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The Economic Times
The Economic Times
Pranav Mukul and Nikhil Patwardhan

B Capital leads SolarSquare’s $50-55 million round at $500 million valuation

B Capital Elevation Capital Lightspeed Lightrock Rainmatter ET

Mumbai-based rooftop solar startup SolarSquare Energy has raised $50-55 million in a new funding round led by B Capital. The round valued the company at $450-500 million, a jump of almost 2.5 times from its last valuation, people aware of the matter said. The fundraise comes at a time when venture investors have been stepping up bets on India’s residential solar market.

Existing investors Lightspeed Venture Partners and Elevation Capital also participated in the round, the people said. The company is currently clocking an annualised revenue run rate of about Rs 800-1,000 crore, they added.

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