Simple Energy bags $10M to fuel EV expansion in India

Bengaluru-based EV startup Simple Energy raised $10M led by Dr. Arokiaswamy Velumani to expand retail, service, and R&D. Founded by Suhas Rajkumar and Shreshth Mishra, with Ankit Gupta, the company targets 150 stores and 200 service centers by 2025. Backed by a 150,000-vehicle Hosur plant, it launched Gen 1.5 models of Simple One and OneS. Preparing for an FY27 IPO, Simple Energy has raised $51M so far.