Exponent Energy, a Bengaluru-based energy-tech company with financial backing from the family office of Hero MotoCorp Chairman and CEO Pawan Munjal, and building the rapid-charging backbone for India’s commercial electric vehicle (EV) transition, has raised ₹200 crore ($21.1 million) in a funding round co-led by 360 ONE Asset and TDK Ventures.
The round marks 360 ONE Asset’s maiden investment in the EV sector. It also marks Hitachi Ventures’ first investment in the energy sector in India, signalling a strategic vote of confidence from one of the world’s leading industrial technology groups. TDK Ventures, an existing backer, increased its stake through a follow-on investment.
The round saw participation from all of Exponent’s existing investors, including Eight Roads Ventures, Lightspeed, 3one4 Capital and AdvantEdge VC. YourNest, Exponent’s first institutional backer, invested $4 million through its Continuum Fund.
The participation of all existing investors, alongside new financial and strategic partners, reflects growing conviction in Exponent’s approach to solving energy challenges for mobility.
The fresh capital will accelerate Exponent’s expansion into new cities and vehicle categories and deepen investment in research and development (R&D). With this fundraise, the six-year-old company has raised $65.7 million since inception.
Exponent’s ambition extends beyond charging to becoming the preferred energy partner for original equipment manufacturers (OEMs) in India.
The company is building an integrated ecosystem for an all-electric future, combining its proprietary energy stack (battery and charger), Exponent OTO mobility platform, and Exponent ONE financing and asset-management arm to address three major barriers to commercial EV adoption simultaneously: energy, vehicles and access to capital.
The goal is to power millions of commercial vehicles across India and make electric mobility a more rapid, reliable and affordable energy choice than petroleum.
Sumit Jain, Head of Venture Growth Investments at 360 ONE Asset, said: “Exponent is solving the hard problems in commercial EV adoption — balance between cost, practicality and ability for operators to access the incredible TCO advantage offered by the EV paradigm — all through its full-stack ultra fast-charging platform that spans both battery and a purpose-built charging ecosystem.
“We are backing Exponent to become the leading energy platform for an electric-first India, and we have deep conviction that the Exponent team led by Arun are best placed to achieve this vision.”
Speaking about the investment, Tobias Jahn, Partner at Hitachi Ventures, said: “Exponent sells fleet uptime and energy charging — their complete battery and charging stack is what guarantees that promise. That full-stack proprietary solution is what builds the moat, and the recurring revenue flywheel from here is what makes this a genuinely exciting EV charging investment. We are truly excited to partner with Exponent, our first energy investment in India.”
Ravi Jain, Investment Director at TDK Ventures, said: “Our continued investment in Exponent Energy reflects our strong conviction in their vision. What began as a breakthrough 15-minute rapid-charging technology has evolved into a full-stack energy and asset-management platform. Arun and his team are building the energy backbone for India’s commercial EV market, and we are excited to support Exponent’s expansion into new categories and markets.”
Speaking about the fundraise, Arun Vinayak, Founder and CEO of Exponent Energy, said: “We are excited to welcome the new investors to our cap table and grateful to our existing investors for their continued backing. Their belief in Exponent is grounded in years of patient execution and a conviction that we have the right to be a large energy player in an all-EV world.”
“We pioneered rapid charging globally and remain the leader in energy technology for commercial vehicles. Millions of charging sessions and more than three years of field performance later, we have proven this isn’t a lab concept — it’s a road reality, at price points and reliability that matter.”
“This funding comes at a defining moment. The first five years were about building the core technology and proving rapid charging works reliably. Exponent 2.0 is about leveraging that foundation to build a category-defining energy company for electric mobility. With this capital, we are well-positioned to expand our footprint, enter new segments, and accelerate the transition to commercial EVs across India.”
Exponent’s proprietary energy stack enables a 15-minute rapid charge for EVs while offering a 3,000-cycle life warranty using regular lithium-ion cells.
A key differentiator of the Exponent ecosystem is interoperability. This allows drivers to rapidly charge vehicles at any Exponent station while retaining the flexibility to use regular-speed public charging stations or home charging whenever required.
Source link
#Bengalurubased #rapid #charging #firm #Exponent #Energy #raises #crore
