Started with just Rs 15,000 capital, this bootstrapped startup now powers 8,000 rooftops across India

In 2016, Kuldip Sorathiya stood at a crossroads. Born into a farming family in Gujarat’s Kolda village and burdened by Rs 17 lakh in family debt, he had just seen his dream of studying in Canada collapse after being denied an education loan due to the absence of IT returns.

But where one door closed, another opened. A year later, with just Rs 15,000 in savings, Kuldip launched Ksquare Energy from a 150 sq. ft. rented room in Ahmedabad. That small bet has since grown into one of India’s most dynamic solar companies, serving over 8,000 households, supplying to more than 650 EPC firms, and ranking among the top 10 vendors under the PM Surya Ghar Yojana.

His entrepreneurial journey began as a commission agent, selling third-party solar products. But he quickly realised that the real value lay in controlling product quality and customer experience. Guided by consistent feedback and recurring field issues, he transitioned into manufacturing key solar components such as ACDBs, DCDBs, SCBs, MCBs, and cables. 

“Every recurring issue becomes a design improvement,” he said.

A Pan-India solar force

Seven years later, Ksquare Energy has grown into a 130-member company with a footprint across 23 states. It has completed more than 8,000 rooftop solar installations and supplies 700 to 800 components to 650+ EPC partners. 

The company operates out of warehouses in Ahmedabad, Pune, Lucknow and Bengaluru and is ranked among the top 10 vendors under the PM Surya Ghar Muft Bijli Yojana. This growth comes at a time when India’s rooftop solar segment is rapidly expanding.

According to Mercom India, rooftop solar installations surged 232% year-on-year in Q1 2025, touching over 1.2 GW. India’s cumulative rooftop solar capacity stands at approximately 18 GW, part of its total 110+ GW solar base. 

Ksquare follows a dual-pronged business model: offering EPC (Engineering, Procurement, and Construction) services while manufacturing critical components in-house. This approach gives the company control over quality, delivery, and product innovation. 

On the B2C front, the company focuses on rural and semi-urban homeowners looking for affordable yet reliable rooftop systems. For B2B clients, especially small and mid-sized EPC firms, it offers high-quality components that are field-tested and competitively priced. A standout initiative is its 5-Year Zero Loss Guarantee, which compensates clients if systems remain non-functional beyond 48 hours.

Solsquare and the innovation pipeline

Ksquare’s decision to enter cable manufacturing came from field realities. Quality issues in third-party solar cables were hurting system performance. In response, the company launched Solsquare, its proprietary brand of solar and electrical cables, known for superior insulation and compliance. Housed in a 4,500 sq. ft. manufacturing and R&D facility, the company also produces modular DCDBs and IoT-ready combiner boxes. 

Most importantly, it follows ISO standards and ensures CE and RoHS certification across its entire product range. Kuldip said that each unit is tested for voltage stability, thermal resistance, and load capacity before dispatch.

Digitisation and technology-led operations

Technology plays a critical role in how Ksquare operates. The company has embedded ERP-linked CRM systems for lead tracking and order management. On the manufacturing side, semi-automated production lines ensure precision, while mobile apps help field teams manage site surveys, documentation and post-installation updates. 

In its R&D pipeline, Ksquare is working on plug-and-play enclosures, smart SPDs with improved fault detection, and real-time monitoring solutions tailored for India's power conditions and remote geographies. 

Ksquare’s scale in government-backed rooftop programs is a result of deep operational design. Under the PM Surya Ghar Yojana, which aims to power 10 million households with rooftop systems, Gujarat leads with over 3.3 lakh installations.

The company’s dedicated compliance team handles inspections, document uploads and DISCOM coordination to speed up subsidy disbursals. It also adapts its strategy across markets. Gujarat is mature and policy-friendly. Rajasthan is fast-growing but subsidy-driven. Uttar Pradesh and Madhya Pradesh require on-ground handholding. Telangana shows demand for tech-integrated execution, particularly in urban areas.

Profitable since inception

Ksquare’s B2B sales channels include direct teams, EPC referrals and LinkedIn marketing. On the B2C side, it deploys WhatsApp automation, Google Ads and local field campaigns. It’s worth noting that all of its leads are tracked through a CRM that connects inquiry to final subsidy settlement. 

Financially, the company posted Rs 74 crore in revenue for FY 2023–24 and has remained profitable since inception. It reported 56% year-on-year growth and has set a target of Rs 225 crore by FY 2025–26, with an ambitious goal to cross Rs 1,000 crore by 2030.

Bootstrapped, but ready for strategic capital

Ksquare has achieved all of this 'success' without any external funding. The company has been entirely bootstrapped but is now open to raising strategic capital. 

According to Kuldip, the focus will be on expanding fulfillment centers, entering new geographies, and scaling product verticals like Blitz (SPDs) and hybrid inverters. 

Currently, Kuldip Sorathiya continues to lead the company’s strategy and investor engagement. His brother and co-founder, Kalpesh Sorathiya, is mentoring the team through its expansion, while Prakash Dobariya heads R&D and product development. The team is preparing to grow to 250 members and launch two new proprietary solar products by 2026.

The long-term mission

By 2030, Ksquare Energy wants to be more than just a solar brand. With plans for nationwide reach, global exports, and industry-first innovations, the company aspires to become a Rs 1,000 crore clean energy brand with a difference.

“We want to empower energy access and employment, not just with panels, but with purpose,” Kuldip says.