Electric vehicle (EV) charging infrastructure startup Exponent Energy raised an undisclosed amount from the family office of Hero Motocorp Chairman Pawan Munjal.
Exponent’s product portfolio includes EV battery packs and charging stations. Its primary goal is to create scalable and affordable fast charging options for EVs. In its first phase of growth, the startup plans to install 100 EV charging stations throughout Bengaluru. Exponent will also use the funds to expand its EV battery pack production capabilities and expand into new cities. Exponent also announced a collaboration with Altigreen Propulsion Labs, an EV manufacturer, to develop an electric three-wheeler that can be fully charged in 15 minutes.
