SolarSquare, the residential rooftop solar platform, has raised fresh capital from former Indian cricket captain Mahendra Singh Dhoni as part of its $53 million Series C round. The investment was made through his family office, Midas Deals. Alongside the equity infusion, Dhoni has also been appointed as the official brand ambassador for the company.
The primary component of the Series C funding transaction was led by Lightspeed, with participation from Lowercarbon Capital, NGP Capital, Elevation Capital, and other existing institutional backers. The strategic inclusion of high-profile individual backing aligns with the goal of expanding consumer trust across regional retail markets.
Funds Deployment
SolarSquare, founded by Shreya Mishra and Nikhil Nahar, offers complete residential rooftop solar solutions, covering consultation, design, financing, monitoring, and after sales support. The company has already completed installations in over 50,000 homes across 29 cities, positioning itself as a strong player in distributed renewable energy.
Newly raised capital will be used to expand into 30–40 more cities, upgrade technology infrastructure, broaden consumer financing options, and strengthen after sales service capabilities. In the residential renewable energy market, capital needs are shaped by the high cost of acquiring customers and building strong local service networks.
Expanding rooftop solar installations into 40 more cities requires significant operational setup, stable supply chains, and trained local teams. At the same time, offering flexible financing options demands balance sheet strength and partnerships with external financial institutions, making solar adoption more accessible for middle income households.
What Dhoni Says
Reflecting on the strategic transaction and long-term perspective, Mahendra Singh Dhoni stated, "For me, this is much bigger than investing in a company. It is about investing in the future of the nation. Energy security and clean energy are priorities that will define the next decade for India, and residential solar has an important role to play. What gave me the confidence to come on board was the commitment shown by the founders to build for the long term."
Expressing the outlook of the executive leadership, Shreya Mishra, Co-founder and Chief Executive Officer of SolarSquare, stated, "We are honoured to welcome MS Dhoni as an investor and brand ambassador at SolarSquare. Over two decades, he has held the trust and expectations of a billion citizens, and that is exactly the benchmark of trust we want to build with our customers."
Looking ahead, the sector continues to experience structural growth as domestic power tariffs rise and retail consumer awareness expands. The successful deployment of capital and high profile brand integration will determine how efficiently the enterprise captures growing household demand across tier two and tier three urban centers.
About Startup
SolarSquare is a domestic residential rooftop solar company that provides complete solar solutions for homeowners and residential housing societies. The company manages the entire value chain, including rooftop assessment, system engineering, financing facilitation, installation, and long-term maintenance services.
Operating across major Indian urban centers, the organization focuses on reducing household electricity expenses through reliable solar technology adoption.
