Simple Energy raises ₹250 crore in Series B funding round

Bengaluru-based electric two-wheeler manufacturer Simple Energy has raised ₹250 crore in a Series B funding round through a combination of debt and equity. The company also reported a fourfold increase in revenue, from ₹40 crore in FY2025 to ₹170 crore in FY2026.

The 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 companies, which together contributed ₹123 crore.

According to the company, most of the funds will be used for manufacturing and production capacity expansion, while the remaining capital will be allocated to sales, marketing, and research and development activities.

Simple Energy currently has a manufacturing capacity of 3,000 units per month. The company stated that it has invested in expanding its battery production line, with the increased capacity expected to become operational from August 2026. It also plans to expand its workforce across sales, production, and marketing functions.

Commenting on the development, Suhas Rajkumar 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.”

Simple Energy currently sells around 1,500 scooters per month and operates more than 71 outlets across 38 cities, including Bengaluru, Delhi, Patna, and Chennai. The company said it plans to expand into additional markets, including Ranchi, Bhubaneswar, Cuttack and more.

Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, with Ankit Gupta later joining as co-founder, Simple Energy develops and manufactures key vehicle components, including batteries, motors, chassis, and software, in-house.

Also read: Simple Energy raises USD 10 million in Bridge Round