EV rapid charging startup Exponent Energy is set to raise Rs 182 crore (approximately $20 million) in an extended Series B round co-led by 360 One and TDK Ventures. The round will also see participation from existing investors including YourNest, Advantedge Technology, Eight Roads Ventures, Lightspeed India, and others. This marks the company’s first major fundraise in over two years since its $26.4 million Series B round in December 2023.
Capital infusion to accelerate EV charging infrastructure
According to regulatory filings, Exponent Energy’s board has approved the issuance of 85,135 Series B2 CCPS at Rs 21,430 per share to raise the planned capital. 360 One will lead with Rs 45 crore, followed by TDK Ventures (Rs 44.5 crore) and YourNest (Rs 37.82 crore), along with participation from multiple institutional and strategic investors. The company is expected to use the funds to scale its rapid-charging infrastructure and deepen partnerships with OEMs and fleet operators.
Valuation jump and ESOP expansion signal growth momentum
As per estimates, Exponent Energy’s valuation is set to rise over 56% to around Rs 1,250–1,300 crore post-money, up from Rs 797 crore in its previous round. The company has also expanded its ESOP pool by adding 11,550 options, taking the total pool value to approximately Rs 142.6 crore, reflecting a focus on talent retention and long-term growth.
Building fast-charging solutions for EV logistics ecosystem
Founded by Arun Vinayak and Sanjay Byalal, Exponent Energy develops rapid-charging solutions that enable EVs to achieve full charge in around 15 minutes. The company partners with OEMs to integrate its battery packs and operates a network of charging stations, known as e-pumps, to support logistics and commercial EV operators.
Strong revenue growth amid rising EV adoption
Exponent Energy reported an over 80% increase in revenue to Rs 30.2 crore in FY25, up from Rs 16.4 crore in FY24, while reducing losses by 66% to Rs 65 crore. The startup operates in a competitive EV ecosystem alongside players such as Lohum, Battery Smart, Chargeup, and Statiq, as demand for efficient charging infrastructure continues to grow.
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