Former Indian cricket captain Mahendra Singh Dhoni has once again made a big bet in the startup world. Dhoni has invested in rooftop solar startup SolarSquare through his family office Midas Deals. The special thing is that along with investment, Dhoni will now also play the role of brand ambassador of the company. However, the company has not disclosed how much amount Dhoni has invested.
Part of funding worth Rs 510 crore
This investment by Dhoni is part of SolarSquare’s recently completed Series C funding round of $ 53 million (about Rs 510 crore). This funding round is led by existing investor Lightspeed. Apart from this, Lowercarbon Capital, Rainmatter and Good Capital have also invested in the company. The company says that Dhoni’s joining shows its confidence in the potential of India’s domestic rooftop solar market.
There will be expansion in new cities
SolarSquare will use this new capital to rapidly expand its business. The company plans to expand to 30 to 40 new cities in the next phase. Apart from this, strengthening the technology platform, providing easy financing options to customers, improving customer service and after-sales support and making new recruitments are also among the priorities of the company.
Reaching more than 50 thousand houses
SolarSquare was founded in 2015 by Shreya Mishra, Neeraj Jain and Nikhil Nahar. Initially the company served commercial and industrial customers, but in the year 2021 it entered the domestic rooftop solar market. Today the company provides end-to-end services to customers such as solar system consulting, design, installation, financing, monitoring and maintenance.
The company claims that till now it has installed rooftop solar systems in more than 50,000 houses in 29 cities. SolarSquare has raised more than $100 million in funding so far and its annual revenue run rate (ARR) has reached nearly Rs 1,000 crore.
Solar market is growing rapidly
The domestic rooftop solar market in India is continuously growing rapidly. Rising electricity prices, government subsidies and increasing demand for clean energy are giving new impetus to this sector. SolarSquare estimates that there are about 7 crore houses in the country where rooftop solar systems can be installed. At the same time, industry experts believe that India’s cleantech market can become a $152 billion opportunity by 2030.
Dhoni’s third startup investment in 2026
Along with the investment in SolarSquare, this becomes Dhoni’s third startup investment in 2026. Before this, he has invested in startups like Kuku and LightFury Games. In recent months, many Indian cricketers have also been associated with startups. Rohit Sharma has become an investor and equity partner in fitness startup Fittr, while Ajinkya Rahane has invested in footwear brand Chupps and Ryan Parag in deeptech startup Proxgy. It is clear from this that Indian cricketers are now playing an active role not only on the field but also in startups and new businesses.
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