Exponent Energy, a startup that claims to provide 15-minute rapid charging for electric vehicles (EVs), has raised Rs 200 crore ($21.1 million) in a funding round co-led by 360 ONE Asset and TDK Ventures. The Bengaluru-based company plans to use the funds to expand its charging network for commercial electric vehicles across India.
The round also saw participation from Hitachi Ventures, marking the global industrial investor's first bet in India in the energy sector, along with existing backers Eight Roads Ventures, Lightspeed, 3one4 Capital, AdvantEdge VC and YourNest, which invested an additional $4 million through its Continuum Fund. The latest fundraising takes Exponent Energy's total funding to $65.7 million.
