SolarSquare raises $40 million in India’s largest solar venture round
SolarSquare, a Mumbai-based startup, raised $40 million in India's largest solar venture round, transitioning from corporate to residential solar, now powering over 20,000 homes and 200 housing societies.
MAIN POINTS
- SolarSquare raised $40 million, marking India's largest solar venture round.
- The company initially focused on corporate customers before switching to residential solar in 2021.
- SolarSquare has scaled to power over 20,000 homes and 200 housing societies.
- The startup was bootstrapped and profitable for five years before the transition.
TAKEAWAYS
- The transition to residential solar significantly expanded SolarSquare's market reach.
- Bootstrapping and profitability were key to SolarSquare's early success.
- The $40 million funding highlights investor confidence in India's solar sector.
- SolarSquare's growth reflects the increasing demand for residential solar solutions in India.