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Residential rooftop solar has raised funding from former Indian cricketer Mahcompany SolarSquare endra Singh Dhoni via the latter’s family office, Midas Deals. The investment is part of the company’s recent USD 53 million Series C round.
Dhoni has also been roped in as the company’s brand ambassador.
Founded in 2015 by Neeraj Jain, Nikhil Nahar and Shreya Mishra, the company sets up residential solar panels across India. It also manages the entire customer journey: from initial consultation and system design to installation, financing support, and long-term maintenance. According to the company, residential solar breaks-even in less than 5 years.
Since inception, SolarSquare has covered nearly 50,000 homes across the country and is currently run-rating over INR 1000 crore in revenues. Last month, SolarSquare had announced the USD 53 million Series C round led by B Capital with existing investor Lightspeed doubling down on its investment.
Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also returned to participate in the round. The round took the total capital raised by the company to more than USD 100 million.
The company plans to use the fresh capital to accelerate geographic expansion into new cities, deepen SolarSquare’s technology capabilities, hire talent and scale the platform to further capitalize.
That said, Dhoni’s Midas Deals has invested in a bunch of startups such as E-Plane, Zyla, Kisah, Sova Health, and more, according to Tracxn.
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