Bengaluru-based electric two-wheeler manufacturer Simple Energy has completed its Series B funding round, raising ₹250 crore through a combination of debt and equity.
The funding round was led by the family office of Dr. Arokiaswamy Velumani, along with participation from Simple Energy Founder and CEO Suhas Rajkumar and Co-founder and CFO Ankit Gupta. Debt financing was provided by HDFC Bank, Capitar Ventures, and other non-banking financial institutions, which together contributed Rs 123 crore.
Capital to Support Manufacturing and Business Expansion
According to the company, a significant portion of the funds will be used to expand manufacturing operations and increase production capacity. The remaining capital will be allocated towards sales, marketing, and research and development activities.
Simple Energy currently operates a manufacturing facility with a production capacity of 3,000 units per month. The company stated that investments have been made in its battery production line, with the impact of the capacity ramp-up expected to become visible from August 2026.
Workforce Expansion Planned
As part of its growth plans, the company intends to increase hiring across multiple functions, including sales, production, and marketing.
Sales Network Continues to Expand
Simple Energy currently records monthly sales of around 1,500 units. The company has a presence through more than 71 outlets across 38 cities, including Bengaluru, Delhi, Patna, and Chennai.
The company also plans to expand its retail footprint into additional cities such as Ranchi, Bhubaneswar, and Cuttack in the coming months.
Revenue Growth
Simple Energy stated that its revenue increased four times over the past year, supported by expanding sales operations and a wider market presence.
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.”
Elctrik Speaks
The latest funding round comes at a time when electric two-wheeler manufacturers are focusing on scaling production, strengthening distribution networks, and improving product development capabilities. For Simple Energy, the fresh capital is expected to support capacity expansion and operational growth as competition in India's electric two-wheeler market continues to intensify.