New Delhi, June 01: Simple Energy, a Bengaluru-based electric two-wheeler manufacturer, has closed its Series B funding round, securing ₹250 crore with a mix of debt and equity. The round was led by the family office of Dr. Arokiaswamy Velumani, along with Founder and CEO of Simple Energy, Mr. Suhas Rajkumar, and Co-founder and CFO Ankit Gupta. The debt partners include HDFC Bank and Capitar Ventures, with other NBFCs bringing in ₹123 crore.
The majority of the proceeds will be deployed to scale up production, including manufacturing and capacity expansion. While the remaining funds will be used across sales, marketing, and R&D to strengthen the product roadmap and customer experience.
On the manufacturing front, Simple Energy currently operates at a capacity of 3000 units per month. For the last few months, the company has invested further in its battery line, with the ramp-up expected to reflect from August 2026. To support its next phase of growth, Simple Energy is planning to strengthen its teams and expand the workforce across key functions, including sales, production, and marketing.
Mr Suhas Rajkumar, Founder and CEO, Simple Energy, said,
“The funding reflects strong investor confidence in Simple Energy. This will help us scale production, strengthen our Made-in-India manufacturing stack, and expand access to our long-range, performance-led scooters nationwide. We are seeing clear market demand, with revenues rising 4X from ₹40 crore in FY’25 to ₹170 crore in FY’26. The funding amounts will be mainly directed towards capacity expansion, targeting monthly sales of 10,000 scooters by March 2027, alongside continued investments in R&D and marketing. This milestone marks Simple Energy’s transition from a homegrown startup to a full-stack EV OEM, reinforcing brand trust and readiness for a long-term path to public markets.”
Currently, Simple Energy’s monthly sales are ~1500 units, and the brand is operating in more than 71 outlets across 38 cities, including Bengaluru, Delhi, Patna, and Chennai, amongst others. The company is rapidly ramping up its pan-India expansion. In the coming months, Simple Energy will expand into Ranchi, Bhubaneshwar, Cuttack, and more.