New Delhi: Former Indian cricket captain Mahendra Singh Dhoni has made yet another significant move in the startup ecosystem by investing in the rooftop solar startup SolarSquare. The investment was made through his family office Midas Deals. Alongside the financial backing, the legendary cricketer will also take on the role of the company’s brand ambassador.
While the exact investment amount from Dhoni remains undisclosed, this move is part of a larger USD 53 million (approximately Rs 510 crore) Series C funding round recently completed by SolarSquare. The funding round was spearheaded by existing investor Lightspeed, with participation from Lowercarbon Capital, Rainmatter, and Good Capital. The company stated that Dhoni joining their journey reflects his strong confidence in the vast potential of India’s domestic rooftop solar market.
SolarSquare plans to utilize this fresh infusion of capital to rapidly scale its operations. The company aims to expand into 30 to 40 new cities in its next growth phase. Strengthening its technology platform, providing accessible financing options for customers, enhancing post installation services, and accelerating hiring are among its top priorities.
Founded in 2015 by Shreya Mishra, Neeraj Jain, and Nikhil Nahar, SolarSquare initially catered to commercial and industrial clients before entering the residential rooftop solar segment in 2021. Today, the startup provides comprehensive services ranging from consultation and design to installation, financing, and maintenance. The company claims to have installed rooftop solar systems in over 50,000 homes across 29 cities. Having raised over USD 100 million in total funding so far, SolarSquare’s Annual Recurring Revenue has touched nearly Rs 1,000 crore.
The domestic rooftop solar market in India is expanding at a remarkable pace, driven by rising electricity costs, government subsidies, and a growing appetite for clean energy. SolarSquare estimates that around 70 million homes in the country are viable for rooftop solar installations. Industry experts project that India’s cleantech market could evolve into a USD 152 billion opportunity by 2030.
This marks Dhoni’s third startup investment in 2026, following his backing of ventures like Kuku and LightFury Games. The trend of Indian cricketers turning venture capitalists is gaining momentum. Recently, current captain Rohit Sharma became an investor and equity partner in the fitness startup Fittr, while Ajinkya Rahane invested in the footwear brand Chupps, and Riyan Parag backed the deeptech startup Proxgy.