Summary: Bengaluru-based EV startup Simple Energy has raised $10 million in a bridge round led by existing investors. The funds will fuel the company’s aggressive retail expansion, with plans to open 150 new showrooms and 200 service centres across India in 2025. A portion of the capital will also support R&D as Simple Energy continues to pioneer long-range electric scooters. With $51M raised to date, the company is eyeing an IPO in FY 2027 to scale its manufacturing and growth ambitions.
Electric two-wheeler manufacturer Simple Energy has raised $10 million in a bridge funding round to scale up its retail and service presence across India.
The equity round was led by existing investor Dr Arokiaswamy Velumani, Founder of Thyrocare’s Family Office, with participation from Balamurugan Arumugam and the Haran family office.
The company, which currently operates 53 showrooms in cities such as Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Visakhapatnam, and Kochi, plans to expand aggressively in 2025 with 150 new outlets and 200 service centres.
Around 80% of the fresh capital will be directed towards expanding this retail footprint, while the remainder will be invested in research and development.
“This investment will bolster our next phase of growth and make electric mobility more accessible to customers across India,” said Suhas Rajkumar, CEO and Founder of Simple Energy. “We are confident in scaling into both established and emerging markets with India’s longest-range electric two-wheelers.”
Founded in 2019, the Bengaluru-based startup has positioned itself as a pioneer in high-performance, locally manufactured electric scooters. Its manufacturing facility in Hosur, Tamil Nadu, has an annual production capacity of 150,000 vehicles.
Simple Energy has introduced several firsts in India’s EV industry, including the longest-range electric two-wheelers, full vertical integration of the powertrain, and an eight-year motor warranty. More recently, it became the first Indian OEM to commercially produce heavy rare-earth-free motors.
Investors backing the company expressed confidence in its strategy and execution.
“Simple Energy’s indigenously built battery systems and motor quality, coupled with disciplined execution, make it a strong contender for the top three spots in India’s EV two-wheeler market by 2030,” said Dr. Velumani.
Balamurugan Arumugam added: “Their focus on R&D, strategic market expansion, and customer engagement reflects the brand’s potential for lasting impact.”
The company has so far raised $51 million from marquee investors and is eyeing an IPO in FY 2027 to raise $350 million for further manufacturing expansion and growth.
In early 2025, Simple Energy launched the Gen 1.5 of Simple One with a 248 km IDC range, followed by the Simple OneS with a 181 km IDC range. Both models are available at their existing outlets.
