Exponent Energy Raises ₹200 Cr To Expand Commercial EV Charging Network

Bengaluru-based Exponent Energy has raised ₹200 crore ($21.1 million) in a funding round co-led by 360 ONE Asset and TDK Ventures, as the company looks to expand its rapid-charging network, enter new vehicle categories and strengthen research and development efforts in India's commercial electric vehicle (EV) ecosystem.

The latest round marks 360 ONE Asset's first investment in the EV sector and Hitachi Ventures' first investment in India's energy sector. Existing investor TDK Ventures also increased its stake through a follow-on investment. The funding round saw participation from all existing investors, including Eight Roads Ventures, Lightspeed, 3one4 Capital and AdvantEdge VC. YourNest, Exponent's first institutional investor, invested an additional $4 million through its Continuum Fund.

With this round, the six-year-old company has raised a total of $65.7 million since inception.

Exponent Energy is building charging infrastructure for commercial EVs and aims to position itself as an energy partner for original equipment manufacturers (OEMs). The company offers an integrated platform comprising its proprietary battery and charging technology, mobility platform Exponent OTO, and financing and asset management arm Exponent ONE.

The company said the fresh capital will be used to expand operations across new cities, enter additional vehicle categories and deepen investments in technology development.

"Exponent is solving the hard problems in commercial EV adoption through its full-stack ultra-fast charging platform spanning batteries and charging infrastructure," said Sumit Jain, Head of Venture Growth Investments at 360 ONE Asset. He added that the firm sees Exponent as a potential leading energy platform for an electric-first India.

Hitachi Ventures Partner Tobias Jahn said Exponent's integrated battery and charging ecosystem creates a strong competitive advantage and enables recurring revenue opportunities. "We are excited to partner with Exponent, our first energy investment in India," he said.

TDK Ventures Investment Director Ravi Jain said the company has evolved from a rapid-charging technology provider into a broader energy and asset management platform serving India's commercial EV market.

Exponent Founder and CEO Arun Vinayak said the company had spent its initial years developing and validating its technology in real-world conditions. "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," he said.

The company claims its proprietary energy stack enables EVs to be charged in 15 minutes while offering a 3,000-cycle battery life warranty using conventional lithium-ion cells. It also emphasises interoperability, allowing users to charge vehicles at Exponent stations as well as at conventional public charging stations and home charging points.

The fundraise comes as India's commercial EV segment continues to attract investor interest amid rising adoption of electric mobility, increasing focus on charging infrastructure and government efforts to accelerate the transition away from fossil fuels.