Xurya Daya, a solar power rental and installation startup, received additional Series A funding from global trading and investment company Mitsui and Surya Semesta Internusa Tbk, bringing the total Series A funding round to $33 million.
According to Eka Himawan, Managing Director and Co-founder of Xurya, the company plans to allocate funding for expanding solar power development. 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.
Xurya, previously received Series A funding of $21.5 million in December 2021 from East Ventures (Growth fund), Saratoga, Schneider Electric, and New Energy Nexus.
“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,” said the President Director of PT Surya Semesta Internusa, Johannes Suriadjaja.
As of September, the company operated Rooftop Solar Power in more than 60 companies.
Recently, ecoligo, a provider of fully financed solar-as-a-service solutions for businesses in emerging markets, raised €10 million (~$9.83 million) in a Series A funding round. The investment was provided by a new investor FRV-X, a venture division of Fotowatio Renewable Ventures (FRV), a global sustainable energy developer and power producer.
According to Mercom’s recently released 9M and Q3 2022 Solar Funding and M&A Report, in 9M 2022, venture capital (VC) funding activity rose 150%, with $5.5 billion in 72 deals compared to the $2.2 billion raised in 39 deals in 9M 2021.
Earlier this year Ojjo, a developer and manufacturer of next-generation solar foundations, secured $40 million in a Series C funding round led by NGP ETP, the energy transition investing platform of NGP, with Ajax Strategies. As part of the investment, James Wallis, Partner at NGP, has joined Ojjo’s Board of Directors.