MS Dhoni Invests in Rooftop Solar Startup SolarSquare
Former Indian cricket captain MS Dhoni has invested in rooftop solar startup SolarSquare as part of its $53 million Series C funding round. The round was led by B Capital and also saw participation from existing investors and other backers.
Dhoni's investment was made through his family office, Midas Deals. His involvement also comes with a brand ambassador role at SolarSquare, bringing the cricketer closer to India's growing clean energy sector.
The investment comes at a time when rooftop solar is gaining momentum in India. The government's push for wider household adoption of solar power, along with rising electricity costs, has created a larger opportunity for companies serving residential customers.
B Capital Leads SolarSquare's $53 Million Funding Round
SolarSquare raised $53 million in its Series C round, with B Capital leading the investment. The company has described the fundraise as the largest venture capital investment in India's solar sector.
The funding follows SolarSquare's $40 million Series B round, which was led by Lightspeed Venture Partners in December 2024. The earlier round valued the company at about $200 million, according to reporting at the time.
The latest fundraise places SolarSquare's valuation in the range of $450 million to $500 million, according to earlier reports on the company's fundraising discussions. The final funding round was completed at $53 million.
The company has not publicly disclosed the exact amount invested by Dhoni. However, his participation gives SolarSquare a high-profile investor and brand ambassador as it seeks to build greater visibility in the residential solar market.
SolarSquare Targets India's Residential Solar Opportunity
Founded by IIT Bombay alumni, SolarSquare focuses on rooftop solar systems for homes, housing societies and businesses. Its services cover the process from rooftop assessment and system design to installation and maintenance.
The company's website says it has worked with more than 25,000 homeowners and over 200 housing societies. It also says the business has experience across more than 90 MW of rooftop solar installations.
SolarSquare's growth is closely linked to the broader expansion of India's rooftop solar sector. The government has been encouraging households to adopt rooftop systems through initiatives such as the PM Surya Ghar: Muft Bijli Yojana, which aims to support rooftop solar installations for one crore households.
For SolarSquare, the latest funding provides additional capital to scale its operations and capture a larger share of this expanding market. The company will also have to navigate challenges such as customer acquisition, installation capacity, financing and after-sales service as competition increases.
Dhoni's investment adds a prominent public figure to SolarSquare's journey. More importantly, the funding round signals continued investor interest in residential clean energy and the potential for rooftop solar to become a larger part of India's energy transition.
Sakshi Jadhav
