VC Fund Investments
Rapid charging enabler for EVs Exponent Energy raises $13-M led by Lightspeed
Bengaluru-based EV rapid charging startup Exponent Energy has raised USD 13 million in a Series A funding round led by Lightspeed. Existing investors YourNest VC, 3one4 Capital and AdvantEdge VC also participated in the round. Exponent offers proprietary charger and battery packs that make it possible to charge batteries in 15 minutes. The company has partnered with Altigreen. The new funds will be used to scale up its network to 100 location points per city, starting with Bengaluru, streamline e^pack production, and deliver more Exponent enabled EVs.
From the Venture Intelligence PE-VC Deal Database: Between May 21 and Aug 22, Exponent Energy had raised over USD 5 M from Munjal Family Office, YourNest, 3One4 Capital and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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