Arun Vinayak's Exponent Energy Bags $ 5 Million Funding In Pre-Series A Round

Exponent Energy has announced that it has bagged $5 million in a Pre-Series A round of funding led by existing investor YourNest VC, while 3one4 Capital and AdvantEdge VC doubled on their previous investment. Motherson Group, a leading global supplier of automotive components in our market also participated in the new round of fund raising. Exponent Energy is led by Arun Vinayak who is also a former co-founder of Ather Energy and served the brand as its Chief Product officer from 2014 to 2020.

Also Read: Ather Energy Former Chief Product Officer Launches Exponent Energy

Vinayak was the chief product officer at Ather Energy.

Commenting on the fundraise, Arun Vinayak Co-founder & CEO - Exponent Energy said, "We're excited to deepen our partnership with our existing investors who've watched us build from scratch. Motherson coming on board adds immense value to scale with respect to OEM relationships & manufacturing partnerships. Given the demand witnessed for our rapid charging technology in the logistics space, we prioritized closing the Pre-Series A to enter the market by early 2022."

The company recently unveiled its battery pack and charging station called the E-pack and E-pump that together unlocks a 15-minute rapid charge and gives a 3000 cycle life warranty. The funds will be used to begin commercial operations & scale it across multiple cities starting with Bengaluru from early 2022. It will also hire across product & engineering teams to ensure their products enter production and then it will upgrade its software products to create a seamless customer experience. The company is trying cut the charging time to an extent where it matches the refuel time so that an EV can be recharged in the same time we tank-up our cars.