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Electric vehicle startup Exponent Energy has secured $13 million in funding. Among other things, the money will used to scale up the charging network to 100 points per city.  The company says its technology will reduce the time taken to charge an electric vehicle from three hours to 15 minutes. Exponent Energy, an electric vehicle (EV) fast-charging startup, announced a $13 million funding round led by Lightspeed Venture Partners, with existing institutional investors including YourNest VC, 3one4 Capital, and AdvantEdge VC also participating. This is Lightspeed's first investment in the electric vehicle market. Exponent Energy claims to have developed a technology that can fully charge a vehicle in 15 minutes, which is significantly less than the standard time of at least three hours.  Exponent's battery pack must be installed in EVs to ensure rapid charging, and the end user can charge the vehicle using Exponent's own charging stations. In Bengaluru , the co...

Luxfer Gas Cylinders has developed the UK's first mass-produced hydrogen-electric truck. Tevva, a maker of electric trucks, modified its battery-electric heavy-duty vehicle to incorporate a hydrogen fuel cell system that recharges the battery and increases its range by 310 miles. Following the introduction of the nation's first mass-produced hydrogen-electric truck, which represents the next phase of the transition from fossil-based fuels to low carbon energy, the UK has hit a "historic milestone" in its march toward net zero. Together with Tevva engineers and experts in alternative fuels, Luxfer Gas Cylinders (Luxfer) developed the truck's "plug and play" hydrogen storage system. The engineers of the UK-based gas equipment specialist assisted Tevva, a maker of electric trucks, in modifying the design of its battery-electric heavy-duty vehicle to incorporate a hydrogen fuel cell system that recharges the truck's battery and increases i...

River, an electric scooter startup, has secured $11 million in funding. The company will use the money to  hire more employees, and conduct research and development, among other things. Electric scooter company River, located in Bengaluru, claimed to have secured $11 million from backers, including Lowercarbon Capital, run by US businessman Chris Sacca. Toyota Ventures, Toyota's early-stage venture investing arm, also participated in the round. According to Sacca, who has also invested in Twitter, Uber, and Instagram, three out of every four cars sold in India are two-wheelers. However, the models that are currently on the market have loud, unclean, gas-burning engines from the previous century. Indian motorcyclists now choose River's electric two-wheelers above everything else on the market because they are quicker, harder, and just plain cooler. According to its co-founder Aravind Mani , River intends to use the financing to grow its workforce, invest in R...

Battery Smart has secured $25 million in a funding round led by Tiger Global. With that, Battery Smart becomes the third Indian electric vehicle startup that has raised funds from Tiger Global. Battery Smart, an electric vehicle (EV) battery switching firm, announced a $25 million fundraising round headed by Tiger Global, with participation from Blume Ventures and Orios Ventures. This is the third Indian EV firm to receive funding from Tiger Global, following EV manufacturers Ather Energy and Ola Electric. Battery Smart last secured $7 million from Blume Ventures, Orios Ventures, and others in November 2021. The extra funds will be used to grow into new markets, develop its technology, and build its personnel in order to continue scaling operations, according to the business. The money comes as a result of the government's strong interest in the battery swapping scheme. Niti Aayog, the government research tank, presented a draft battery swapping policy last month wit...

Hopcharge, a Gurugram-based firm founded in 2019, promises to provide the world's first on-demand electric car charging service at consumers' doorstep. The worldwide electric vehicle (EV) sector is quickly expanding; nevertheless, India is trailing behind in terms of electric car adoption and is seeing slower development. The lack of chargers and rapid charging infrastructure is a major contributor to this. Hopcharge was founded in 2019 by BITS Pilani alumni Arjun Singh and IIT Delhi alumnus Saurabh Rohilla to address this difficulty. With a portfolio of technical IP issued in both India and the United States, the firm provides on-demand EV charging at your door. According to the Gurugram-based business, it offers a one-of-a-kind Made-in-India quick charging technology that enables modular and mobile charging infrastructure that augments local grid, minimizes costly grid improvements, and saves EV owners valuable time. Arjun states in a chat with YourStory, ...