Fresh funding will support production scaling, market expansion, and future growth initiatives.
Bengaluru-based electric two-wheeler manufacturer Simple Energy has secured Rs 250 crore in a Series B funding round, marking a significant milestone in its growth journey as it looks to expand manufacturing capacity, strengthen operations, and accelerate its presence across India.
The funding comes at a time when India’s electric mobility sector continues to gain momentum, with manufacturers racing to increase production and meet growing consumer demand for electric vehicles.
Series B Round Attracts Strong Investor Support
The funding round combines both equity and debt investments and was led by the family office of Dr. Arokiaswamy Velumani, alongside participation from Simple Energy Founder and CEO Suhas Rajkumar and Co-founder and CFO Ankit Gupta.
On the debt side, HDFC Bank and Capitar Ventures participated in the round, while other NBFCs collectively contributed Rs 123 crore.
The successful raise reflects growing investor confidence in Simple Energy’s business model, manufacturing capabilities, and long-term vision in the competitive EV market.
Capital to Drive Manufacturing Growth
A significant portion of the newly raised capital will be directed toward manufacturing expansion and production scale-up.
Simple Energy currently operates with a manufacturing capacity of around 3,000 units per month. The company has already invested in strengthening its battery production line, with the upgraded capacity expected to begin contributing from August 2026.
The investment is expected to support the company’s goal of increasing output significantly as it prepares for the next phase of growth.
Beyond manufacturing, the funding will also be deployed across:
- Sales and distribution expansion.
- Marketing and brand-building initiatives.
- Research and development.
- Customer experience enhancement.
The balanced allocation reflects the company’s strategy of building both production capability and market demand simultaneously.
Revenue Growth Signals Strong Demand
According to Founder and CEO Suhas Rajkumar, the company has witnessed substantial growth over the past year.
Simple Energy’s revenue increased fourfold, rising from Rs 40 crore in FY25 to Rs 170 crore in FY26, highlighting growing consumer acceptance of its electric scooters.
“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,” Rajkumar said.
The company currently sells approximately 1,500 scooters per month and expects production and sales volumes to increase steadily as manufacturing capacity expands.
Ambitious Growth Targets Ahead
Simple Energy has outlined aggressive expansion plans for the coming years.
The company is targeting monthly sales of 10,000 scooters by March 2027, a significant increase from its current volumes.
To support this objective, it plans to expand its workforce across key business functions, including:
- Sales.
- Production.
- Marketing.
- Operations.
The company is also continuing to invest in product development as it strengthens its long-term EV roadmap.
Expanding Across India
Simple Energy’s retail footprint has grown steadily, with the company now operating through more than 71 outlets across 38 cities, including Bengaluru, Delhi, Chennai, and Patna.
The startup is now preparing for further expansion into new markets such as Ranchi, Bhubaneswar, and Cuttack as part of its broader pan-India growth strategy.
As demand for electric mobility continues to rise across both metropolitan and emerging cities, expanding distribution networks has become a key priority for EV manufacturers seeking nationwide scale.
Building a Full-Stack EV Company
For Simple Energy, the latest funding round represents more than just fresh capital.
The company sees the investment as a step toward evolving from a startup into a full-stack electric vehicle manufacturer with capabilities spanning product development, battery technology, manufacturing, distribution, and customer support.
Rajkumar noted that continued investments in manufacturing, R&D, and brand development are intended to strengthen consumer trust while preparing the company for long-term growth.
With fresh funding secured, expanding production capacity, and a growing national footprint, Simple Energy is positioning itself to play a larger role in India’s rapidly evolving electric mobility landscape.
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