Simple Energy, an IPO-bound electric two-wheeler startup, is raising ₹126.7 crore in a round led by its existing backer, Thyrocare founder Arokiaswamy Velumani. MCA filings show shareholders approved issuance of 2.11 lakh Series X CCPS at ₹6,000 each. Cofounders Suhas Rajkumar and Ankit Gupta will invest ₹13.5 crore each. The funding supports growth and business expansion as the company prepares for a public listing, having already built a total funding pool above $84 million.
EV startup Faraday Future reportedly paid $7.5 million to a company connected to founder Jia Yueting while it was under a four-year SEC investigation. The probe has since been closed in March, but questions remain about the timing of the payments and the company’s financial runway during its long regulatory scrutiny.
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Jeff Bezos-backed EV startup Slate Auto has raised $650 million to accelerate production of its first affordable pickup trucks, slated for delivery later this year. The company plans major investment in its Indiana factory and is positioning the trucks as a lower-cost option for buyers squeezed by high living expenses. The latest round was led by TWG Global.
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