Simple Energy Raises ₹1,750 Crore in Series C Round to Fund R&D, New Manufacturing Plant

Bengaluru-based electric scooter startup Simple Energy has announced the conclusion of its Series C funding round, with ₹1,750 crore raised. This is its biggest round yet, and follows soon after the ₹250 crore Series B round raised in June this year. It also accounts for the vast majority of the ₹2,530 crore the startup has raised in total. The company has previously said it is on track to launch an IPO, now targeted for 2028.

According to Simple Energy’s announcement, the money raised will go towards setting up a new manufacturing facility to expand its production capacity, research and development for upcoming products, network and supply chain expansion, and hiring to power its next phase of growth.

The funds were raised entirely through equity, with investment from the Dr Arokiaswamy Velumani Family Office, Simple Energy Founder and CEO Suhas Rajkumar, Co-founder and Ankit Gupta, individual investor Amit Mishra, and the Haran Family Office. A detailed breakup of each investor’s contribution and resulting equity stake has not yet been released.

In a statement, Rajkumar said, “This is a defining moment for Simple Energy. Over the past few years, we have built our core technology, products, manufacturing capabilities, and retail network in-house. This round gives us the capital to scale that foundation. Our priorities are a new manufacturing facility, higher production, an expanded distribution and service network, and the next generation of products. The continued support of our early investors reinforces our progress as we work to make Simple Energy one of India’s leading full-stack electric two-wheeler companies.”

Dr Velumani, Creator – Thyrocare, AVMLabs and AVMSmiles, said “I have been with Simple Energy since the early days, and I now repent I didn’t know it earlier. Growth of 4X in a year says both the company and industry are growing rapidly. SEPL owns end-to-end technology for chassis, battery, motor, and software. That is very rare in the Indian EV vertical. The next phase will focus on scaling in manufacturing, marketing, and retail networks. With tailwinds of global challenges in fossil energy, Simple is well positioned to be in the top three players of the EV2W vertical in India in just three years.”

Simple Energy recently launched its Wave family scooter, after focusing exclusively on high-performance models earlier. It currently has a production capacity of 10,000 units per month, and says it is one of India’s top 10 electric bike manufacturers by monthly sales. The company is present in over 60 towns and cities, with over 80 dealerships.