Founded in 2020 by former Ather Energy executives, Exponent Energy develops rapid-charging battery and charging technologies for electric vehicles and has raised about $61.9 million across nine funding rounds.
Bengaluru-based energy-tech startup Exponent Energy has seen its co-founder, Sanjay Byalal Jagannath, exit an operational role, with the executive set to move into an advisory position while exploring opportunities outside the company.
According to market intelligence platform Tracxn, the founders collectively hold around 16 per cent stake in Exponent Energy, of which Jagannath owns approximately 3.79 per cent.
Jagannath played a key role in building several aspects of the company, particularly its charging network, operations, and support functions, such as finance, during the startup’s early years.
Commenting on the move, Jagannath said: “The initial journey at Exponent was all about building the foundations, technology, product, team, and culture. It was a fantastic experience building that out with Arun, the rest of our leadership team, and the investors.
“Sometime last year, we realised that a shifting of gears was needed, new perspectives and seasoned experience to take us to a new scale.”
He added that the company’s strong foundations, trust in the new and continuing leadership, and the culture built within Exponent gave him the confidence to explore “new directions and ideas”.
Leadership transition amid growth phase
In a LinkedIn post, Arun Vinayak, founder and CEO of Exponent Energy, said the decision had been made mutually last year as the company entered a new phase of growth.
“At this critical inflection point, we both realised it’s important for Exponent to bring in new leadership with different perspectives and seasoned experience. We took this decision in August last year, as it was critical to communicate to relevant stakeholders and incoming investors,” Vinayak said.
He added that the restructuring was carried out amicably with the support of investors and the broader Exponent team.
Jagannath and Vinayak previously worked at Ather Energy before founding Exponent Energy in 2020 after leaving their respective roles at the EV company.
About Exponent Energy
Founded in 2020, Exponent Energy develops rapid-charging battery, charger, and connector technology for electric vehicles. The company offers an integrated energy stack comprising a proprietary battery pack, charging station, and high-current connector, enabling ultra-fast charging for EVs
The startup has raised about $61.9 million across nine funding rounds, according to Tracxn.
Published on May 27, 2026
