Simple Energy Raises INR 250 Cr in Debt and Equity Round

Electric vehicle and clean energy startup Simple Energy has raised INR 250 crore in a funding round comprising a mix of debt and equity. 

The round was led by the family office of Arokiaswamy Velumani, founder of Thyrocare Technologies, with participation from the company’s founders. 

Debt financing accounted for INR 123 crore and came from HDFC Bank, Capitar Ventures, and other non-banking financial companies.

The Bengaluru-based startup has previously raised USD 20 million in a Series A round in July 2024, over USD 20 million in a bridge round in February 2023, and USD 21 million in a pre-Series A round in November 2021.

The fresh funds will be used to scale production capacity, expand its distribution network, and support ongoing product development efforts.

Founded in August 2019 by Suhas Rajkumar and Shreshth Mishra, Simple Energy designs and manufactures electric two-wheelers. Its flagship scooter offers a claimed range of up to 248 km per charge, a top speed of 105 kmph, and significant storage capacity.

Simple Energy is also preparing for an initial public offering in the second half of FY28. It aims to raise around INR 3,000 crore (USD 350 million) to support expansion, research and development, and a new manufacturing facility.

The company plans to increase production from 3,000 scooters per month to 10,000 by January and 15,000 by March next year. Monthly sales currently stand at about 2,000 units, while its retail network is expected to grow from nearly 80 stores to 200–250 outlets.

Simple Energy reported operating revenue of around INR 150–160 crore in FY26, up from about INR 40 crore in the previous fiscal year, with most sales coming from southern India.