Exponent Energy, a battery technology startup backed by Lightspeed and 3one4 Capital, has raised ₹200 crore (approximately $20 million) in a Series B extension. The funding round was co-led by 360 ONE and TDK Ventures and announced on June 10. The capital will be used to expand Exponent Energy's electric vehicle (EV) fast-charging network, retrofit business, and highway infrastructure for commercial vehicles, according to livemint.com.
The Series B extension follows Exponent Energy's strong financial performance in FY25, when its revenue increased by 84% to ₹44 crore from ₹24 crore the previous year. The company plans to deploy the new funds to scale its EV charging infrastructure across highways and commercial vehicle routes. The involvement of strategic investors like 360 ONE and TDK Ventures highlights confidence in Exponent Energy’s technology and growth potential, livemint.com reported.
Exponent Energy operates in the rapidly growing EV charging sector in India, where demand for fast and reliable charging infrastructure is increasing alongside EV adoption. The startup’s focus on battery technology and retrofitting existing vehicles positions it to address key challenges in commercial EV deployment. The ₹200 crore raise adds to the momentum in the Indian EV ecosystem, complementing investments by other players such as Ather Energy and Tata Power’s charging networks, per livemint.com.
Exponent Energy’s Series B extension funding was disclosed on June 10, with the company aiming to accelerate its infrastructure rollout and retrofit services. The startup’s revenue growth and investor backing underscore its expanding role in India’s EV transition, livemint.com stated.