SolarSquare raises $53M Series C to expand residential solar into 30–40 Indian cities

Residential rooftop solar company SolarSquare has raised $53 million in a Series C round that includes MS Dhoni via Midas Deals. The company plans to expand beyond its current 29-city footprint, broaden financing options and strengthen its technology and customer-service infrastructure.

— Source publishedTue, 21 Jul, 2026, 10:52 IST·First seen Tue, 21 Jul, 2026, 10:55 IST·Source Entrackr · Newsletter

What happened

SolarSquare secured MS Dhoni’s investment through Midas Deals in its $53 million Series C round. The residential rooftop solar company will expand across India,

Key facts

  • $53 million
  • 50,000 homes
  • 29 cities
  • 30 to 40 new cities

Why this matters

SolarSquare’s city expansion and consumer-financing push make it a more consequential partner or competitor for utilities, home-services platforms, lenders and distributed-energy players in India.

What to watch

  • Number of cities launched and the pace of installations per new city.
  • Share of sales financed, loan approval rates, average ticket size and financing partner additions.
  • Customer-acquisition cost, sales-cycle duration, cancellation rates and installation-to-commissioning time.
  • Net-metering policy changes, DISCOM approval timelines and residential rooftop-solar subsidy disbursement speed.
  • Installer hiring, service turnaround time, customer ratings and referral contribution.
  • Competitive funding rounds, financing launches or aggressive pricing by other residential solar platforms.
  • Evidence of battery-storage attachment rates as households seek greater backup-power value.
  • Launch or deepen bank/NBFC partnerships for zero- or low-down-payment rooftop-solar loans.
  • Build city-level installation, inspection and after-sales service networks before broad marketing launches.
  • Use technology investment for remote design, lead qualification, project tracking and service-ticket management.
  • Target housing societies, affluent independent-home clusters and referral channels to reduce customer-acquisition costs.
  • Bundle solar with batteries, EV-charger readiness, energy monitoring or maintenance plans where economics support higher lifetime value.
  • Use the MS Dhoni association selectively for trust-building campaigns in expansion markets rather than relying on broad national advertising.

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