Solar Square.
Solar Square Funding News: India’s push toward renewable energy just got a massive financial boost. SolarSquare, a leading player in the country’s residential solar market, has successfully raised $53 million (around ₹508 crore) in its latest Series C funding round.
The investment was led by global venture capital firm B Capital. It also saw strong backing from a powerhouse lineup of existing investors, including Lightspeed, Lowercarbon Capital, Good Capital, Zerodha, and Better Capital.
For a company dedicated to making clean energy accessible to everyday households, this influx of capital marks a major milestone. SolarSquare has already established a massive footprint, installing more than 150 MW of solar capacity across 29 cities. Its systems currently power nearly 50,000 homes and about 400 housing societies, alongside several major business enterprises.
Now, the company is looking at the horizon. SolarSquare plans to use these fresh funds to scale up its operations, enter brand-new cities across India, and heavily upgrade its core technology platform.
The Legal Architects Behind the Deal
Securing over $50 million is no simple handshake agreement. Transactions of this scale require meticulous legal engineering to ensure every detail protects the company, its founders, and its new investors.
To navigate this complex financial landscape, SolarSquare brought in one of India’s top-tier legal firms, Shardul Amarchand Mangaldas & Co (SAM).
The SAM team acted as the legal architects for the entire transaction. They didn’t just review the paperwork; they managed the process from start to finish. This included drafting, negotiating, and finalizing critical documents such as the share subscription agreement, shareholders’ agreement, and share purchase agreements. They also structured the founders’ employment agreements and handled all ancillary transaction documents required to lock in the deal.
Furthermore, the firm conducted a comprehensive “vendor legal due diligence.” This is essentially a deep-dive health check of the company’s legal and financial standing, ensuring everything was transparent and solid before the official investment took place.
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The Team that Made it Happen
A deal of this magnitude requires a dedicated team working behind the scenes. The legal transaction team at Shardul Amarchand Mangaldas was led by Partner Manish Gupta, alongside Principal Associate Rashi Singh, Senior Associate Vivek Tiwari, and Associate Adarsh Mishra.
The extensive due diligence process—the rigorous review of records and regulatory compliance—was supported by a broader team of associates, including Mannshree Sikchi, Ananya Vajpayee, Pratham Bagani, and Anjali Banerjee.
Thanks to this robust collaboration between tech innovators, forward-thinking investors, and sharp legal minds, India’s rooftop solar revolution is well-positioned to accelerate, bringing cleaner, cheaper energy to thousands of more homes in the near future.
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