Heaptalk, Jakarta — Indonesia-based renewable startup Xurya, seized an investment of USD55 million, equal to Rp899 billion, led by Norfund’s Norwegian Climate Investment. Multiple investors backed the round, including Swefund, Clime Capital as the Manager of SEACEF ll, British International Investment (BII), and AC Ventures. By securing this additional fund, Xurya has pocketed the total fund of over USD88 million (around Rp1.4 trillion).
In 2022, this climate-tech startup also landed USD33 million in funds from several investors, covering Mitsui & Co., PT Surya Semesta Internusa Tbk (SSIA, Schneider Electric, New Energy Nexus, and East Ventures. With the current investment, this startup projects to further minimize 370,000 tons of CO2 emissions annually.
“The fresh injection would boost our competitiveness on a global scale. With the support of these leading investors, we will continue to innovate to bolster the national sustainable energy transition worldwide,” Managing Director of Xurya, Eka Himawan, responded to this fund accomplishment.
Founded in 2018, Xurya offers a zero-upfront-cost rooftop PLTS rental model for businesses to easily transition to renewable energy. Hitherto, Xurya boasted over 170 Rooftop Solar Power Plant (PLTS) installations spread across various Archipelago regions. Also, its PLTS has contributed to reducing around 152,000 tons of CO2 emissions annually and generated over 1,600 green jobs.
Leading the investment, SVP Renewable Energy at Norfund, Anders Blom, conveyed, “This investment aligns with the Climate Investment Fund’s objective to contribute to the reduction of Greenhouse Gas Emissions (GHG) through investments in the renewable energy sector in developing countries,”
Xurya is also an active member of the Indonesian Solar Energy Association (AESI) and participates as a trainer and expert in multiple “training of trainers” activities in the technical field of PLTS. As the year’s latest achievement, the startup received B Corp Certification in recognition of the company’s adherence to environmental, social, and governance (ESG) principles in its business operations.
“As the UK’s DFI, this investment represents our commitment to sustainable development and strengthens our partnership with the Indonesian nation in achieving a greener and more resilient future. This is especially significant as we celebrate 75 years of diplomatic relations between the UK and Indonesia this year.” Srini Nagarajan, Managing Director and Head of Asia at BII, said.
