Rooftop solar startup SolarSquare was valued at $470 million following a Series C funding round, with co-founders retaining a 27.5 percent stake.
Residential and small commercial solar installation has accelerated in India amid rising electricity tariffs and government subsidies. SolarSquare competes in a crowded field of installers and financing providers.
The valuation reflects investor confidence that distributed solar will capture a growing share of India’s renewable capacity additions. Founders’ retained stake indicates continued alignment with long-term growth plans.
Proceeds will fund expansion into additional states and technology for customer acquisition and project management.
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Sources:
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