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SolarSquare in talks to raise up to $60M as India’s rooftop solar market draws major VC interest

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SolarSquare, an Indian rooftop solar startup that helps households and housing societies adopt solar power, is in advanced talks to raise fresh capital after securing India’s largest solar venture investment in December 2024, TechCrunch has learned.

B Capital and Lightspeed Venture Partners are set to co-lead the Series C round, which could value SolarSquare at between $450 million and $500 million and bring in $55 million to $60 million in new investment, according to multiple people familiar with the matter. That would represent more than a doubling of SolarSquare’s valuation in roughly 18 months — a sign of how rapidly investor conviction is building around India’s residential solar market.

Lightspeed Venture Partners previously led SolarSquare’s $40 million Series B round at around a $200 million post-money valuation in December 2024. This time, according to a source, it’s investing through its growth fund, which has backed names such as Razorpay — India’s leading digital payments platform — and Zepto, the fast-delivery startup.

Existing investor Elevation Capital is also expected to participate in the deal, which is currently in advanced stages and is expected to close next month. The terms could still change as the financing has not yet been finalized. SolarSquare has raised $61.1 million in equity financing to date, per the startup data platform Tracxn.

India has set a target of achieving 500 gigawatts of renewable energy capacity by 2030, with solar expected to contribute more than half of that total. The country became the world’s third-largest solar power producer in 2025, trailing only China and the U.S. Its cumulative installed solar capacity has surged from about 3 GW in 2014 to more than 150 GW in 2026, aided partly by government incentives and subsidy schemes aimed at accelerating rooftop solar adoption.

Mumbai-headquartered SolarSquare, founded in 2015, is positioning itself as a full-stack residential solar platform in a market that remains highly fragmented, dominated by small local installers and dealer networks tied to component manufacturers such as Tata Power, Waaree Energies, Luminous Power Technologies, and Exide Industries. The startup designs, installs, and maintains rooftop solar systems for homes, housing societies (the apartment complexes and gated communities common across urban India), and enterprises, and has installed more than 150 megawatts of solar capacity with a presence across 29 cities in nine states, per its website.

SolarSquare has powered nearly 50,000 homes and around 400 housing societies, according to a source. The startup has also deployed rooftop solar systems for large enterprises including Swiggy, Zepto, and iD Fresh Food.

Residential customers and housing societies now account for a majority of SolarSquare’s business, according to people familiar with the startup’s operations, as the startup has increasingly scaled back lower-margin industrial rooftop solar projects in recent years.

The startup has crossed an annualized revenue run rate of more than ₹10 billion (around $104 million) across homes and housing societies combined, according to a source familiar with the matter. It also aims to reach 200 megawatts in its residential solar portfolio this year, the source added.

SolarSquare declined to comment. B Capital, Lightspeed Venture Partners, and Elevation Capital did not respond to requests for comment.

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P-YAEP: 500 Plateau Youths Begin Agribusiness Journey Under State Empowerment Initiative

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The Plateau Youth Agricultural Empowerment Programme (P-YAEP) has officially commenced the orientation and project briefing for 500 successfully shortlisted beneficiaries, signaling a major step forward in the Plateau State Government’s commitment to youth empowerment through agriculture. The programme is designed to equip young people with the skills, resources, and opportunities needed to participate actively in the agricultural value chain while contributing to food security and economic growth across the state.

The orientation exercise, held at the Azi Nyako Youth Centre in Jos, brought together beneficiaries from various local government areas, government officials, youth leaders, project managers, and stakeholders in the agricultural sector. The gathering served as an opportunity to familiarize participants with the objectives of the programme, the expectations of beneficiaries, and the responsibilities required to ensure the successful implementation of their agricultural projects.

Speaking during the event, officials emphasized that P-YAEP is more than just an empowerment scheme, describing it as a strategic investment in the future of Plateau’s youth. Beneficiaries were encouraged to approach the programme with dedication, discipline, and a commitment to learning, noting that agriculture remains one of the most viable pathways for job creation, wealth generation, and sustainable development in the state.

Project managers also used the briefing session to provide detailed insights into the operational framework of the initiative, including project timelines, monitoring mechanisms, and support structures available to participants. They highlighted the importance of accountability, transparency, and proper resource management, stressing that the success of the programme depends largely on the commitment and active participation of the beneficiaries.

As the programme moves into its implementation phase, expectations remain high that the initiative will create meaningful opportunities for young people, boost agricultural productivity, and strengthen rural economies across Plateau State. With 500 youths now set to embark on their agribusiness journey, P-YAEP is being widely regarded as a bold and practical step toward reducing unemployment and fostering a new generation of agricultural entrepreneurs in the state.

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Labour Party hails INEC over inclusion of candidate in Enugu North by-election

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The Labour Party, LP, has reacted to its inclusion in the list of candidates for the Enugu North senatorial by-election by the Independent National Electoral Commission, INEC.

INEC has rectified the previous omission of the party and its candidate from the list of participants in the upcoming Enugu North Senatorial District by-election, which is set for June 20, 2026.

The party, in a statement signed by its National Publicity Secretary, Ken Eluna Asogwa, said it was important to note that when the Commission first released the list of political parties and candidates authorized to take part in the by-elections nationwide, the Labour Party and its candidate were notably missing.

The omission happened despite the party having fully adhered to all constitutional and statutory obligations.

However, the party said that after discussions with the Commission’s leadership, the oversight has now been corrected, and the Labour Party along with its candidate have been duly included in the election.

“Consequently, the Party is entirely prepared to engage in the by-election and provide the residents of Enugu North with credible and people-focused representation for the remainder of the 10th Senate,” the statement said.

“By ensuring that the appropriate actions were taken, the Commission has shown its responsiveness and strengthened public trust in the electoral process.”

The party also expressed gratitude to its supporters, members, and well-wishers who expressed concern and inquired about the Party’s status in the upcoming election. Your vigilance, dedication, and steadfast belief in the Party are truly invaluable.

“As the campaigns move into their final stages, the Labour Party wishes success to its candidates in Enugu North, Nasarawa North, Rivers South-East, and all its candidates participating in the various by-elections across the nation,” it stated.

“We remain hopeful that the outcomes will not only be favourable to our Party but will also deepen Nigeria’s democratic culture and strengthen the people’s faith in the electoral process.”

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