VC Fund Investments
EV Startup Exponent Energy raises funding from Pawan Munjal family office
Bengaluru-based Electric Vehicle (EV) charging infrastructure startup Exponent Energy has raised funding from the family office of Hero Motocorp Chairman Pawan Munjal. The startup will use the funding to set up 100 EV charging stations across Bengaluru in its first leg of expansion. Exponent will also use the investment to scale up its EV battery pack production capabilities and expand its footprint to other cities. Exponent's offerings include EV battery packs and charging stations. It focuses on developing scalable and affordable fast charging avenues for EVs. Exponent also announced a partnership with EV manufacturer Altigreen Propulsion Labs to produce an electric three-wheeler that can be fully charged in 15 minutes.
From the Venture Intelligence PE-VC Deal Database: In 2021, Exponent had raised over $5 M from YourNest, Motherson Group, 3one4 Capital, AdvantEdge VC and others.(Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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