Exponent’s charging station, the e^pump can fully charge any EV that has its e^pack (battery pack), in 15 minutes.
With Park+, 1000 such zones will be set up in parking lots, making it convenient for users to charge their exponent enabled EVs.
Exponent Energy, an EV energy startup simplifying energy for EVs, and Park+, a super app for car owners and the largest EV charger installer in India, announced a partnership to deploy 1,000 charging zones across India by the end of 2023, starting with Bengaluru. The partnership will help Exponent to build a dense e^pump network by leveraging the real estate and public parking spaces accessible to Park+. Range anxiety has given way to charging anxiety, which both Exponent and Park+ are striving to solve together.
The charging stations set-up will be jointly branded as “Park+ EV Zones powered by Exponent” and will be deployed across high-demand hotspots of vehicle deployment and towards high EV usage regions.
Exponent Energy is redefining EV charging by solving the two-sided energy problem through its battery pack, e^pack and charging station, e^pump – allowing exponent to deliver a 15 minute full charge on exponent enabled vehicles. Recently, Exponent announced the world's fastest-charging electric three-wheeler in a partnership with Altigreen Propulsion Labs.
Talking about the partnership, Arun Vinayak, Co-founder, and CEO, Exponent Energy shared, “We’ve already established the new norm for a seamless charging experience through our 15 minute full charge. The next step is to make finding an e^pump as easy as a petrol pump. With Park+ and its nationwide network of structured parking spaces, we aim to achieve just that, starting with Bengaluru. Rapid charging unlocks a much higher vehicle throughout on the same piece of land. More vehicles equals more energy, making the e^pump a far more profitable network.”
Commenting on the partnership, Amit Lakhotia, Founder & CEO, Park+, said "Park+ has been making conscious efforts to partner with like minded brands, to nurture the Indian EV ecosystem. As part of this strategy, we are excited to collaborate with Exponent to build a robust battery charging network across India. Exponent and Park+ users will now be able to discover these “Park+ EV Zones powered by Exponent” to charge their battery packs within 15 minutes. Additionally, we also aim to activate over 10,000 Park+ EV Zones across India, in the next 15 months, to make EV charging accessible and hassle free. We look forward to a long and fruitful partnership with Exponent.”
Exponent has raised $18Mn so far from Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, Motherson Group and the family office of Dr. Pawan Munjal, Chairman, and CEO, Hero MotoCorp.
About Exponent Energy
Led by Arun Vinayak & Sanjay Byalal, exponent energy aims to simplify energy for EVs. The company has built a battery pack & charging station called the e^pack&e^pump that together unlock a 15 minute full charge for EVs with any number of wheels & provide a 3000 cycle life warranty – all while using regular Li-ion cells to make rapid charging affordable and scalable.
Founded in 2019 by Amit Lakhotia, Park+ is a super app for car owners that solves the daily challenges faced by car owners - ranging from parking, FASTag management, car insurance, automated vehicle access control systems and EV charging stations. Backed by Sequoia Capital and Matrix Partners, Park+ today hosts India's largest community of car owners on its platform. Park+ is present in 3,000+ residential societies, 1,00,000+ parking areas, 300+ offices, and 35+ malls across Delhi NCR, Mumbai, and Bangalore.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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