India’s SolarSquare is raising $60M at a $500M valuation. It has powered 50,000 homes.

SolarSquare, an Indian rooftop solar startup, is in advanced talks to raise $55 million to $60 million at a valuation between $450 million and $500 million, TechCrunch reports. B Capital and Lightspeed Venture Partners are set to co-lead the Series C round. The deal would more than double SolarSquare’s valuation from 18 months ago.