Xurya Confirms Series A Funding of 308 Billion Rupiah
Renewable energy startup Xurya announced a series A funding round of $21.5 million (approximately 308 billion Rupiah) led by East Ventures (Growth Fund) and PT Saratoga Investama Sedaya Tbk (Saratoga).
This confirmed value is greater than the information that DailySocial.id received in December 2021 of $14 million. Schneider Electric and New Energy Nexus Indonesia, former investors from Xurya, participated in the round.
Last year, New Energy Nexus Indonesia completed its investment in five renewable energy companies. Meanwhile, Schneider Electric, through Schneider Electric Energy Access Asia (SEEAA) made its investment debut in a renewable energy startup in Indonesia for Xurya.
Xurya will allocate the fresh funds to continue the construction of PLTS Roof, technology development, and human resources. That efforts to accelerate the clean energy transition immediately realize.
“We appreciate the support and trust given by investors, partners and customers to assist us in accelerating the transition to new renewable energy in Indonesia since Xurya founded three years ago,” said Managing Director of Xurya Daya Indonesia Eka Himawan in an official statement, Wednesday (12/12). /1).
Solar Power Plants Can Provide Environmentally Friendly Solutions
East Ventures Managing Partner Roderick Purwana said, “East Ventures believes in the importance of investing in the right companies, not only to pursue profit, but also to provide social and environmental impact.”
As one of the pioneers of VC to apply the ESG approach to investment, East Ventures is very pleased to be able to support the Xurya team from the very beginning of their journey in creating a clean and sustainable energy revolution in Indonesia. As well as protecting the earth.
Saratoga President Director Michael Soeryadjaya added, “This investment is a good opportunity for Saratoga to strengthen support in the New & Renewable Energy (EBT) technology sector, which is now one of the priority energy sources to be developed by the government.”
According to him, Rooftop Solar Power Plants (PLTS) can provide a solution for the availability of clean, environmentally friendly and sustainable energy in Indonesia.
Installed capacity of Rooftop PLTS growth is very rapid in the last 3 years. It proves that the need for the NRE technology industry is getting higher. Saratoga can help accelerate the government’s efforts to achieve the NRE mix target as the government-supported initiatives.
The company has operated 57 Rooftop Solar Power Plants by the end of 2021. And it’s currently building in 38 other locations from various industries and increasingly diverse businesses.
Xurya Daya Indonesia (Xurya) has several products, including solar-based energy solutions, which are applied to building roofs. To installation and equipment services, the company is also developing an application platform to make it easier for asset owners to manage energy.
Xurya also pioneered the no-investment method to switch to solar power with a monthly fee model. In its implementation, their solution is based on one door, Xurya will help from the design process, equipment selection, licensing, construction to the selection of financing products for solar electricity customers.
Eka said, “Amid the slowdown in PV mini-grid investment, we believe that commercial and industrial customers have become a bright spot for electricity investors in Indonesia. Not only from a profit perspective, more importantly from a climate impact.”
In presenting their products, Eka admits that consumer education is one of the toughest challenges. Because there are still many companies and individuals who do not understand solar panels and many have the wrong idea about the electrical stability of PLTS.
“The main target this year is to expand its business throughout Indonesia to offer go green solutions to more companies.” The opportunity for the development of Rooftop Solar Power Plants in Indonesia is very large. Exceeding its potential capacity of 200 thousand megawatts.