Jakarta, 20th October 2022 - PT Xurya Daya Indonesia (Xurya), a solar power rental and installation startup, received additional series A funding from global trading and investment company Mitsui & Co., Ltd. (Mitsui) and PT Surya Semesta Internusa Tbk (SSIA). The total funds obtained through series A reached 33 million US dollars or equivalent to IDR 510 billion on October 20, 2022.

 

Xurya's Managing Director and Co-Founder, Eka Himawan said, "We appreciate the trust given by Mitsui, Surya Semesta Internusa, our partners, and Xurya customers. 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.”

 

According to Eka Himawan, 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% by 2025.

 

Hiromu Kayamori, GM of New Downstream Business Div. of Mitsui, said “We are 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.”

 

Xurya, which previously received Series A funding of US$ 21.5 million in December 2021 from East Ventures (Growth fund), Saratoga, Schneider Electric, and New Energy Nexus, has now received additional funding from Mitsui and PT Surya Semesta Internusa Tbk (SSIA), bringing the total funding to US$ 33 million or equivalent to IDR 501 billion. Xurya 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.

 

President Director of PT Surya Semesta Internusa Tbk (SSIA), Johannes Suriadjaja said "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."