For years, India’s solar revolution happened far away from where most people lived. It was built in deserts, open fields and utility-scale solar parks that stretched for acres. Homes were expected to consume clean energy, not produce it.
This perspective is beginning to change. Today, those very rooftops are attracting some of the world’s most prominent investors.
B Capital, the global investment firm backed by Facebook co-founder Eduardo Saverin, has led a $53 million Series C investment in SolarSquare. Existing investors Lightspeed Venture Partners, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also participated, making it the largest venture funding round in India’s residential rooftop solar sector. The company plans to use the capital to expand into new cities, strengthen its technology platform and scale operations nationwide.
A new funding round is the obvious news here. The more compelling story is why so many seasoned investors moved simultaneously to back the exact same idea. The answer lies in an overlooked corner of India’s energy transition.
For over a decade, India’s solar success has been driven by utility-scale projects. The country now ranks among the world’s largest solar markets, but residential rooftops have contributed only a small share of that growth. This dynamic is starting to shift. A mix of grid tariff hikes, cheaper solar modules, easier credit, and subsidies from the PM Surya Ghar: Muft Bijli Yojana has finally made home solar financially attractive. Installing rooftop solar is no longer seen as an environmental choice alone. Increasingly, it’s becoming a financial one.
Founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, the Mumbai-based startup manages the entire customer journey from site surveys and financing to installation, monitoring and after-sales service. The model removes much of the complexity that has historically discouraged homeowners from adopting rooftop solar. The company says it has already installed systems in more than 50,000 homes and is operating at an annual revenue run rate exceeding ₹1,000 crore, suggesting that residential demand is no longer limited to early adopters.
This funding round is also notable because of who chose to invest. B Capital has backed companies building large technology platforms across sectors, while Lightspeed and Elevation have a long history of identifying businesses capable of scaling nationally. Their continued confidence suggests they’re not simply investing in a solar installer. they’re betting that residential solar could become one of India’s next major consumer infrastructure opportunities.
SolarSquare’s latest funding round is less about one company and more about where the entire industry is heading. It suggests investors believe India’s next phase of solar growth won’t be driven only by larger projects, but by wider adoption. After years of looking outward for renewable capacity, the market is finally beginning to look inward, towards the millions of rooftops that have been waiting to become part of the country’s energy transition.
