Electric vehicle (EV) charging infrastructure startup Exponent Energy raised $13 million in Series A led by Lightspeed where existing institutional investors including YourNest VC, 3one4 Capital, and AdvantEdge VC also participated.
Exponent Energy's goal is to make EV energy more accessible. The startup intends to use the new funds to expand the e-pump network to 100 locations per city, beginning with Bengaluru. Exponent Energy also wants to improve e-pack production and deliver more Exponent-enabled EVs. The startup claims that its e-pack and e-pump battery packs and charging stations can unlock a 0% to 100% rapid charge in 15 minutes for EVs with any number of wheels while also providing a 3,000 cycle life warranty, all while using standard lithium-ion (Li-ion) cells.