Exponent Energy has raised Rs 200 crore ($21.1 million) in a round co-led by 360 ONE Asset, an asset manager, and TDK Ventures, the corporate venture arm of Japan’s TDK.
Hitachi Ventures, the venture arm of Hitachi, also joined the round, while existing backers including Eight Roads Ventures, Lightspeed, 3one4 Capital, AdvantEdge VC and YourNest participated again.
YourNest, Exponent’s first institutional investor, put in an additional $4 million from its Continuum Fund.
The Bengaluru-based full-stack energy company focuses on rapid charging for commercial electric vehicles.
The funds will be used to expand into new cities and vehicle categories, and step up research and development.
