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Bengaluru-based commercial EV fast-charging infrastructure company Exponent Energy has raised ₹200 crore (approximately $21.1 million) in a funding round co-led by 360 ONE Asset and TDK Ventures. With this latest investment, the company's total funding since its founding in 2020 has reached $65.7 million.
The funding round also saw participation from all existing investors, including Eight Roads Ventures, Lightspeed, 3one4 Capital, and AdvantEdge VC. In addition, Hitachi Ventures, the venture capital arm of the Japanese industrial technology group Hitachi, made its first-ever investment in India's energy sector through this round. Early institutional backer YourNest also contributed an additional $4 million through its Continuum Fund.
Exponent Energy's core innovation is its proprietary energy stack, which integrates a battery pack, charging pump, and connector. The technology enables commercial electric vehicles to achieve a full charge in just 15 minutes while offering a 3,000-cycle warranty using standard lithium-ion cells. The system is designed to be interoperable, allowing drivers to charge at Exponent stations as well as conventional public and home charging points.
The company has built its growth strategy around three key pillars: its charging and battery technology platform, the Exponent OTO mobility platform, and the Exponent ONE financing and asset-management platform. According to the company, these solutions address the major barriers to commercial EV adoption, including reliable energy access, vehicle availability, and financing support.
The newly raised capital will be used to expand into new cities, enter additional vehicle segments, and strengthen research and development efforts.
Arun Vinayak, Founder and CEO of Exponent Energy, described the funding as a significant milestone for the company. He said that over the past five years, Exponent has validated its technology through millions of charging sessions in real-world conditions. Moving into what the company calls "Exponent 2.0," the focus will be on scaling this proven foundation into a broader energy platform for India's commercial EV ecosystem.
Investors highlighted Exponent's full-stack approach as a key differentiator. Tobias Jahn noted that the company's integrated battery and charging technology provides the foundation for its service guarantees and long-term recurring revenue potential.
Meanwhile, Sumit Jain said that Exponent Energy's model makes electric vehicles more commercially viable for fleet operators, which was a major factor behind the investment decision.
