SolarSquare Raises USD 53 Mn in Series C Round Led by B Capital to Expand Residential Solar Business
SolarSquare has raised USD 53 million in a Series C funding round led by B Capital to expand into new cities, strengthen technology capabilities and scale its residential solar platform, taking its total capital raised to over USD 100 million.
June 16, 2026. By Mrinmoy Dey
The fresh capital will be deployed to accelerate geographic expansion into new cities, deepen SolarSquare’s technology capabilities, hire talent and scale the platform to capitalise on this generational opportunity to become India’s most trusted new age home-energy brand, stated the company.
Founded by Neeraj Jain, Nikhil Nahar and Shreya Mishra in 2015, the company has powered about 50,000 homes across the country and currently run-rating over 1000 crore in revenues.
The timing of the raise reflects a fundamental shift in how Indian homeowners are thinking about energy. India’s electricity tariffs have been climbing steadily, and investment in residential solar breaks even in less than 5 years across India. Rising electricity costs, a volatile global environment and India’s growing energy needs are all converging to decentralised rooftop solar as the answer, benefitting consumers and the country, stated the company.
The central government’s PM Surya Ghar scheme has seeded consumer awareness at a scale no marketing budget could replicate.
Shreya Mishra, Co-Founder and CEO, SolarSquare, said, “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. And, we want to build the operating system for this energy transition in India – with solar installation solutions, after-sales, financing, battery solutions, and home energy management. This capital will allow us to accelerate that vision.”
SolarSquare operates as a full-stack home energy platform. The company manages the entire customer journey: from initial consultation and system design to installation, financing support, and long-term maintenance. Rooftop solar requires a capital commitment of anywhere between INR 2–4 lakh for a typical urban household. That kind of decision demands trust, transparency, and reliable after-sales support. SolarSquare’s integrated model is built precisely around that insight, asserted the company.
B Capital anchoring the round brings deep global pattern-recognition to a market that has often been underestimated. The continued conviction of Lightspeed and Lowercarbon Capital, alongside Elevation Capital and Rainmatter by Zerodha, reflects a rare alignment of international climate capital and India-native consumer investment conviction behind a single platform, stated the company.
Karan Mohla, General Partner, B Capital, remarked, “India's energy transition will not be won on the grid alone; it will be won home by home, city by city. At B Capital, we've studied residential energy across markets for years, and SolarSquare combines category leadership, best-in-class unit economics, and a proprietary technology and asset-management layer that compounds with every install. What drew us in is the quality and tenure of the founders, a team that has spent a decade patiently building category infrastructure and layering in future growth levers in financing and battery storage. India's drive toward energy independence is a once-in-a-generation tailwind, and we believe SolarSquare is best positioned to become the national brand symbolic of that transition – and a generational Indian company.”
Rahul Taneja, Partner at Lightspeed India, said, "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 sheer operating discipline. We remain strong believers and have doubled down in this round.”
The opportunity ahead is structural, not cyclical. Growing power consumption among homeowners, rising electricity tariffs, urgency to reduce reliance on imported fuel, and grid infrastructure challenges – all are creating the moment for decentralised solar to become mainstream in India. India has an estimated 70 million viable residential rooftops in India. Residential solar penetration, even with recent growth, remains at less than 5 percent, compared to 35 percent in Australia and 15 percent in Germany, stated SolarSquare, highlighting the potential of the segment.
please contact: contact@energetica-india.net.
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