy market.

The company is also believed to have surpassed significant revenue milestones while expanding its installed solar capacity across urban regions. In addition to residential customers, SolarSquare has reportedly provided rooftop solar systems for major Indian businesses including food delivery and technology companies.

Analysts believe the growing investor interest in SolarSquare reflects broader confidence in India’s transition toward clean energy infrastructure. As energy demand rises and sustainability becomes a national priority, rooftop solar providers are increasingly attracting large-scale venture capital investment across the country.

Source: TechCrunch