Electric two-wheeler maker Simple Energy has raised $10 million in an all-equity bridge funding round to fuel its expansion efforts across India. The capital infusion comes from Dr. Arokiaswamy Velumani’s family office, along with continued backing from existing investors, including Balamurugan Arumugam and the Haran family office.
With the new funding, Simple Energy is poised to ramp up its retail and service infrastructure. The company already has 53 showrooms in cities such as Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Visakhapatnam, and Kochi. It now plans to launch 150 more retail outlets and 200 service centres during 2025, targeting deeper penetration into both mature and emerging markets.
On the product front, Simple Energy is doubling down on R&D and advanced EV technologies. Founded in 2019 by Suhas Rajkumar, with co-founders Shreshth Mishra and Ankit Gupta, the firm has developed long-range electric two-wheelers with full vertical integration of the powertrain. Its models include the Gen 1.5 Simple One (248 km IDC range) and OneS (181 km IDC range), manufactured at its Hosur facility with an annual production capacity of 150,000 units.
According to CEO Suhas Rajkumar, about 80 percent of the new capital will be invested into building the retail, dealer, and service network; the remaining 20 percent will go into R&D. He emphasized that the funding will help bring “India’s longest-range EVs closer to customers.”
Investor confidence in Simple Energy is strong. Dr. Velumani praised the startup’s emphasis on “locally made, high-quality batteries and motors” and its execution discipline, projecting that Simple Energy could become one of India’s top three electric two-wheeler firms by 2030.
To date, Simple Energy has raised $51 million from investors. The company is planning an IPO in fiscal year 2027 to raise up to $350 million, aimed at further scaling manufacturing and expansion efforts.
