Exponent Energy, a Bengaluru, India-based provider of a battery and charging system, received an investment from TDK Corporation (TSE: 6762)’s TDK Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds to bring to market its approach to EV batteries and infrastructure.
Led by Arun Vinayak and Sanjay Byalal, Exponent Energy aims to simplify energy for EVs. The company has built a battery pack named e^pack, a charging station called e^pump, and a charging connector e^plug that together allow the charge in 15 minutes for EVs with any number of wheels and provide a 3000-cycle life warranty – all while using regular Li-ion cells to make rapid charging affordable and scalable.
Exponent partners with OEMs to integrate its e^pack to create a rapid charging variant and sets up a network of e^pumps for users operating in logistics to seamlessly charge their Exponent-powered EVs.
In the last 9 months, its technology has achieved product market fit with customers in India, with over 500 Exponent-powered EVs covering over 3 million kilometers and completing 60,000+ rapid charging sessions.
FinSMEs
19/12/2023