Friday
November 4
2022

Sacca’s Lowercarbon Doubles Down on Startup Bringing Solar Modules to Indian Rooftops

By Manish Singh

Chris Sacca’s Lowercarbon is doubling down on a startup that is racing to bring solar modules to rooftops in India.

SolarSquare said on Thursday it has raised $13 million in a Series A funding round led by Lowercarbon and Elevation Capital, just months after securing its seed financing. Existing backers Good Capital, Rainmatter, Better Capital and social commerce Meesho founders Vidit Aatrey and Sanjeev Barnwal also participated in the round.

Even as India is increasingly adding generation capacity from solar power, there’s a large population of the South Asian nation — the individuals — that has yet to join the clean energy bandwagon.

Less than 0.5% of Indian homes have rooftop solar systems. Such slow adoption could dampen Prime Minister Narendra Modi’s ambitious renewables goal. SolarSquare, which sells, installs and helps individuals finance solar modules, has an ambitious plan to change that. The startup also provides its solar solutions to housing societies and commercial establishments.

Photo courtesy of REDAVIA Solar.

Source: TechCrunch (link opens in a new window)

Categories
Energy
Tags
clean energy, renewable energy, solar energy, startups