B2C rooftop solar startup SolarSquare raised Rs 100 crore in Series A led by Elevation Capital and existing investor Lowercarbon — the US-based Chris Sacca’s climate-tech fund where other existing investors, including Good Capital, Rainmatter, and angels Vidit Atrey and Sanjeev Barnwal (Meesho) also participated.
SolarSquare, which allows customers to install and maintain rooftop solar systems, intends to use the funds to strengthen its embedded solar financing offering by obtaining an NBFC licence in the near future. Currently, it provides instant loans for solar rooftops through its NBFC partners. The startup purchases rooftop solar panels and inverters from third-party vendors, designs them in-house, and instals them according to consumer specifications, in addition to providing after-sales service.
