Bengaluru-based electric vehicle (EV) charging startup Exponent Energy has secured ₹200 crore (approximately $21.1 million) in an extended Series B funding round, marking a significant milestone in its mission to transform commercial EV charging infrastructure across India. The investment round was co-led by 360 One and TDK Ventures, highlighting growing investor confidence in India’s rapidly expanding electric mobility ecosystem.
The funding round also attracted participation from Hitachi Ventures, which made its first-ever energy-sector investment in India. Existing investors, including Lightspeed India, Eight Roads Ventures, 3one4 Capital, AdvantEdge VC, and YourNest, also participated. Notably, YourNest contributed an additional $4 million through its Continuum Fund. With this latest investment, Exponent Energy’s total funding has reached approximately $65.7 million since its inception.
Founded to Solve Commercial EV Challenges
Established in 2020 by former Ather Energy executives Arun Vinayak and Sanjay Byalal Jagannath, Exponent Energy focuses on solving key challenges in commercial electric mobility, particularly charging speed, battery performance, and operational efficiency.
The company has developed a proprietary charging ecosystem that combines battery packs, charging stations, battery management systems, charging algorithms, and off-board thermal management into a unified technology stack. This integrated approach allows compatible commercial EVs to achieve a full charge in just 15 minutes, significantly reducing downtime for fleet operators.
Expansion Plans Fueled by Fresh Capital
The investment from 360 One and TDK Ventures will support Exponent Energy’s ambitious “Exponent 2.0” growth strategy. The startup plans to expand its rapid-charging network beyond Bengaluru and Delhi into additional cities and major highway corridors across India.
The company also intends to enter new commercial vehicle categories, including heavy-duty vehicles and electric buses. Furthermore, a portion of the funding will be allocated to research and development, enabling the company to enhance its charging technology and strengthen its battery ecosystem.
Another key focus area will be expanding its retrofitting business, which helps convert existing three-wheelers into electric vehicles, further supporting India’s clean mobility transition.
Strong Industry Partnerships Drive Growth
Exponent Energy’s technology is already powering vehicles manufactured by Omega Seiki Mobility, Montra Electric, and Altigreen. Its charging infrastructure is also being utilized by leading fleet operators such as Magenta Mobility and Fyn Mobility.
The latest backing from 360 One and TDK Ventures underscores the increasing importance of advanced charging solutions in accelerating EV adoption. As demand for commercial electric vehicles continues to grow, Exponent Energy is positioning itself as a key enabler of India’s sustainable transportation future.
With strong investor support from 360 One and TDK Ventures, innovative technology, and expanding partnerships, Exponent Energy is set to play a crucial role in shaping the next phase of India’s electric mobility revolution.
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