Exponent Energy has launched a fintech and asset management venture, Exponent One, to address a key barrier to scaling commercial EV adoption: access to viable financing. Financing veteran Sandeep Divakaran, formerly in CXO roles at Ola and Evfin by Greaves Electric Mobility, will helm the new venture as Co-founder and CEO.

In the meantime, Exponent One has raised $2 million in pre-seed funding from AdvantEdge Founders to accelerate its rollout across key commercial EV hubs.

Exponent One is a 360-degree underwriting and asset management platform built specifically for commercial electric vehicles—three-wheelers, four-wheelers/LCVs, buses and trucks—across the lifecycle of owning, earning, and upgrading. The platform leverages Exponent Energy’s real-time energy intelligence to bring financing parity between EVs and ICE commercial vehicles through adaptive financing and risk-sharing models, including assurance and buybacks.

Divakaran, who has over two decades of experience across financial services, leasing and mobility, said traditional lending models rely on fixed monthly EMIs and personal credit assumptions that do not reflect the daily variable earnings of driver-owners. “At Exponent One, we believe in something fundamental: if the driver-owner fails, the system fails. Our vision is to enable sustainable micro-entrepreneurship in electric mobility by building financing that adapts to real-world earnings and not monthly averages, manages asset risk, provides buffers and gives drivers the confidence to switch and grow with EVs.” 

How the model works 

Built on Exponent’s energy stack, Exponent One’s AI-based financing platforms embed insurance to respond to health and asset shocks, and offer assured buybacks to create a strong secondary market that adds a layer of assurance for commercial vehicle owners and partner financiers. It also plans to provide savings products, top-up loans and upgrade opportunities to support driver-owners and small fleet operators.

Arun Vinayak, Founder and CEO, Exponent Energy, said, “This is a first-of-its-kind partnership, with energy and financing coming together to provide integrated adaptive finance and asset management solutions. We’re excited to have Sandeep lead this effort to build the financial layer needed to address the commercial EV financing gap. Together, Exponent Energy will power the assets, and Exponent One will power the driver-owner.“

Founded in 2020, Exponent Energy develops battery packs, charging stations and connectors that enable a 15-minute full charge and a 3,000-cycle life warranty for EVs. The company has raised $44.6 million across funding rounds led by Lightspeed, TDK Ventures, Eight Roads Ventures, YourNest VC, 3one4 Capital, AdvantEdge VC and the family office of Dr Pawan Munjal, Chairman & CEO of Hero MotoCorp.