Harnessing the sun: Shreya Mishra has powered 15,000 Indian homes with solar energy

About a decade ago, Shreya Mishra could have hardly imagined herself as an entrepreneur in the renewable energy sector. 

Raised in a family steeped in the stability of government service—her father an IAS officer, and her extended family comprising lawyers and bureaucrats—Shreya says she was expected to follow their example and find a secure job.

However, her experience at IIT Bombay exposed her to a world of boundless opportunities and ignited an entrepreneurial spark within her.

While at IIT Bombay, Mishra witnessed a surge of startups founded by fellow alumni, inspired by the influx of Silicon Valley culture into India. This environment of innovation and risk-taking drew Mishra towards entrepreneurship. 

Among many such pivotal moments was a business idea contest at IIT, where she won a prize of Rs 5 lakh and an opportunity to attend an entrepreneurship boot camp at Stanford University. 

“This opportunity led me to meet student entrepreneurs from around the world. We made visits to iconic company offices like Dropbox and Airbnb,” she says. “I knew then that my career was going to be in entrepreneurship.”

Years later, her journey would lead her to the helm of Solar Square, providing safe solar solutions for residential and commercial customers. 

Early entrepreneurship years and lessons

Mishra’s first venture was a small magazine business for school children that informed them about career choices and competitive exams. This experience taught her valuable lessons about sales, customer understanding, and pricing. 

By 2012, Mishra realised she needed to gain real-world experience, and joined the Boston Consulting Group, later transitioning into private equity and gathering crucial insights over three years.

In 2015, Mishra launched her first full-fledged startup, Flyrobe, a fashion rental service. Despite initial successes, including raising $10 million in funding and garnering attention from renowned investors, the company faced challenges and was eventually sold. 

“My journey with Flyrobe taught me critical lessons about the importance of product-market fit, the scale of opportunity, and the honesty required in evaluating business prospects. I learnt through the hard way what it takes to build a sustainable business,” says Mishra.

Powering homes with solar energy

In 2019, after selling Flyrobe, Mishra joined her husband's company, Solar Square, which initially functioned as a B2B solar business. 

Together, they envisioned a shift towards the consumer market, focusing on residential solar solutions. This transition came with its own challenges, particularly in an industry dominated by male professionals and characterised by technical and field-intensive work. 

Under Mishra’s leadership, Solar Square set out to address the trust deficit in the residential solar market. 

“Our top priority was to create the safest solar solutions for homes. We introduced cyclone-proof installations, and offered performance guarantees to alleviate consumer concerns about investment returns,” says Mishra.

In just three years, Solar Square expanded from zero to over Rs 300 crore rupees in revenue from the residential sector, alongside their established B2B operations. 

They now boast a client base of over 15,000 homes, 150 housing societies, and 500 commercial customers, including major corporations like Johnson & Johnson and Swiggy.

A promising space for women

Mishra says her entrepreneurial journey has been defined by continuous learning and adaptation, including navigating the challenges of scaling up in the  renewable energy sector which is fast growing. 

“As a woman in a predominantly male industry, I wouldn’t say I ever felt disadvantaged. Instead, I recognise my own privilege and the support I have received from my colleagues, investors, and family. I am well aware that less than 15% women constitute the organised workforce” says Mishra. 

On the other hand, she does recognise the unique challenges faced by working mothers - something she feels needs more awareness-building and support.

“When I joined, there was one woman in a 30-member male team. Today we have 75 women. We are hiring actively and there is immense scope for women in the solar revolution that is currently underway in India.”