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Founded
2015
Headquarters
Mumbai (India)
Status
Series B
Company Details
Solar Square Energy Private Limited, often referred to as SolarSquare, is an Indian company focused on providing rooftop solar solutions for residential and commercial properties. Here's a detailed overview:
Company Overview:
Establishment and Vision: SolarSquare was founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, a team of engineers from IIT Bombay. Their vision is to make clean energy affordable and accessible in India.
Mission: The company aims to disrupt the distributed solar generation industry and drive the "Har Ghar Solar" mission, one rooftop at a time.
Services: SolarSquare specializes in rooftop solar system installation for homes, housing societies, and businesses. They offer end-to-end services, including rooftop inspection, installation, and post-installation care.
Customer Base: They serve both residential customers and Fortune 500 companies. SolarSquare has gained the trust of over 7000 homeowners.
Key Differentiators: SolarSquare distinguishes itself through modular and prefabricated installation designs, which they claim allows them to complete installations in approximately 8 hours, significantly faster than the industry standard of 3-5 days. They also emphasize customer service, transparency, financing options, and after-sales service.
UL Certified: SolarSquare is India’s only UL-certified solar company.
Personnel:
Founding Team:
Shreya Mishra (CEO of Residential Solar): Previously founded Flyrobe, an apparel rental platform, and holds an engineering degree from IIT-Bombay.
Neeraj Jain (Director-Strategy): Formerly worked in private equity and M&A at Deutsche Bank and holds an Electrical Engineering degree from IIT-Bombay.
Nikhil Nahar (Director-Technical): Has held engineering and managerial roles at Panasonic, Tech Mahindra, and CanvasM technologies.
Benefits of Solar Rooftop Systems (as promoted by SolarSquare):
Reduced carbon footprint.
Potential savings of ₹2000 or more on monthly electricity bills.
In summary, SolarSquare is a significant player in India's rooftop solar installation market, known for its customer-centric approach, rapid installation times, and commitment to expanding access to clean energy
Key Metrics
Total Equity Funding
$61.1Million
No. of Funding Rounds
4
Latest Funding Round
$40.0Million, Series B
as of December 12, 2024
Post Money Valuation
$216Million
as of N/A
Funding Multiple
1.34
as of N/A
Investors
Elevation Capital
and 4 moreEmployee Count
891
Similar Companies
Metafin
Exit Details
-
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| December 12, 2024 | Series B | $40.0Million | $216.0Million | Lightspeed Venture Partners, Lightrock, Elevation Capital, Lowercarbon Capital, Gruhas ,Rainmatter, Energy Access Acceleration, Zerodha | ||
| October 10, 2023 | Series A | $4.5Million | $81.4Million | $18.2Million | Rainmatter, Gruhas, Lowercarbon Capital, Good Capital, Climate Angels, Elevation Capital, Better Capital, GoMassive, Stride Ventures ,Zerodha | |
| July 26, 2022 | Series A | $12.5Million | $45.9Million | $11.8Million | Elevation Capital, Lowercarbon Capital, Good Capital, Rainmatter, Better Capital ,Zerodha | |
| September 23, 2021 | Seed | $4.0Million | $17.6Million | $11.3Million | Good Capital, Lowercarbon Capital, GoMassive, Better Capital, Symphony Asia Holdings , Wynton Holdings, Massive Consulting, Z-axis Management Consultants and Strategic Advisors, Zerodha, Rainmatter |