The startup said the new funds will be used to scale up its EV network to 100 location points per city, starting with Bengaluru.
All existing institutional investors, YourNest VC, 3one4 Capital and AdvantEdge VC, also participated in the latest funding round.
“With their drive and innovation, this team has rapidly made EV batteries possible in just 15 minutes. We believe the technology is a real breakthrough, making EVs ubiquitous,” said Harsha Kumar, Partner, Lightspeed.
Earlier this month, Exponent Energy partnered with Altigreen Propulsion Labs to enable fast charging for eCVs on Indian roads.
They unveiled the world’s fastest charging electric tricycle aneEV HD, which charges from 0-100 percent in 15 minutes.
Customer deliveries from
“Our technology is already delivering a seamless charging experience, and with our vehicle partnership we will expand our manufacturing and network presence,” said Arun Vinayak, co-founder and CEO of Exponent Energy.
Exponent Energy previously raised $6 million in Seed and Pre-Series A rounds from investors such as Dr Pawan Munjal’s family office, Chairman and CEO, Hero MotoCorp, Motherson Group, along with YourNest VC, 3one4 Capital, AdvantEdge VC and others .
Pawan Munjal invests in EV charging company Exponent Energy
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