Indian rooftop solar company SolarSquare is close to finalizing a funding round expected to raise between $55 million and $60 million, valuing the company at approximately $450 million to $500 million. This marks a significant increase from its $200 million valuation in December 2024. B Capital and Lightspeed Venture Partners are set to co-lead the Series C round, with Elevation Capital also participating. The funding reflects growing interest in India's residential solar market, driven by government incentives and a national target of 500 GW renewable energy capacity by 2030. SolarSquare, founded in 2015 and headquartered in Mumbai, focuses on residential solar systems and has expanded to nine states and 29 cities, serving nearly 50,000 households. The company aims to increase its residential solar portfolio to 200 megawatts this year, with an annualized revenue run rate exceeding ₹10 billion ($104 million).