Exponent Energy Charges Up with INR 200 Crore in New Funding

Exponent Energy, a Bengaluru-based full-stack EVs-focused energy company, has raised USD 21.1 million (INR 200 crore approximately) in a new funding round co-led by 360 ONE Asset and TDK Ventures.

The round also saw participation from Exponent’s existing investors such as Eight Roads Ventures, Lightspeed, 3one4 Capital, and AdvantEdge VC. YourNest, Exponent’s first institutional backer, invested $4 million through its Continuum Fund.

The funding round marks 360 ONE Asset’s first investment in the EV sector. It’s also Hitachi Ventures’ first investment in the energy sector in India. Including this raise, the company has raised USD 65.7 million to date. 

Exponent says it will use fresh capital to expand into new cities and new vehicle categories, and deepen investment in R&D. 

Founded in 2020 by Arun Vinayak and Sanjay Byalal, Exponent provides an integrated ecosystem for electric vehicles by combining proprietary energy stack (battery and charger), its Exponent OTO mobility platform, and its Exponent ONE financing and asset-management arm. 

The startup adds that it is building an integrated ecosystem for the all-electric future, combining its proprietary energy stack (battery and charger), its Exponent OTO mobility platform, and its Exponent ONE financing and asset-management arm to take on the three biggest barriers to commercial EV adoption at once: energy, vehicles, and access to capital. The goal is to power millions of commercial vehicles across India and make electric the better energy choice – one that is more rapid, reliable, and affordable than petroleum.

“… 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,” Founder and CEO Vinayak said in a statement.

“This funding comes at a defining moment. 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. With this capital, we are well-positioned to expand our footprint, enter new segments, and accelerate the transition to commercial EVs across India.”