Simple Energy has closed a Series B funding round of Rs 250 crore through a mix of debt and equity, while Anveshan has secured Rs 150 crore in funding led by Vertex Ventures Southeast Asia & India.
EV maker Simple Energy raises funding
Simple Energy, a Bengaluru-based electric two-wheeler manufacturer, has closed a Series B funding round of Rs 250 crore ($26 million) through a mix of debt and equity, per an announcement.
The round was led by the family office of billionaire entrepreneur Arokiaswamy Velumani, with participation from Simple Energy founder and CEO Suhas Rajkumar and co-founder and CFO Ankit Gupta.
HDFC Bank, Capitar Ventures, and other non-banking financial companies provided Rs 123 crore in debt financing.
The company said most of the proceeds will be used to expand manufacturing capacity and increase production, while the remainder will be allocated to sales, marketing, and research and development.
Founded in 2019, Simple Energy says it offers some of India’s longest-range electric scooters and has developed and manufactured its powertrain in-house.
Vertex Ventures leads Anveshan’s funding round
Anveshan, a Gurugram-based clean-label food brand, has secured Rs 150 crore ($16 million) in funding led by Vertex Ventures Southeast Asia & India, per media reports.
This marks the startup’s Series B round, which also saw participation from the International Finance Corporation (IFC) and Swiggy co-founder Sri Harsha Majety.
Existing investors, including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta, also participated in the round.
Anveshan, which describes itself as a provider of chemical-free, natural food products, sells ghee (clarified butter made from A2 milk), cold-pressed oils, raw honey, atta (whole wheat flour), and other traditional nutrition-focused products.
The company plans to use the funds to expand its operations, develop new products, grow its retail and online presence, and strengthen its sourcing and quality control processes.
