From ₹15,000 To 8,000 Rooftops: How This Bootstrapped Startup Is Powering India’s Solar Revolution
In 2016, Kuldip Sorathiya was facing setbacks. A farmer’s son from Kolda village in Gujarat and saddled with ₹17 lakh in family debt, his aspirations of studying in Canada were dashed when he was denied an education loan. But rather than giving up, he turned a roadblock into a launchpad.
With just ₹15,000 in hand, Kuldip founded Ksquare Energy from a 150 sq. ft. rented room in Ahmedabad. What began as a modest commission-based business has since transformed into a pan-India solar tech startup, powering over 8,000 rooftops and partnering with more than 650 EPC firms. Today, Ksquare is one of the top 10 vendors in the PM Surya Ghar Muft Bijli Yojana – that says a lot about its size and the impact its had.
Reseller to Manufacturer: A Pivot That Changed Everything
Kuldip started Ksquare with third party solar products as a reseller, but field feedback and poor quality made him realize he wanted an overhaul of ownership. He began manufacturing critical solar components like ACDBs, DCDBs, SCBs, MCBs, and cables so Ksquare had ownership of quality, innovation, and customer experience.
Sustainable Growth throughout India
Ksquare Energy is currently made up of a 130-member team across 23 states, and operates out of warehouses in Ahmedabad, Pune, Lucknow, and Bengaluru. It partners with EPC companies to supply 700-800 components each month, dedicatedly creating a stronghold in India’s rapidly growing rooftop solar industry, which had a year-over-year growth of 232% in Q1 2025, according to Mercom India.
Ksquare’s hybrid model provides EPC (Engineering, Procurement, and Construction) services and manufactures critical solar products in-house. This model allows the company to manage the entire process from innovation to installation.
B2C and B2B: Powering Homes and Businesses
The Ksquare B2C strategy has primarily fixed on rural and semi-urban residential customers, with affordable and reliable rooftop solar. B2B clients, principally small and mid-sized EPC companies benefit from affordable and tested-on-the-field components. Ksquare offers its clients a 5-Year Zero Loss Guarantee, which compensates the customer for any downtime greater than 48 hours.
Innovating with Solsquare and R&D
Ksquare recognized quality issues with most cables and subsequently launched Solsquare—its own brand of solar and electrical HDMI quality cables where thermal stability and longevity are its key characteristics. From a dedicated 4,500 sq. ft. manufacturing and R&D facility, it now produces modular DCDBs and IoT-ready combiner boxes, all ISO, CE, and RoHS certified.
Tech-Driven from Ground Up
Technology sits at the heart of Ksquare’s operations. An ERP-integrated CRM handles lead tracking, logistics, and subsidy settlement.Semi-automated production lines increase precision and mobile applications will assist field teams with real-time insights on surveys, installations, and updates. Future research and development work on smart SPDs, plug and play enclosures, and IoT-based systems for remote monitoring based on Indian conditions. Cracking Government Solar Programs at Scale Ksquare’s success under the PM Surya Ghar Yojana is due to strong operating planning. A dedicated team manages inspections, documentation, and coordination with DISCOMs to streamline subsidy disbursals. Market strategies are adapted state-wise—whether it’s Gujarat’s maturity, Rajasthan’s subsidy-driven growth, or the need for deep on-ground support in UP and MP.
Unfunded Growth — for Now
Ksquare, while remarkable in scale, is 100% bootstrapped. The start-up has revenue of ₹74 crore for FY 2023-24, with a 56% year-on-year growth rate and a target of ₹225 crore for FY 2025-26. They are targeting ₹1,000 crore by 2030.
For the first time, they are interested in strategic capital to help accelerate growth, launchal new markets, and new verticals such as Blitz (SPDs) and hybrid inverters.
Led by Founders with a Mission
Kuldip Sorathiya, the Founder-CEO, drives Ksquare’s strategy and investor relations, whilst his brother and co-founder Kalpesh Sorathiya is mentoring growth in operations, and Prakash Dobariya leads R&D to launch more products to market and services in the next tier of growth. Ksquare’s plan is to scale up to 250 employees and launch at least two new solar unit products by 2026.
