SolarSquare secures $40 million to expand rooftop solar operations

Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B funding round led by Lightspeed, with Lightrock also participating. 

Existing investors, including Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech, contributed as well.

The funds will support SolarSquare’s expansion to over 50 cities from its current presence in 20. 

Additional investments will focus on technology, talent acquisition, brand building, and developing an asset management technology stack for remote monitoring of residential solar systems.

Previously, SolarSquare raised $19.5 million across three rounds, backed by Meesho, NoBroker, UrbanLadder, Paytm, and GoFynd.