New Delhi, June 10 -- Lightspeed and 3one4 Capital-backed battery charging startup Exponent Energy has raised Rs.200 crore (around $20 million) in an extension to its Series B round as it shifts from building technology to scaling commercial operations across the fast-growing electric vehicle market.

The round was co-led by 360 ONE and TDK Ventures, with participation from Germany-based Hitachi Ventures. The fundraise follows a $26.4 million round led by Eight Roads Ventures back in 2023. In February this year, the company launched an EV financing subsidiary called Exponent One, raising a $2 million cheque from AdvantEdge Founders. With the new round, the company has raised a total of $82 million from venture capital investors.

With R&D...