EV startup Exponent Energy raises $13 million in funding led by Lightspeed

Electric vehicle (EV) fast-charging startup Exponent Energy said it has raised $13 million in funding led by Lightspeed Venture Partners, with existing institutional investors such as YourNest VC, 3one4 Capital & AdvantEdge VC also participating.

This is Lightspeed’s first investment in the EV space.

Exponent Energy has developed a technology that claims to fully charge a vehicle in 15 minutes, much less than the regular time – at least three hours – they take to get fully charged.