Xurya Reportedly Books Series A Funding of 200 Billion Rupiah

Xurya is rumored to have secured funding for a series A round worth $14 million or the equivalent of 200 billion Rupiah. Based on our data, this round was led by East Ventures and AC Ventures, two venture capitalists who were also involved in their early-stage funding.

New Energy Nexus Indonesia re-involved in this round, as well as Clime Capital through The Southeast Asia Clean Energy Facility (SEACEF) initiative.

When contacted DailySocial.id, Xurya's management team chose not to comment on this matter. However, it was also stated that in the near future the company will announce a strategic action [allegedly related to funding] to the public.

Xurya Daya Indonesia (Xurya) has several products, including solar-based energy solutions, which are applied to building roofs. This startup was founded in July 2018 by Eka Himawan, Edwin Widjonarko, and Philip Effendy. Currently the service is being offered in the commercial and industrial sectors in the Jabodetabek, East Java, Palembang and Makassar areas.

Currently they have around 50 customers, mostly from industrial circles. Produces the equivalent of 31,7 million kWh of green energy. Apart from installation and device services, they also develop an application platform to make it easier for asset owners to manage energy.

Apart from that, Xurya also pioneered the method no investment (no investment) to switch to solar on a monthly fee model. In their implementation, their solution is based on one pintu, Xurya will help from the design process, equipment selection, licensing, construction to the selection of financing products for solar electricity customers.

In a interview opportunity, Managing Director of Xurya Daya Indonesia Eka Himawan said, "Amidst the slowdown in PLTS utility investment, we believe that commercial and industrial customers have become a bright spot for electricity investors in Indonesia, not only from a profit perspective, but more importantly from a climate impact perspective ."

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 to all regions of Indonesia to offer solutions go green to more companies," concluded Eka.

Opportunities for developing PLTS Rooftops in Indonesia is very large, exceeding its potential capacity of 200 thousand megawatts. Currently the cost of Rooftop PLTS components is lower than other renewable energies, but this market has not been utilized optimally so less than 150 megawatts have been installed throughout Indonesia.

Apart from Xurya, in Indonesia there are already several startups that have played in this realm. Some of them are Warung Energi, Weston Energy, Forbetric, Erenesia, Khaira Energy, and Syailendra Power. Most work on the potential of solar power.