Rooftop solar provider SolarSquare has successfully closed a $53 million Series C funding round, marking a significant milestone for the firm.
The investment was spearheaded by B Capital and included participation from several existing backers. Notably, former Indian cricket captain MS Dhoni has joined the company as both an investor and brand ambassador through his family office, Midas Deals.
SolarSquare Secures $53 Million in Series C Funding
This latest capital injection represents the largest venture capital investment recorded in the Indian solar sector to date.
The funding follows a previous $40 million Series B round led by Lightspeed Venture Partners in December 2024. Industry reports suggest that this new round places the company’s valuation between $450 million and $500 million.
The company plans to utilize these funds to scale its operations and expand its reach within the residential energy market.
While the specific financial contribution from Dhoni remains undisclosed, his involvement serves as a high-profile endorsement for the startup. The capital will support the firm as it manages the complexities of increasing customer acquisition and installation capacity.
MS Dhoni Joins SolarSquare as Brand Ambassador
Beyond his financial stake, Dhoni will serve as the official face of the brand to help build visibility for residential solar solutions.
His partnership aligns with the broader growth of India’s clean energy sector, where public awareness is becoming increasingly vital. By associating with a prominent figure, the startup aims to strengthen its position among homeowners looking for energy alternatives.
The collaboration highlights the growing intersection between celebrity investment and the green energy transition in India.
As the company seeks to capture a larger share of the market, the brand ambassador role is expected to play a key part in its outreach strategy. This move comes as the firm continues to navigate the competitive environment of the domestic solar industry.
Scaling Residential Solar Solutions Across India
Founded by alumni from IIT Bombay, SolarSquare provides end-to-end services for residential and commercial clients.
Their offerings include rooftop assessments, system design, installation, and ongoing maintenance.
To date, the company has completed projects for over 25,000 homeowners and more than 200 housing societies, totaling over 90 MW of installed solar capacity.
The business is operating within a favorable environment driven by government initiatives like the PM Surya Ghar: Muft Bijli Yojana.
These programs are designed to encourage household adoption of solar power as a solution to rising electricity costs. By focusing on this segment, the company is positioning itself to benefit from the national push toward wider renewable energy usage.
The influx of capital and the addition of a high-profile partner underscore the rising investor confidence in the long-term potential of India’s residential solar market.
This development reflects a broader trend of private capital supporting the national transition toward sustainable household energy sources.
