Indian startup SolarSquare is nearing the completion of a new investment round for installing solar panels in households and residential complexes. According to TechCrunch, the company plans to raise between $55 million and $60 million in a Series C round led by B Capital and Lightspeed Venture Partners. The deal is expected to value the startup at $450-500 million. This is reported by Techcrunch.com reports .
This investment indicates that SolarSquare's market valuation has more than doubled in the last 18 months. Lightspeed Venture Partners previously led the Series B round in December 2024. Existing investor Elevation Capital is also expected to participate in the new round. Negotiations are currently in the final stages, and the deal could be finalized next month.
India aims to reach 500 gigawatts of renewable energy capacity by 2030, with solar energy expected to account for more than half of this figure. By 2025, the country became the world's third-largest solar energy producer after China and the US. Government subsidies and incentives are further accelerating the adoption of solar panels among the population.
Founded in 2015, SolarSquare currently operates in 29 cities and has installed over 150 megawatts of solar capacity. The company serves not only private households but also major enterprises such as Swiggy, Zepto, and iD Fresh Food. Reports indicate that the startup's annual revenue has exceeded $104 million, and it plans to expand its residential portfolio to 200 megawatts this year.
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