Shardul Amarchand Mangaldas & Co (SAM) and CMS IndusLaw have assisted on SolarSquare’s INR5.08 million (USD53 million) series C funding.
Existing investors Lightspeed, Lowercarbon Capital, Good Capital, Zerodha and Better Capital also participated in this funding round.
Partner Manish Gupta led the SAM team acting for SolarSquare, with the support of principal associate Rashi Singh, senior associate Vivek Tiwari and associate Adarsh Mishra. The due diligence team also assisted.
SAM advised SolarSquare on all legal aspects of the transaction, including the drafting, negotiation and finalisation of agreements for the share subscription, shareholders, share purchases, founders’ employment and other ancillary transaction documents. The firm also conducted vendor legal due diligence.
The CMS IndusLaw transaction team representing B Capital comprised partner Winnie Shekhar, counsel Rajat Jain, senior associate Ravishankar M and associate Arnab Chakraborty. The firm’s corporate secretarial team comprised executive director Ruhi Jain.
SolarSquare is a leader in India’s residential solar sector, designing, installing and maintaining rooftop solar systems for homes, housing societies and enterprises.
The company has installed more than 150MW of solar capacity across 29 cities in nine states, serving nearly 50,000 homes and around 400 housing societies, while also delivering rooftop solar solutions for leading enterprises. The funding will support the company’s expansion, strengthen its technology and operational capabilities, and accelerate its growth.
