The SolarSquare plans to use the fund raised to expand pan-India in the next 18 to 24 months
Residential solar company SolarSquare, has raised INR 100 crore in Series A funding round led by Elevation Capital and Lowercarbon. The round also saw participation from existing investors Good Capital, Rainmatter and also angels such as Vidit Atrey and Sanjeev Barnwal (Meesho).
The SolarSquare plans to use the fund raised to expand pan-India in the next 18-24 months. The company also plans to invest extensively in giving a seamless experience to its customers with product innovations in installation designs, launching its in-house NBFC to give 5-min loan approvals to residential solar buyers, and to develop technology across the board such as a consumer app for monitoring solar electricity generation, building robust back- end technology dashboards across the customer journey from order booking to installation, and merchant side apps for installation and sales partners, as per company's statement.