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SolarSquare Secures $55M Funding, Valued at $450M
Description
SolarSquare, an Indian rooftop solar company, is on the brink of securing a substantial funding round, potentially valuing the company at $450-$500 million. This new investment, co-led by B Capital and Lightspeed Venture Partners, reflects growing investor confidence in Indias residential solar market. SolarSquare, founded in 2015, offers a comprehensive solution for rooftop solar, with over 150 MW installed across 29 cities and powering nearly 50,000 homes and 400 housing societies. The companys strategic shift towards residential customers has led to a surge in annualized revenue, with a run rate of over $100 million. SolarSquare aims to reach 200 MW in residential solar by year-end, signaling a significant development in Indias rooftop solar sector.
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