Simple Energy Closes ₹250 Crore Series B Round

Simple Energy, an electric two-wheeler manufacturer based in Bengaluru, has completed its Series B funding round, raising ₹250 crore through a combination of debt and equity. The round was led by the family office of Dr. Arokiaswamy Velumani, joined by the company's own founders — CEO Suhas Rajkumar and CFO Ankit Gupta. Debt financing worth ₹123 crore was contributed by HDFC Bank, Capitar Ventures, and other non-banking financial companies.

The company reported that its revenues grew from ₹40 crore in FY25 to ₹170 crore in FY26, reflecting a fourfold increase over a single fiscal year. Monthly unit sales currently stand at approximately 1,500 scooters, and Simple Energy operates through more than 71 outlets across 38 cities, including Bengaluru, Delhi, Chennai, and Patna.

The bulk of the newly raised capital is earmarked for production scale-up and capacity expansion. Simple Energy's current manufacturing capacity stands at 3,000 units per month, with investments in its battery production line expected to reflect in output from August 2026. The remaining funds will be directed toward sales, marketing, and research and development.

The company has set a target of reaching 10,000 monthly scooter sales by March 2027 and plans to expand its retail presence to additional cities, including Ranchi, Bhubaneswar, and Cuttack.

Founded in 2019, Simple Energy has positioned itself as a vertically integrated electric vehicle original equipment manufacturer, developing its chassis, battery, motor, and software in-house. The company claims a series of firsts in the Indian market, including the commercial production of heavy rare-earth-free motors and a lifetime warranty on its motor and battery.