Former Indian Cricket Captain Mahendra Singh Dhoni has invested in residential rooftop photo voltaic startup SolarSquare via his household workplace, Midas Offers, as a part of the startup’s lately announced $53 million Sequence C funding spherical.

SolarSquare has additionally appointed Dhoni as an investor and brand ambassador. The monetary phrases of his investment haven’t been disclosed.

“For me, that is a lot larger than investing in an organization. It is about investing in India’s future. Power safety and clear vitality are priorities that can outline India’s subsequent decade, and residential photo voltaic has an essential function to play. What gave me the arrogance to come back on board was the founders’ dedication to constructing for the long run. That is why I’m excited to affix the SolarSquare mission as each an investor and model ambassador,” mentioned MS Dhoni.

Shreya Mishra, Co-founder & CEO, SolarSquare, mentioned, “We’re honoured to welcome MS Dhoni as an investor and model ambassador at SolarSquare. Over 20 years, he has held the belief and expectations of a billion Indians and that’s precisely the benchmark of belief we need to construct with our prospects. He’s additionally somebody who cares deeply about India and the local weather, and genuinely believes in what we’re constructing at SolarSquare.”

The Sequence C spherical was led by B Capital. Present traders Lightspeed, Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital additionally participated.

The funding spherical, introduced final month, took the startup’s whole capital raised to greater than $100 million.

Based in 2015 by Neeraj Jain, Shreya Mishra and Nikhil Nahar, the Mumbai-based startup supplies residential rooftop photo voltaic companies overlaying session, system design, financing assist, set up and long-term upkeep.

SolarSquare mentioned it has powered almost 50,000 properties throughout 29 cities in 9 Indian states.

The startup plans to make use of the brand new funding to enter one other 30 to 40 cities, strengthen its know-how platform, recruit employees and increase its residential vitality enterprise.

It is usually looking for to develop companies past rooftop installations, together with financing, battery storage and home-energy administration.

Demand for residential rooftop photo voltaic in India has been supported by rising electrical energy prices and authorities subsidies.

The PM Surya Ghar scheme, launched in 2024, goals to assist rooftop photo voltaic installations at 10 million households by March 2027.