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Exponent Energy raises Rs 103 crores in Series A round.
Exponent Energy will use the Series A funds to scale its fast-charging e^pump network to 100 locations and scale up the e^pack(battery pack) production.
Bangalore-based energy startup Exponent Energy announced that it raised ₹103 crores ($13 million) in the Series A funding round.
CEO of Exponent Energy, Arun Vinayak, revealed it on Twitter. The funding round was led by a venture capital firm Lightspeed.
Exponent’s existing institutional investors, YourNest VC, 3one4 Capital, and AdvantEdge VC, also doubled down their investments in the startup.
Arun Vinayak said that the funds would help the company to scale its fast-charging e^pump network to 100 locations/city and scale up the e^pack(battery pack) production.
Recently, Exponent Energy announced its partnership with Altigreen and launched the world’s fastest charging three-wheeler, neEV HD.
neEV HD is equipped with the Exponent’s battery pack called e^pack. The three-wheeler can be charged from 0-100% in under 15 minutes by the e^pump developed by Exponent Energy.
The battery capacity of the commercial EV is 8.19kWh and delivers a range of 80-85 km on a full charge. The commercial vehicle has a loading capacity of 177 cubic feet, ground clearance of 220 mm, and a top speed of 53 mk/h.
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