Former Indian cricket captain Mahendra Singh Dhoni has invested in residential rooftop solar startup SolarSquare through his family office, Midas Deals, while also joining the company as its brand ambassador. The investment was made as part of SolarSquare’s recently announced $53 million Series C financing, although the size of Dhoni’s individual commitment was not disclosed. The partnership gives the company a high-profile public representative as it prepares to expand its reach in India’s fast-growing household solar market.
Investment Strengthens SolarSquare’s Consumer Position
SolarSquare said Dhoni’s involvement reflects confidence in the long-term potential of residential solar and the company’s approach to building a trusted consumer brand. Dhoni described the investment as support for India’s future, emphasizing the importance of energy security, clean energy, and residential solar during the country’s next phase of development. His dual role as investor and ambassador could increase awareness among homeowners interested in solar installations but concerned about quality, financing, maintenance, or long-term service.
Series C Supports National Expansion
The $53 million Series C round was led by existing investor Lightspeed, with participation from Lowercarbon Capital, Rainmatter, and Good Capital. SolarSquare plans to use the proceeds to enter 30 to 40 additional cities, strengthen its technology platform, expand customer financing options, improve after-sales support, and increase hiring. The funding brings the company’s total capital raised to more than $100 million and provides resources for a broader national push beyond its current operating footprint.
Full-Service Residential Solar Platform
Founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, SolarSquare initially served commercial and industrial customers before expanding into residential rooftop solar in 2021. The company now offers homeowners an end-to-end service covering consultation, system design, installation, financing, performance monitoring, maintenance, and ongoing customer support. By combining these functions within one platform, SolarSquare aims to reduce the complexity of adopting rooftop solar and provide a more consistent experience throughout the system’s operating life.
Growth Across Indian Homes
SolarSquare reports that it has installed rooftop solar systems in more than 50,000 homes across 29 cities and is operating at an annual revenue run rate of approximately ₹1,000 crore. The company intends to scale both its physical installation network and digital capabilities as it serves a larger and more geographically diverse customer base. Its expansion strategy also includes wider access to financing, which remains important because the upfront cost of residential systems can limit adoption even when households expect longer-term savings.
India’s Rooftop Solar Opportunity
Demand for residential solar in India is being supported by rising electricity costs, increased interest in clean energy, and government programs encouraging households to install rooftop systems. SolarSquare estimates that approximately 70 million Indian homes have rooftops suitable for solar installations, leaving considerable room for companies capable of delivering reliable products and services at scale. The company’s latest financing and association with Dhoni position it to compete more aggressively as customer awareness grows and rooftop solar becomes a more mainstream household investment.
Dhoni’s investment adds both capital and public visibility to SolarSquare as the startup enters its next stage of expansion. For SolarSquare, the partnership supports an effort to build consumer trust while extending its technology, financing, installation, and service capabilities across more Indian cities. The company’s ability to maintain installation quality and after-sales performance during rapid growth will be central to whether it can convert India’s large rooftop potential into sustained residential adoption.