India, Feb. 17 -- EV rapid charging startup Exponent Energy has forayed into EV financing category with the launch of a subsidiary 'Exponent One' to offer financing solutions for commercial EV operators.

VC firm AdvantEdge has infused $2 Mn (around Rs.18.2 Cr) in Exponent One in a pre-seed funding round to expand its presence across key commercial EV hubs.

As per Exponent Energy cofounder and CEO Arun Vinayak, the financial arm is being launched to address two key issues - limited EV financing options and high defaults.

Exponent One will use real-time vehicle and charging data to enable adaptive underwriting and earnings-linked financing tailored for driver-owners and small fleet operators. Based on the data obtained, its offerings wil...