Exponent Energy Co-founder Sanjay Jagannath Exits, Diluting 3%-3.7% Stake at $150 Million Valuation
Updated
Updated · Moneycontrol · May 27
Exponent Energy Co-founder Sanjay Jagannath Exits, Diluting 3%-3.7% Stake at $150 Million Valuation
3 articles · Updated · Moneycontrol · May 27
Sanjay Jagannath has left Exponent Energy, the rapid-charging EV startup he co-founded in 2020 with Arun Vinayak, with the company saying the transition was worked through last year.
Exponent and Jagannath said the exit was amicable and driven by personal reasons and a need for new leadership perspectives as the company scales.
Jagannath holds about 3%-3.7% of Exponent and is selling a sizeable portion, according to people familiar with the matter.
The departure comes as Exponent is valued at $150 million-$180 million, up from about $90 million in 2024, and weeks after reports it was in talks to raise $22 million-$28 million from 360 One and existing investors.
Jagannath joins a wider 2026 founder churn across Indian startups, with exits this year also reported at Cars24, Fashinza, BharatPe and Swiggy.
As Exponent Energy's valuation doubles, why is its co-founder exiting during a crucial $28 million funding round?
From Swiggy to Exponent, what is driving the recent wave of founder exits across India's most promising startups?