Solarsquare, a renewable energy startup which was founded by IIT Bombay Graduates Neeraj Jain and Shreya Mishra, along with Pune University graduate Nikhil Nahar is coming up with new cost-effective technology to utilize solar energy for Indian households. They have informed thousands of consumers and standardized installation of solar panels in 16 cities spread across eight Indian states.

Since 2015, they were profitably running their 100 crore bootstrapped and profitable business by setting up solar power installations for large corporations. After 2021 they entered the B2C residential solar segment and they are offering rooftop solar solutions. Today the residential households account for 70% of their business.

The startup maintains to a wide network of 500 to 1,000 customers daily in 15+ cities, including Bengaluru, Mumbai, and Delhi NCR.

Shreya Mishra, Co-Founder of the company, stated, “Neeraj and Nikhil were only 26 and 27 respectively when they founded SolarSquare in 2015. In the same year, I founded Flyrobe, a fashion rental startup. It was very different from the world of solar energy. I sold my startup in 2019, and in the following year, my husband Neeraj convinced me to join SolarSquare. He was an engineer with banking experience but wanted to do something with deep meaning and purpose. While he had a good grasp of the solar market, he wanted my expertise in building consumer businesses. That’s how we started experimenting in the residential solar segment, which is more B2C.”

She also added that, they saw that the residential solar segment has great potential opportunity in the near future. If they enter in this segment, they have to focus all their energies on it. That was a major inflexion point of starting this business in B2C sector.

The renewable energy segment is bulging day-by-day because average Indian households are struggling with rising electricity bills due to increasing tariffs and regular incidences of extreme weather conditions. The rising electricity costs in many states compelled the consumers to explore alternative solutions, so they are widely adopting rooftop solar power installations.

Shreya further added, “Today, we are operational in 16 cities spread across eight states. Over two rounds of funding, we have raised about 130 crore and we’ll be doing close to 200 crore in revenues in this financial year.”

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