Simple Energy Raises $10 Million to Expand Electric Scooter Network

Bengaluru-based electric vehicle manufacturer Simple Energy has raised $10 million in a bridge funding round to expand its retail presence across India. The all-equity round was led by existing investor Arokiaswamy Velumani, founder of diagnostic chain Thyrocare, along with investors Balamurugan Arumugam and the Haran family office.

Simple Energy plans to use about 80% of the funds to expand its retail network and build dealer and service centers. The remaining money will go toward research and development activities. The company currently operates 53 showrooms in cities including Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Visakhapatnam, and Kochi. It aims to open 150 stores and 200 service centers across India in 2025.

"This investment will help make electric mobility more accessible to customers across India," said CEO Suhas Rajkumar. "We are confident in scaling into both established and emerging markets with India's longest-range electric two-wheelers."

Simple Energy has now raised a total of $51 million from investors. The company plans to go public in the 2026-27 financial year, targeting $350 million to fund manufacturing expansion and growth initiatives.