Exponent Energy launches Exponent One| Raises $2 million pre-seed

A Bengaluru-based energy-tech company, Exponent Energy, has launched a fintech and asset management venture, Exponent One, focused on financing commercial electric vehicles (EVs). Sandeep Divakaran has joined as Co-founder and CEO of the new entity.

Exponent One has raised $2 million in pre-seed funding from AdvantEdge Founders. The funds will be used to support the initial rollout and expand presence across commercial EV markets.

Exponent One will focus exclusively on commercial electric vehicles, including three-wheelers, four-wheelers/light commercial vehicles (LCVs), buses and trucks. The platform is positioned as a financing and asset management solution covering vehicle ownership, operations, and upgrades.

According to the company, Exponent Energy has developed charging and battery management systems for commercial EVs and has built data capabilities around vehicle energy usage. It stated that while EV technology adoption has progressed, financing access remains a constraint for commercial operators.

Exponent One has been structured as an underwriting and asset management platform for commercial EVs. The company said it intends to use vehicle and energy data to support financing decisions and introduce risk-sharing mechanisms such as insurance integration and buyback arrangements. It plans to work in partnership with traditional financial institutions to enable financing for driver-owners and fleet operators.

Built on Exponent Energy’s vehicle and energy data, Exponent One’s AI-based platform structures adaptive financing for commercial EV operators. The model includes embedded insurance, buyback arrangements, and products such as savings, top-up loans, and upgrade financing to support driver-owners across the vehicle lifecycle.

Sandeep Divakaran, who has held leadership roles at Ola and evfin by Greaves Electric Mobility, stated that existing lending models for commercial vehicle driver-owners are largely structured around fixed monthly repayment schedules. He said Exponent One’s approach is designed to align financing structures with daily earning patterns and operational data from vehicles.

Arun Vinayak, Founder and CEO of Exponent Energy, said the venture aims to address the upfront capital expenditure associated with electric commercial vehicles by offering financing products linked to operational performance and asset management data.

Kunal Khattar, Founder of AdvantEdge Founders, stated that financing models for commercial EVs require integration of operational data to assess asset performance and manage risk.

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