SolarSquare, an Indian startup that helps households and housing societies embrace solar power, is set to secure a massive £40 million investment from B Capital and Lightspeed Venture Partners. This round could value the company at over £350 million, reflecting growing investor confidence in India's residential solar market.

The funding will accelerate SolarSquare’s growth, positioning it as a full-stack residential solar platform amidst a fragmented industry dominated by smaller local installers and networks tied to major component manufacturers. Founded in 2015, the company has installed over 150 MW of solar capacity across 29 cities in nine states, powering nearly 50,000 homes and around 400 housing societies.

SolarSquare’s revenue run rate now exceeds £100 million, with plans to increase its residential solar portfolio to 200 MW this year. This investment comes as India aims for 500 GW of renewable energy capacity by 2030, with solar expected to play a significant role.

The rapid growth and increasing investor interest indicate a shift towards cleaner, more sustainable energy sources in the face of global environmental challenges. As residential customers represent the majority of SolarSquare’s business, this funding could significantly impact India's transition to renewable energy on a household level.