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Solar start-up Xurya secures $55m for global market push
With this additional investment, it brings the total founds obtained to more than $88 million, the start-up announced on Monday.
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With this additional investment, it brings the total founds obtained to more than $88 million, solar start-up Xurya announced on Monday.
(Courtesy of/Xurya)
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T Xurya Daya Indonesia (Xurya), a solar power rental and installation start-up, has secured US$55 million worth of new funding, which the company plans to use to fuel the firm’s goal of competing in the international market.
With this additional investment, Xurya had received over $88 million in total funding, the start-up announced on Monday.
“With the support of these world-class investors, we will not only continue to innovate to support the national sustainable energy transition but also aim to become a global company in the coming years,” Xurya managing director Eka Himawan said in a statement.
The investment comes from funds managed by Norwegian’s Norfund, Sweden's Swedfund, Singaporean Clime Capital, British International Investment (BII) and AC Ventures.
The first three are known to manage the Norwegian Climate Investment Fund, the Development Finance Institution and the Southeast Asia Clean Energy Fund II (SEACEF II), respectively.
It was the first time Norfund, Swedfund and the BII provided funding for the company while the rest had participated in earlier funding.
Read also: Indonesia to abandon 23% renewable energy target
