Bengaluru-headquartered Exponent Energy has raised ₹200 crore ($21.1 million) in a funding round co-led by 360 ONE Asset and TDK Ventures. The latest investment brings the company's total funding raised since inception to $65.7 million.
The round also saw participation from Hitachi Ventures, which made its first investment in India's energy sector through this transaction. Existing investors including Eight Roads Ventures, Lightspeed, 3one4 Capital, AdvantEdge VC, and YourNest also participated in the funding round. YourNest invested an additional $4 million through its Continuum Fund.
Capital to Support Expansion
According to the company, the newly raised funds will be used to expand operations into additional cities, support entry into new vehicle categories, and increase investments in research and development.
Exponent Energy currently focuses on developing charging and energy solutions for electric commercial vehicles. The company has been operating for six years and is working on infrastructure aimed at supporting EV adoption in commercial mobility applications.
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Focus on Integrated EV Ecosystem
The company is building an ecosystem that combines its charging technology, battery systems, mobility platform, and financing solutions. Through these offerings, Exponent aims to address vehicle financing, charging infrastructure, and energy management requirements for commercial EV operators.
Its Exponent OTO platform supports vehicle operations, while Exponent ONE provides financing and asset management services.
Charging Technology and Network
Exponent Energy's charging platform is designed to enable rapid charging for electric vehicles. The company states that its technology can deliver a full charge in approximately 15 minutes while using conventional lithium-ion battery cells.
The company's charging ecosystem is also designed to be interoperable, allowing vehicles equipped with Exponent's technology to charge at Exponent-operated stations as well as at compatible public charging stations and home charging setups.
Investor Participation
The funding round marked 360 ONE Asset's first investment in the electric vehicle sector. TDK Ventures, which had previously invested in Exponent Energy, participated through a follow-on investment, while Hitachi Ventures entered as a new strategic investor.
The participation of both new and existing investors reflects continued interest in the development of charging infrastructure and energy solutions for India's growing electric commercial vehicle market.
Commenting on the fundraise, Sumit Jain, Head, Venture Growth Investments, 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.”
Sharing insights on the investment, Ravi Jain, Investment Director, 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 & CEO, 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 globally in energy technology for commercial vehicles. Millions of charging sessions and three-plus 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.”
Elctrik Speaks
The latest funding round highlights continued investor interest in technologies supporting commercial electric mobility in India. As fleet operators increasingly focus on reducing operating costs and improving vehicle uptime, charging infrastructure and energy management solutions are becoming important parts of the EV ecosystem. Exponent Energy's planned expansion into new cities and vehicle segments comes at a time when demand for commercial EV charging networks is gradually expanding across multiple urban markets.