Exponent Energy Raises ₹200 Crore in New Funding Round

Exponent Energy, a Bengaluru-based company building rapid-charging infrastructure for commercial electric vehicles, has closed a ₹200 crore ($21.1 million) funding round co-led by 360 ONE Asset and TDK Ventures. The raise brings the company's total funding since its 2020 founding to $65.7 million.

The round saw all of Exponent's existing investors — including Eight Roads Ventures, Lightspeed, 3one4 Capital, and AdvantEdge VC — participate alongside the new entrants. Hitachi Ventures, the venture arm of the Japanese industrial technology group, joined for the first time, marking its debut investment in India's energy sector. YourNest, Exponent's original institutional backer, contributed an additional $4 million from its Continuum Fund, while TDK Ventures increased its stake through a follow-on investment.

Exponent's core technology centres on a proprietary energy stack, combining battery pack, pump, and connector, that enables a 15-minute full charge for commercial EVs and provides a 3,000-cycle life 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 or home chargers.

The company has framed its strategy around three interlocking pillars: its charging and battery technology, a mobility platform called Exponent OTO, and a financing and asset-management arm called Exponent ONE. Together, the company says these address the primary barriers to commercial EV adoption — reliable energy, suitable vehicles, and access to capital.

Proceeds from the round will be directed toward geographic expansion into new cities, entry into additional vehicle categories, and further research and development investment.

Arun Vinayak, Founder and CEO of Exponent Energy, described the raise as a transition point for the business. The first five years, he said, were focused on proving the technology in field conditions across millions of charging sessions. The next phase, which the company is calling Exponent 2.0, aims to scale that foundation into a broader energy platform for India's commercial EV market.

Investors cited the company's full-stack ownership of its hardware and software as a key reason for their confidence. Tobias Jahn, Partner at Hitachi Ventures, noted that Exponent's integrated battery and charging system, rather than reliance on third-party components, underpins both the company's service guarantees and its potential for recurring revenue.

360 ONE Asset's participation marks the asset manager's first investment in the EV sector. Sumit Jain, Head of Venture Growth Investments at the firm, pointed to the company's approach to making electric vehicles commercially viable for fleet operators as the basis for the investment.