Electric Scooter Startup Simple Energy Raise Rs 250 crore in Series B Round

Bengaluru-based EV startup Simple Energy closed its Series B funding round, raising ₹250 crore (~$26.3 million) in a mix of debt and equity.

The lead equity investor of the round is the existing investor family office of Dr Arokiaswamy Velumani (Thyrocare founder). The debt part of ₹123 crore is raised from HDFC Bank, Capitar Ventures, and other NBFCs

Founded in 2019 by Suhas Rajkumar and Shreshth Mishra (as a garage startup in Bengaluru), Simple Energy is an electric two-wheeler startup that makes high-performance electric vehicles (EVs). 

The company, best known for its Simple One scooter (launched in 2023), has a manufacturing plant in Hosur, Tamil Nadu, with an annual capacity of 300,000 vehicles.

Apart from the Simple One scooter, other electric two-wheeler in the Simple Energy portfolio are the Simple One Gen 2 (265 km range), Simple OneS (190 km range, 90 km/h) and Simple Ultra (400 km range, 115 km/h). 

It has established a strong position in the western and southern Indian states of Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana, and Kerala. 

The company has demonstrated two years of consistent cash flow and is focusing on retail expansion, R&D, and product innovation ahead of its public listing. It designs and manufactures its own battery, motor, chassis, and software. 

The startup is India’s first manufacturer of electric scooters powered by rare-earth-free motors, which is extremely critical given global supply chain constraints. 

Simple Energy is IPO-bound, planning to go public in FY 2027, targeting ~$350 million in proceeds to fund manufacturing expansion and growth initiatives. It will be the third EV two-wheeler company to go public, after Ola Electric (2024) and Ather Energy (2025). 

In October 2025, the Bengaluru-based company raised US$10 million in an all-equity bridge funding round from Dr Arokiaswamy Velumani, Balamurugan Arumugam, and the Shekha Haran family office.

Simple Energy plans to use nearly 80% of the recent funding to build a pan-India dealer and service network (targeting 150 stores and 200 service centres this year).