December 15, 2023
1 min read

Energy-Tech Startup Exponent Energy Raises $26.4M

The 3-year-old Bengaluru-based startup has raised $44.4 Million in total to date and plans to utilise the fresh funds to scale its presence to five new cities by FY24….reports Asian Lite News

Energy-tech startup Exponent Energy on Thursday announced it has raised $26.4 Million in a series B round led by Eight Roads Ventures, including a strategic investment from TDK Ventures.

The round witnessed participation from existing investors like Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Dr. Pawan Munjal, Executive Chairman, Hero MotoCorp.

The 3-year-old Bengaluru-based startup has raised $44.4 Million in total to date and plans to utilise the fresh funds to scale its presence to five new cities by FY24.

The company said it also plans to expand its offering in the e3W space and enter the intercity e-bus segment in 2024.

“With this round, we’re set to scale operations from battery manufacturing to on-ground network presence across categories & cities, and simplify the broken energy ecosystem at scale,” said Arun Vinayak, Co-founder and CEO, Exponent Energy.

Exponent’s proprietary energy stack unlocks a 0-100 per cent rapid charge in 15 minutes for EVs and offers a 3,000-cycle life warranty using regular Li-ion cells.

“As our first investment in the electric vehicle sector in India, we’re very excited to partner with Arun, Sanjay, and the entire Exponent team, as they build one of the largest full-stack energy platforms in the country,” said Aditya Systla, Partner, Eight Roads Ventures.

Nicolas Sauvage, President, TDK Ventures added that Exponent’s groundbreaking achievement in crafting an economical and scalable 15-minute rapid charging solution utilizing standard LFP cells is revolutionary, allowing electric vehicles to adopt a more compact battery pack that can swiftly charge within a concentrated public charging infrastructure.

ALSO READ: Indian Hockey Squads Gear Up for Five Nations Invitational in Valencia, Spain

Previous Story

Global Cybersecurity Market for Medical Devices to Reach $1.1 Billion by 2027

Next Story

Global Coal Demand to Decline in 2026 After Record High in 2023

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop