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Bengaluru based electric vehicle startup Simple Energy has secured Rs 250 crore in a blended debt equity funding round, marking one of its most significant capital raises to date. The round was led by the family office of Arokiaswamy Velumani, the founder of diagnostics giant Thyrocare Technologies, with additional participation from the company’s own founders. Debt financing, amounting to Rs 123 crore, was provided by HDFC Bank, Capitar Ventures, and a select group of non-banking financial institutions.
A Strategic Deployment of Capital
The freshly raised capital will be channelled into three core priorities — expanding manufacturing capacity, broadening the retail distribution network, and advancing product development initiatives. This structured approach to capital deployment reflects the company’s intent to build a scalable and commercially robust operation before approaching public markets.
Founded in August 2019 by Suhas Rajkumar and Shreshth Mishra, Simple Energy designs and manufactures high performance electric two wheelers. Its flagship scooter delivers a claimed range of up to 248 km on a single charge, a top speed of 105 kmph, and generous boot storage — specifications that position it competitively within the premium electric two-wheeler segment.
Operational Scale Up Underway
Simple Energy currently holds a manufacturing capacity of 3,000 scooters per month, selling around 2,000 units monthly, with sales concentrated largely in southern India. The company has outlined an ambitious production ramp up plan — targeting 10,000 units per month by January 2027 and 15,000 units per month by March 2027. On the distribution front, its retail network of nearly 80 stores is slated for expansion to between 200 and 250 outlets by the same period.
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Revenue Growth Signals Commercial Momentum
The company’s financial performance has shown considerable improvement. Simple Energy reported operating revenue of approximately Rs 150–160 crore in FY26, a near fourfold increase from the roughly Rs 40 crore recorded in FY25. While the business remains heavily dependent on southern markets, this trajectory demonstrates growing consumer acceptance of its product portfolio.
IPO on the Horizon
Looking ahead, Simple Energy has set its sights on an initial public offering in the second half of FY28, with plans to raise approximately Rs 3,000 crore through the listing. The funds are intended to support market expansion beyond its current geographies, intensify research and development efforts, and establish a new manufacturing facility.
With a clear capital strategy, improving revenue metrics, and a defined path to the public markets, Simple Energy appears to be methodically building the foundation for its next chapter of growth.
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