According to Shreya Mishra, Co-Founder of SolarSquare, the funding will primarily be utilised to expand the company’s presence and enhance its technological capabilities. “Solar is actually a grassroots revolution. Every home in every tier-I, tier-II, tier-III city, even rural India, will want to go solar,” Mishra stated. While SolarSquare currently operates in 20 cities, the company plans to extend its reach to the top 50 cities across India.
As a full-stack solar solutions provider, SolarSquare is focused on delivering end-to-end services, from the procurement of over 70 components necessary for a solar system to the custom design of installations suited to the unique rooftops of Indian homes.
Mishra emphasised the importance of maintaining control over the entire value chain, stating, “Solar is a unique category. Unlike consumer durables, it’s not a plug-and-play product. It’s a full solution that goes into a customer’s home,” she explained. This approach includes handling government permits, ensuring high-quality installations, providing financing options, and offering comprehensive after-sales support.
According to Mishra, SolarSquare is the first company in India to introduce a savings guarantee with its solar installations. “We’re not just giving a hassle-free installation experience to the customer. We’re also taking responsibility of the performance of solar thereafter. So we give a five-year savings guarantee to the consumer. We’re the only company in India to guarantee that, which means if there is any deficit in power production, we actually pay back the customer,” she stated.
Mishra highlighted that with a run rate exceeding ₹400 crores, SolarSquare aspires to grow 10 times in the next five years. She added that the company is also on track to achieve profitability within the next two years, further solidifying its position in the growing solar sector.
In a separate development, Curebay, a healthcare startup, has reported an 8x growth in its Gross Merchandising Value (GMV) for the first half of fiscal year 2025 compared to last year.
The company’s Annual Recurring Revenue (ARR) reached ₹128 crore and is on track to hit ₹200 crore by March 2025.
According to Priyadarshi Mohapatra, Founder and CEO of Curebay, the company’s success is attributed to its innovative hybrid model, which combines technology with human care. Curebay has created a robust platform for healthcare service providers to connect and deliver services through a technology-driven approach. On the demand side, the startup has established a network of clinics manned by trained healthcare professionals, including nurses and pharmacists, who add a personal touch to healthcare delivery.
A key component of this model is Curebay’s network of Swasthya Mitras, individuals from local communities who extend the company’s healthcare services to people’s doorsteps. According to Mohapatra, this model has played a vital role in bridging the gap between clinical services and community-based healthcare, especially in remote areas.
Mohapatra noted, “There was a myth that rural people don’t pay. And we were absolutely clear that we’re going to prove this is an urban myth.” Curebay’s experience shows that rural communities are willing to pay for healthcare services if they are accessible, affordable, and of high quality. The company has demonstrated that when dignity of care is prioritised and services are offered at the right price, people in rural areas are ready to invest in their health.
Curebay’s business model is growing not only in terms of revenue but also in geographic reach. The company currently operates in Odisha and Chhattisgarh and is set to expand into Jharkhand. Mohapatra states that Curebay plans to raise additional funds in its upcoming Series B round, enabling further expansion into new markets. Over the next four to five years, Curebay aims to enter six more states, with plans to establish a network of over 800 clinics across 16 circles.
Additionally, Manish Gupta, General Partner at Growx Ventures, provided an overview of the investment strategy for the company’s second fund, Growx Ventures Fund II. The fund has a target corpus of ₹400 crore and aims to invest up to ₹10 crore in seed rounds and up to ₹30 crore in Series B rounds. Through this fund, Growx Ventures plans to support around 20-24 startups across diverse sectors, including semiconductors, defence technology, space technology, alternative materials, and advanced manufacturing.
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