MS Dhoni Invests In Rooftop Solar Startup SolarSquare
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Former India cricket captain Mahendra Singh Dhoni has invested in rooftop solar startup SolarSquare through his family office, Midas Deals. As part of the partnership, Dhoni will also join the startup as its brand ambassador.
The investment forms part of SolarSquare’s recently announced $53 Mn (about ₹510 Cr) Series C funding round led by existing investor Lightspeed. The round also saw participation from Lowercarbon Capital, Rainmatter and Good Capital.
The startup did not disclose the size of Dhoni’s investment.
In a statement, SolarSquare said the partnership reflected Dhoni’s confidence in the long-term potential of India’s residential rooftop solar market.
The startup plans to use the fresh capital to expand into 30-40 new cities, strengthen its technology platform, widen financing options, enhance customer service and after-sales support, and ramp up hiring.
Founded in 2015 by Shreya Mishra, Neeraj Jain and Nikhil Nahar, SolarSquare initially focused on commercial and industrial customers before entering the residential rooftop solar segment in 2021. It offers end-to-end services spanning consultation, system design, installation, financing, monitoring and maintenance.
The startup claims to have installed rooftop solar systems in more than 50,000 homes across 29 cities. It has raised more than $100 Mn in funding to date and is currently operating at an annual revenue run rate (ARR) of about ₹1,000 Cr.
The development comes as India’s residential rooftop solar market gains momentum, driven by rising electricity tariffs, government subsidies, and growing demand for cleaner energy. SolarSquare estimates that nearly 70 Mn Indian homes are suitable for rooftop solar installations.
The broader cleantech ecosystem is also witnessing rapid growth. India’s cleantech economy is projected to become a $152 Bn opportunity by 2030.
For Dhoni, SolarSquare marks his third startup investment this year, after backing audio entertainment startup Kuku and gaming startup LightFury Games.
It also reflects a broader trend of Indian cricketers backing startups and consumer brands. For instance, a month back fitness startup Fittr roped in Rohit Sharma as an investor and equity partner. Other investments this year included Ajinkya Rahane backing footwear brand Chupps and Riyan Parag investing in deeptech startup Proxgy.
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