PT Xurya Daya Indonesia (Xurya), a solar power rental and installation startup, has received additional series A funding from global trading and investment company Mitsui & Co., Ltd. (Mitsui) and PT Surya Semesta Internusa Tbk (SSIA).

Xurya said in a statement, its total funds obtained through series A reached 33 million US dollars following the raise.

Xurya Managing Director and Co-Founder Eka Himawan said the funding will be allocated to support the expansion of solar power development to accelerate the clean and sustainable energy transition for companies in Indonesia.

“Mitsui and Surya Semesta Internusa also provide strategic partnerships to reach out to the potential customers in Indonesia,” he said.

According to him, Xurya plans to allocate funding for the expansion of solar power development have tripled since the beginning of 2022.

“In addition, these funds will be used for technological developments and adding human resources to boost the company’s performance in accelerating the implementation of renewable energy for clean and sustainable energy in Indonesia,

“Especially at this time, the Ministry of Energy and Mineral Resources (ESDM) has targeted the new and renewable energy mix to reach 23 percent by 2025,” he said.

Established in 2018, Xurya aims to become a leader in the development of clean and sustainable energy technologies and solutions.

The firm helps companies in Indonesia to use solar energy without any investment, by providing added value for commercial and industrial building owners, starting from investment feasibility studies, installation, operation and maintenance on a regular basis by providing rental schemes for building owners to enjoy savings electricity without investment.

Xurya is committed to using energy wisely and carrying out the company’s operational activities responsibly for environmental sustainability.

Hiromu Kayamori, General Manager of New Downstream Business Division of Mitsui said the firm is committed to developing and promoting technologies and new business that reduces environmental impact globally.

“We aim to contribute to Xurya’s growth and Indonesia’s decarbonization by leveraging our expertise cultivated all over the world and extensive networks in Indonesia,” he said.

Xurya previously received Series A funding of $21.5 million in December 2021 from East Ventures (Growth fund), Saratoga, Schneider Electric, and New Energy Nexus.

The firm received critical early-stage capital from Singapore-based SEACEF, a fund of Clime Capital dedicated to preparing promising clean-power businesses for larger-scale investment. 

By the end of September 2022, Xurya’s business has grown very rapidly and now operates Rooftop Solar Power in more than 60 companies and is currently installed in more than 40 other companies.

“This funding is a form of our support to accelerate the use of new and renewable energy through the installation of solar panels (PLTS Roof), one of which is in industrial areas, as well as our commitment to creating an inclusive and sustainable industrial area in Indonesia,” said President Director of PT Surya Semesta Internusa Tbk (SSIA), Johannes Suriadjaja.

Indonesian renewable energy startup Xurya receives $21.5M Series A funding led by East Ventures and Saratoga