Aditya Hadi Pratama · · 1 min readEast Ventures leads $21.5m round of Indonesian ☀️ energy firm
Xurya, an Indonesia-based renewable energy startup, has raised US$21.5 million in a series A round led by East Ventures (Growth Fund) and Saratoga Investama Sedaya, with participation from New Energy Nexus Indonesia and Schneider Electric.
Xurya team / Photo credit: Xurya
Xurya helps companies deploy solar panels on the rooftops of their commercial and industrial buildings, including factories, cold storages, hotels, and shopping centers.
The startup plans to use the fresh funds to build more solar power plants across the country. It currently operates 57 plants across Java, Sumatera, and Sulawesi, and it is in the process of building 38 more.
The company was founded in 2018 by Eka Himawan, who established babycare ecommerce platform Bilna in 2012, and Edwin Widjonarko, who previously worked as an engineer for Intel.
In 2018, Xurya acquired seed funding from East Ventures and Agaeti Ventures. Last year, the startup raised an undisclosed amount from New Energy Nexus, Schneider Electric, and Crevisse Partners.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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