Electric two-wheeler manufacturer Simple Energy has raised $10 million in an all-equity bridge round, led by long-time backer Dr. Arokiaswamy Velumani (Founder, Thyrocare’s Family Office), with participation from Balamurugan Arumugam and the Haran family office.
The infusion will be directed toward expanding the company’s retail and service footprint across India and supporting ongoing R&D initiatives aimed at advancing EV technology.
Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, with Ankit Gupta joining later as co-founder, Simple Energy has positioned itself as a maker of smart, performance-driven electric scooters. The startup recently became India’s first OEM to commercially manufacture heavy rare-earth-free motors, reinforcing its innovation-led approach.
Simple Energy’s product portfolio includes the Simple One Gen 1.5, offering 248 km IDC range, and the Simple OneS, with 181 km IDC range, both now available through its retail network. The company also offers an 8-year motor warranty, an industry benchmark for reliability.
Currently, Simple Energy operates 53 outlets across Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Vizag, and Kochi. With fresh funding, it plans to scale up to 150 stores and 200 service centers in 2025, ensuring greater accessibility and after-sales support. Its Hosur, Tamil Nadu facility can manufacture up to 150,000 vehicles annually.
So far, the company has raised $51 million from prominent investors. Looking ahead, Simple Energy is eyeing a $350 million IPO in FY 2027, aimed at boosting production and expanding into new markets.
By: Arushi Agarwal
