SolarSquare Energy’s Post

SolarSquare recently secured $4.2 million in funding to boost their solar technology offerings. This funding round comes from existing investors including Zerodha Technology, Gruhas Proptech, Lowercarbon Capital, and Good Capital. ➡ Why did SolarSquare raise funds? ▪ Market Opportunity: India's rooftop solar market is booming, and SolarSquare is poised to capitalize on this growth by expanding its reach and services. ▪ Growth Ambitions: The company aims to double its revenue by FY25 (fiscal year ending March 2025). ➡ Strategic Investments: Funds will be used for: ▪ Expansion: Entering new markets and cities across India. ▪ Working Capital: Fueling day-to-day operations and growth initiatives. ▪ Futureproofing: Investments in technology, marketing, and talent acquisition to gain a competitive edge. ➡ SolarSquare's Impressive Track Record: ▪ Customer Base: The company has successfully powered over 10,000 homes and 100 housing societies. ▪ Revenue Growth: Despite recent losses, SolarSquare witnessed a significant revenue jump from ₹81 crore to ₹107 crore in FY22 and FY23, respectively. ➡ Looking Ahead: A Bright Future for SolarSquare With this fresh infusion of capital, SolarSquare is well-positioned to: ▪ Become a Major Player: The company has the potential to become a dominant force in India's rooftop solar market. ▪ Sustainable Impact: SolarSquare's growth will contribute to India's clean energy goals and empower more individuals to harness solar power. ▪ Investor Confidence: This funding round signifies investor confidence in SolarSquare's leadership, vision, and ability to deliver exceptional value. 🤔 👍 OurTake: A Promising Investment SolarSquare's funding appears to be a well-timed and strategic decision. The Indian rooftop solar market offers immense potential, and SolarSquare's established track record positions them to capitalize on this growth. 💪 Here's what strengthens my view: ▪ Reputable Investors: The involvement of established firms like Zerodha Technology and Lowercarbon Capital underscores investor confidence in SolarSquare's future. ▪ Focus on Growth: The funding allocation for expansion, working capital, and strategic investments indicates a clear focus on scaling the business. ▪ Market Opportunity: India's growing demand for clean energy solutions creates a favorable environment for SolarSquare's success. However, it's important to acknowledge that past performance doesn't guarantee future results. Factors like competition and government policies could impact SolarSquare's growth trajectory. Share this post and follow for more insights on the Indian clean energy sector! #SolarEnergy #SustainableSolutions #India #GrowthFunding #CleanTech

🌞 SolarSquare Raises $4.2 Million to Scale Its Solar Tech Portfolio. SolarSquare, a rooftop solar solutions startup, has secured $4.2 Million (approximately INR 35 Cr) in fresh funding from Zerodha Technology, Abhijeet Pai and Nikhil Kamath’s Gruhas Proptech, Lowercarbon Capital, and Good Capital. Here are the details: 📈 Investment Details: - The funding round saw investments from Lowercarbon Capital (INR 20.74 Cr), Good Capital (INR 3.32 Cr), Gruhas Proptech (INR 6.22 Cr), and Zerodha Technology (INR 3.98 Cr). - SolarSquare's board passed a special resolution to allot 7,589 Series B compulsory convertible debentures at an issue price of INR 46,710 per debenture. - Each debenture will convert into a preference share during the next qualified funding round, with investors aiming for a valuation of $75 Mn. 🚀 Utilization of Funds: - The freshly raised capital will be used for expanding SolarSquare's operations, supporting its working capital requirements, and for general corporate purposes. 🌍 About SolarSquare: - Founded in 2015 by Neeraj Jain and Nikhil Nahar, SolarSquare Energy offers full-stack rooftop solar solutions. This includes designing, installing, and financing rooftop solar systems for homes, housing societies, and commercial establishments. - Despite a fourfold increase in net losses from INR 8 Cr in FY22 to INR 30 Cr in FY23, SolarSquare's revenue from operations rose to INR 107 Cr from INR 81 Cr in FY22. 🔋 Market Position and Competition: - SolarSquare has raised a total of $16.05 Mn to date, including a significant Series A funding round led by Elevation Capital and Lowercarbon Capital. - The company competes with other solar solution providers like Zunroof, Cleantech, Mysun, Oorjan, and Freyr Energy in the rapidly growing cleantech sector. 📈 Sector Growth and Investment Trends: - The funding round for SolarSquare comes amid increasing investor interest in the cleantech sector. Recently, GPS Renewables raised $50 Mn (INR 410 Cr) in debt financing, while Sprih raised $3 Mn (INR 25 Cr) in seed funding. The investment in SolarSquare underscores investor confidence in the growth potential of rooftop solar solutions and the cleantech sector at large. SolarSquare Energy #SolarSquare #Cleantech #RooftopSolar #StartUpNews #BusinessNews #MicroShots #NewsUpdates

News in Renewable Energy: SolarSquare Energy Secures $4.2M in Fresh Funding! Exciting developments in the rooftop solar industry! SolarSquare, a leading rooftop solar startup, has successfully raised $4.2 million from a stellar group of investors. The latest funding round saw contributions from Zerodha Technology, Gruhas Proptech (helmed by Abhijeet Pai and Nikhil Kamath), Lowercarbon Capital, and Good Capital . Key Highlights: Total Raised: Rs 35.44 crore (~$4.2 million) Investors: Lowercarbon Capital, Good Capital, Gruhas Proptech, Zerodha Technology Purpose: Expansion, working capital, and general corporate purposes Company Valuation: Investors looking at a $75 million valuation in the next funding round Founded by Neeraj Jain and Nikhil Nahar, SolarSquare is revolutionizing rooftop solar systems for homes, housing societies, and commercial establishments. With a remarkable revenue growth of 35.4% to Rs 107 crore in FY23, SolarSquare is poised for even greater heights despite a Rs 35 crore loss in the same period. This funding will bolster SolarSquare's mission to provide sustainable and cost-effective solar solutions, further solidified by their recent acquisition of PV Diagnostics, a specialist in utility-scale solar power. Join us in congratulating SolarSquare on this significant milestone and their continued commitment to a greener future! Read More: https://lnkd.in/gUa2ZPWN #SolarSquare #RenewableEnergy #SolarPower #FundingNews #Zerodha #GruhasProptech #LowercarbonCapital #GoodCapital #GreenEnergy #SustainableFuture #RooftopSolar #CleanTech #EnergyInnovation

Two of the biggest global backers of India EQT Group & Temasek have decided to exit their green energy generation company O2 Power. With about a dozen such platforms available in the market, is everyone trying to make hay till the sun shines? New PPAs -- hybrid with storage added to the mix -- have made 17-18% dollar IRRs possible say industry experts. But will potential investors pay the multi billlion dollars enterprise value that the two marquee investors are seeking. What do you think? My story in The Economic Times today. #renewableenergy #solarenergy Hardeep Singh Puri Solar Energy Corporation of India Limited https://lnkd.in/dfqSGzjq

SeaX Ventures invests in Active Surfaces, a pioneering company in rooftop solar technology. Active Surfaces develops thin-film perovskite modules that offer a low-cost solution for commercial and industrial rooftop installations. This investment aligns with SeaX's mission to support disruptive, sustainable technologies. "Active Surfaces is redefining the rooftop solar landscape. Their thin-film modules perfectly align with our goal of promoting environmentally friendly energy sources," says Dr. Supachai Kid Parchariyanon, Managing Partner of SeaX Ventures. Shiv Bhakta ♻️, Co-founder of Active Surfaces, expressed excitement about the partnership, stating it will enhance their capabilities to innovate and scale in global energy markets. With the booming e-commerce sector's need for distribution centers and US incentives for domestic solar manufacturing, Active Surfaces' rooftop solar solutions hold immense potential. #ActiveSurfaces #SeaX #Solar #MaterialScience #Deeptech

🌞 Rooftop Solar for Housing Societies in India: Challenges and Solutions 🌱 The adoption of rooftop solar systems in housing societies across India is gaining momentum as a sustainable energy solution. However, several challenges hinder their widespread implementation. Here’s a closer look at these challenges and potential solutions to overcome them, keeping in mind the unique Indian context. Challenges 💰 Initial Cost and Financing Challenge: The upfront costs of installing solar panels can be high for many housing societies, especially in urban areas. Solution: Leverage government schemes like the Pradhan Mantri KUSUM Scheme and state-level subsidies to make financing easier. Collaborating with RESCO providers for lease or power purchase agreements (PPAs) can also reduce financial strain. 🏢 Space Constraints Challenge: Many housing societies, especially in densely populated cities, face significant limitations in rooftop space for solar installations. Solution: Conduct detailed site assessments to maximize available space. Explore innovative solutions such as solar rooftops on parking areas or using solar canopies in gardens. 📜 Regulatory and Policy Barriers Challenge: Navigating complex regulations and obtaining the necessary approvals can be daunting for housing societies. Solution: Advocate for simplified regulations and standardized processes at local and state levels. Collaborate with solar developers familiar with the Indian regulatory landscape to ensure smoother installations. 🔧 Maintenance and Technical Expertise Challenge: Regular maintenance of solar systems requires technical know-how, which many societies may lack. Solution: Partner with local solar service providers for ongoing maintenance. Consider training resident volunteers to monitor and maintain the systems, fostering a sense of community responsibility. 🤝 Community Engagement and Decision-Making Challenge: Gaining consensus among diverse residents on the benefits and logistics of installing solar panels can be challenging, especially in large societies. Solution: Organize community meetings and workshops in local languages to educate residents about the benefits of solar energy, the installation process, and available financial incentives. Use local success stories to motivate and inspire participation. Conclusion Rooftop solar systems offer a viable solution for housing societies in India to reduce energy costs and promote sustainability. By addressing the challenges through collaborative efforts, innovative solutions, and community engagement, housing societies can harness the benefits of solar energy, paving the way for a greener future. Let’s embrace renewable energy and contribute to a sustainable India! 🌍💡

Shining Bright: SolarSquare Secures Funding to Power Indian Homes Exciting news from the cleantech sector! SolarSquare, a leading rooftop solar solutions provider in India, has successfully closed its Series A funding round a few months back, securing ₹100 Crore ($12.08 million). This significant investment will fuel SolarSquare's mission to make solar energy accessible and affordable for Indian households. Lighting the Way: The SolarSquare Story Founded in 2015 by IIT Bombay alumni Neeraj Jain, Shreya Mishra, and former Panasonic executive Nikhil Nahar, SolarSquare initially focused on commercial rooftop solar solutions. Recognizing the immense potential of the residential market, they pivoted their strategy in 2020, becoming a major player in the B2C rooftop solar segment. Sun-Powered Solutions SolarSquare offers a comprehensive suite of services, making the switch to solar energy seamless for homeowners. Their approach includes: Modular Design and Installation: Standardized, IKEA-inspired solar panel setups ensure efficient installation and customization for individual needs. Third-Party Procurement: SolarSquare sources high-quality panels and inverters from leading manufacturers, offering competitive pricing. Seamless After-Sales Service: A dedicated team provides ongoing maintenance and support, ensuring optimal system performance. The Funding Spark This Series A round was led by Elevation Capital, a prominent Indian venture capital firm, with participation from Lowercarbon Capital (founded by Chris Sacca) and existing investors Good Capital, Rainmatter, and angel investors like Vidit Atrey and Sanjeev Barnwal (Meesho). A Brighter Future for Solar Energy SolarSquare's funding success is a testament to the growing demand for clean energy solutions in India. The company plans to leverage the fresh capital for: Market Expansion: Reaching new customer segments and expanding their geographical footprint. Team Building: Recruiting top talent to support their ambitious growth plans. Technology & Innovation: Investing in R&D to further enhance their offerings. Join the Solar Revolution! SolarSquare is paving the way for a more sustainable future in India. Are you interested in learning more about how solar power can benefit your home? Connect with SolarSquare in the comments below! #foundersgurukul #startupnews #solarSquare #cleantech #funding #renewableEnergy #india #sustainablefuture #solarpowerforhomes #rooftopaolar #maketheswitch

Hohm Energy to scale adoption of rooftop solar across South Africa, backed by $8M seed The funding, whose first tranche of $4.25 million came in Q4 2022, is the largest seed round for a tech startup in South Africa, according to Hohm Energy. It was led by E3 Capital and 4DX Ventures, attracting participation from Breega, E4EAfrica, Musha Ventures, Climate Capital Ventures, @TO.org , Tekton Ventures and @Sunu Capital . Hohm Energy says its solution was built as an alternative and sustainable energy source for over 7 million addressable households connected to South Africa’s national grid. Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy runs a software and marketplace model connecting different stakeholders in the $51 billion rooftop solar market value chain. The clean tech streamlines design, scheduling and procurement for installers while improving accessibility for buyers. #venturecapital #africa #startups #scale David MERCY CYNTHIA KYOBUTUNGI Agnes Ron George Bryson

SOLAR MATERIALS Takes the Spotlight: Wins Solar Startup Award 2024 SOLAR MATERIALS has clinched the esteemed Solar Startup Award 2024 for its groundbreaking recycling solution. Their innovative technology enables the retrieval of all raw materials from solar panels, boasting a remarkable 98% recovery rate and slashing carbon emissions by 80%. The Solar Startup Award, awarded annually by SolarPower Europe, celebrates the strides made by solar innovators toward a renewable energy future. During the SolarPower Summit 2024 in Brussels, Fridolin Franke, CEO & Co-Founder of SOLAR MATERIALS, showcased their vision alongside fellow finalists. Attendees cast their votes, ultimately crowning SOLAR MATERIALS as the victor. Fridolin Franke, CEO & Co-Founder, SOLAR MATERIALS […] Read the full story here: https://lnkd.in/dtbvYQ49 #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #europe #renewableenergy #renewableenergy #solarenergy #solarpowereurope

Solar Awareness of Kerala’s Women-Powered Solar Startups Solar Awareness in Kerala is driven by women-led startups Freyr Energy and Zircle. Freyr aims to solarize 2,000 homes by year-end, while Zircle simplifies clean energy transitions. Kerala’s rooftop solar capacity grew by 18% between Q2 2022 and Q2 2023, aiming for 50% renewable energy by 2027.... #Asia #India #Kerala #SolarAsia #Solarawareness #SolarIndia #SolarStartups