Mumbai-based residential rooftop solar company, SolarSquare, has raised $53 million (~₹5.02 billion) in a Series C funding round led by B Capital, with participation from existing investors Lightspeed, Elevation Capital, Lowercarbon, Rainmatter by Zerodha, and Good Capital.

The company said the latest investment brings its total capital raised to more than $100 million (~₹9.46 billion). SolarSquare plans to use the funding to expand into new cities, strengthen its technology platform, hire talent, and scale its residential energy business across India.

Founded in 2015 by Neeraj Jain, Shreya Mishra, and Nikhil Nahar, SolarSquare provides end-to-end residential rooftop solar services, including system design, installation, financing support, and maintenance.

The company said it has powered approximately 50,000 homes across India and is currently operating at an annual revenue run rate of over ₹10 billion (~$114 million).

Shreya Mishra, co-founder and chief executive officer of SolarSquare, said the company plans to expand beyond rooftop solar installations into financing, battery storage, and home energy management solutions.

According to the company, SolarSquare operates a vertically integrated model that manages the customer journey from consultation and system design to installation, financing support, and maintenance. It also said it offers performance guarantees for its residential solar systems.

SolarSquare is present in cities including Bengaluru, Delhi, and Hyderabad, as well as states such as Gujarat, Madhya Pradesh, and Maharashtra.

Corporate funding in the solar sector rose to $11.1 billion across 53 deals in the first quarter of 2026, marking a 131% year-over-year increase from the $4.8 billion raised across 39 deals, according to Mercom Capital Group’s Q1 2026 Solar Funding and M&A Report.

In December 2024, SolarSquare raised $40 million in a Series B funding round. The funds were utilized to expand operations to over 50 cities from its current footprint of 20.