Funding · Mobility & Logistics
Exponent Energy raises $26.4 million Series B
By Startup Enthusiast ·
- Date
- Company
- Exponent Energy
- What it does
- Rapid EV charging solutions
- Kind
- Funding
- Amount
- $26.4 million
- Stage
- Series B
- Based in
- Bengaluru
- Founded
- 2020
- Sector
- Mobility & Logistics
What they do
Exponent Energy provides rapid EV charging, claiming full charge in 15 minutes for any vehicle
What happened
It raised $26.4 million in Series B led by Eight Roads Ventures, with all existing investors participating
Why it matters
The company targets 1,000 charging stations and 25,000 EVs powered by 2025
The details
- Exponent Energy has raised $26.4 million in a Series B funding round.
- The round was led by Eight Roads Ventures, with TDK Ventures as a strategic contributor.
- All existing investors — Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Pawan Munjal — also participated.
- The company has now raised a total of $44.4 million to date.
- Exponent Energy offers rapid EV charging solutions, claiming a 100% charge in 15 minutes on any vehicle type.
- Its technology includes an e-pack integrated with OEMs and an e-pump network for logistics users.
- The company focuses on overcoming extreme heat and lithium plating on LFP cells to enable fast charging.
The bigger picture
- The funding comes as India's EV ecosystem expands, with rapid charging being a key bottleneck.
- Exponent Energy's claim of 15-minute full charge could differentiate it in a crowded market.
- The participation of all existing investors signals strong confidence in the company's technology and growth plan.
About the business
- Exponent Energy is a Bengaluru-based company providing rapid EV charging solutions.
- It claims to deliver a 100% charge in 15 minutes on any vehicle type.
- The company's technology includes an e-pack integrated with OEMs and an e-pump network for logistics users.
- It focuses on overcoming extreme heat and lithium plating on LFP cells for rapid charging.
- The company was pre-revenue in FY22, but had an average monthly run rate of over Rs 2 crore in FY24.
- It targets Rs 600 crore in revenue by 2025.
What happens next
- Exponent Energy plans to expand to 5 new cities by FY2024.
- It aims to enter the electric three-wheeler and intercity e-bus segments by 2024.
- The company targets 1,000 charging stations and 25,000 EVs powered by 2025.
The deal
- Type
- funding
Investors
- Eight Roads Ventures (lead)
- TDK Ventures (strategic contributor)
- Lightspeed (existing)
- YourNest VC (existing)
- 3one4 Capital (existing)
- AdvantEdge VC (existing)
- Family office of Pawan Munjal (existing)
Founders
- Arun Vinayak, Co-founder
- Sanjay Byalal, Co-founder
About Exponent Energy
- Product
- Proprietary battery packs and rapid-charging stations that fully charge EVs in 15 minutes
- Customers
- Commercial EV fleet operators and transportation companies
- How it makes money
- Infrastructure deployment with financing solutions for fleet operators
- What sets it apart
- Uses standard lithium-ion cells with interoperable charging infrastructure
- Operations
- Operates charging stations across Indian cities with expandable network
More on Exponent Energy
- Exponent Energy completes 200 EV retrofits in Bengaluru22 September 2026 · Launch
- Exponent Energy raises ₹200 Cr for EV charging10 June 2026 · Funding · ₹200 Cr ($21.1 Mn)
- Cofounder Sanjay Byalal Jagannath exits Exponent Energy27 May 2026 · People
- Exponent Energy raises Rs 182 crore extended Series B21 March 2026 · Funding · Rs 182 crore ($20 million)
- Exponent Energy launches EV financing arm Exponent One17 February 2026 · Launch · $2 Mn (₹18.2 Cr)
- Exponent Energy opens first retail store in Bengaluru1 December 2025 · Launch
- Exponent Energy launches retrofit tech for three-wheelers7 November 2025 · Launch
- Exponent Energy launches revamped 15-minute EV charger25 August 2025 · Launch