Exponent Energy's EV financing subsidiary Exponent One raises $2 million
Exponent Energy, started by ex-Ather execs Arun Vinayak and Sanjay Byalal, said its separately capitalized subsidiary Exponent One just picked up $2 million in pre-seed funding from AdvantEdge Founders.
The cash is going into Exponent One—a separately capitalized subsidiary focused on making it simpler for businesses to finance commercial electric vehicles (EVs), something that's been tough with few options and lots of defaults.
Exponent One is using real-time data to offer smarter loans
Exponent Energy is known for its fast-charging tech—think 15-minute full charges and batteries that last 3,000 cycles.
With Exponent One, they're now using real-time data from vehicles and charging stations to offer smarter loans where repayments are linked to how much the vehicle is actually used.
This covers everything from three-wheelers to trucks, plus perks like built-in protection and guaranteed buybacks.
The EV financing market is projected to grow significantly
Separately, Exponent Energy has raised a total of $44.4 million so far.
The EV financing market is set for major growth—estimated at $3.59 billion this year and projected to grow to $28.7 billion by 2031—so there's plenty of room for them to grow.
They already have a network of over 100 chargers in Bengaluru and the National Capital Region, and operate in Chennai and Ahmedabad, with more expansion on the way.