Get All Access for $5/mo

Exponent Energy Raises $13 Million In Series A Round Led by Lightspeed Funds will be utilized to scale up the e^pump network to 100 location points per city starting with Bengaluru, streamline e^pack production and deliver more Exponent enabled EVs.

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pixabay

Exponent Energy on Wednesday announced to have raised $13 Million in Series A funding round led by Lightspeed, with all existing institutional investors such as YourNest VC, 3one4 Capital &AdvantEdge VC also participating. Funds will be utilized to scale up the e^pump network to 100 location points per city starting with Bengaluru, streamline e^pack production and deliver more Exponent enabled EVs.

"Our technology already delivers a seamless charging experience, and with our vehicle partnership in place, we'll scale-up our production and network presence to 100 e^pump location points per city to deliver freedom & flexibility to our customers. This funding now allows us to execute even faster and make 15-min rapid charging the new normal," said Arun Vinayak, co-founder and CEO, Exponent Energy.

"The need for enhancing EV battery performance, sustainability and most of all access and affordability has never been more pressing and so we are delighted to partner with Exponent to simplify energy for EVs. This team, with their drive and innovation, has made rapid EV battery charging possible in just 15 minutes," said Harsha Kumar, partner, Lightspeed

Earlier this month, Exponent Energy partnered with Altigreen to make rapid charging a reality for eCVs on Indian roads. They unveiled the world's fastest charging electric 3-wheeler that rapidly charges from 0-100 per cent within 15 minutes. Previously Exponent Energy has raised $6 million in seed and pre-Series A round from prominent investors such as the family office of Dr. Pawan Munjal, chairman and CEO, Hero MotoCorp, Motherson Group, YourNest VC, 3one4 Capital, AdvantEdge VC and a few angel investors.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Entrepreneurs

Academic Excellence Is Not Necessary for Success in Life: Hear from the Founder of this Exciting New Digital Education Platform.

Many educational platforms are emerging these days to help people qualify for various types of entrance examinations. But what about the students who don't want to take the traditional path, the ones who don't rank among the top 10 in the classroom yet still aim high in life?

Growing a Business

3 Branding Strategies That Will Make Any Brand Stand Out

Here's how to differentiate your brand in three essential steps — understanding your unique selling proposition, leveraging storytelling, and valuing feedback.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

No More ChatGPT? Here's Why Small Language Models Are Stealing the AI Spotlight

Entrepreneurs can leverage this growing tech to create innovative, efficient and targeted AI solutions.

Marketing

10 Effective Growth Marketing Hacks and Strategies for Your Startup

Working at a startup can feel like building a plane while you're trying to take off. Use these ten marketing tips to effectively grow and sustain your startup.

Franchise

Four Takeaways for the Franchise Industry From My Time at the Republican National Convention

Matt Haller, President and CEO of the IFA, says the stakes are high for franchisors and franchisees in the upcoming presidential election.