SolarSquare Eyes $500M Valuation in New Funding

SolarSquare, an Indian startup focused on residential and housing society solar power adoption, is reportedly in advanced discussions to secure significant new funding. The Series C round, co-led by B Capital and Lightspeed Venture Partners, is expected to raise between $55 million and $60 million. This investment could bring SolarSquare's valuation to approximately $450 million to $500 million.

This potential funding marks a substantial increase in valuation for SolarSquare, more than doubling its worth in about 18 months. The company previously raised $40 million in December 2024, led by Lightspeed Venture Partners. Existing investor Elevation Capital is also anticipated to join this new financing round, which is projected to close next month.

India is aggressively pursuing its renewable energy targets, aiming for 500 gigawatts of capacity by 2030, with solar power playing a dominant role. As the world's third-largest solar power producer, the country has seen a remarkable surge in installed solar capacity. SolarSquare, founded in 2015, operates as a comprehensive rooftop solar platform, designing, installing, and maintaining systems for homes, housing societies, and businesses across 29 cities.