EV Charging Startup Exponent Raises $13 Million In Series A Funding

Exponent Energy, a startup simplifying energy for EVs, has announced that it has raised $13 Million in a Series A funding round led by Lightspeed, with all existing institutional investors such as YourNest VC, 3one4 Capital & AdvantEdge VC also participating. 

The company says that the amount raised will be utilised to scale up the e^pump network to 100 location points per city, starting with Bengaluru; streamline e^pack production, and deliver more Exponent enabled EVs. 

Earlier this month, Exponent Energy partnered with Altigreen to make rapid charging a reality for eCVs on Indian roads. They unveiled the fastest charging electric 3-wheeler that rapidly charges from 0-100 per cent within 15 minutes. Customer deliveries of Exponent Enabled NeEV HD will begin from October 2022.

Previously Exponent Energy has raised $6mn in Seed and Pre-Series A round from investors such as the family office of Pawan Munjal, Chairman, and CEO, Hero MotoCorp, Motherson Group along with YourNest VC, 3one4 Capital, AdvantEdge VC and a few angel investors.