India, June 1 -- Update | June 1, 2026, 13:40 IST

EV maker Simple Energy has closed its Series B funding round, raising Rs.250 Cr ($26.3 Mn) in a mix of debt and equity. The round was led by the family office of Dr. Arokiaswamy Velumani, and also saw participation from the startup's founder and CEO Suhas Rajkumar and cofounder and CFO Ankit Gupta.

On the debt side, HDFC Bank and Capitar Ventures were among the key participants, along with other NBFCs, which together contributed Rs.123 Cr of the total funding, the startup said in a statement.

Simple Energy plans to use the capital primarily to scale up manufacturing capacity and expand production, while the remaining funds will go toward sales, marketing, and R&D to strengthen its produ...