Indian rooftop solar startup SolarSquare is in advanced discussions to raise roughly $55 million to $60 million in a funding round expected to close next month, according to multiple reports. The company’s valuation in the proposed financing is reported to be between $450 million and $500 million, implying the round would more than double its valuation from about 18 months earlier. SolarSquare is described as having powered around 50,000 homes. The financing is expected to be structured as a Series C, with B Capital and Lightspeed Venture Partners reported to co-lead the round. The reports also note that the expected $60 million round could value the company at up to $500 million. Taken together, the coverage indicates that investor interest in India’s rooftop solar market is increasing and that SolarSquare is positioning itself to expand further as it completes the next stage of fundraising. The exact final terms depend on the closing of the talks and the agreed valuation within the reported range.