We are pleased to share that Argus Partners has advised electric vehicle charging infrastructure startup, Exponent Energy (Exponent Energy Private Limited) on raising $26.4 million in a Series B round led by Eight Roads Ventures.

Exponent Energy intends to use the funding to scale its presence to five new cities and, expand its offering in the electric three-wheeler space and enter the intercity e-bus segment in 2024. The company further aims to deploy 1,000 e-pumps, its charging stations and have 25,000 electric vehicles powered by Exponent Energy by 2025.

As per, Arun Vinayak, co-founder and CEO, Exponent Energy, “With this round, we’re set to scale operations from battery manufacturing to on-ground network presence across categories & cities, and simplify the broken energy ecosystem at scale,”

The Argus Team consisted of Ankit Guha (Partner), Tushar Thimmiah (Principal Associate), Shubhangi Gupta (Senior Associate) and Keshav Seth (Associate).

Read more at: Economic Times