Simple Energy raises USD 10 million in Bridge Round

Bengaluru-based electric two-wheeler manufacturer Simple Energy has raised USD 10 million in an all-equity bridge funding round. The round was led by existing investor Dr. Arokiaswamy Velumani (Founder of Thyrocare’s Family Office), along with Balamurugan Arumugam and the Haran family office.

The company said the funds will primarily support expansion of its retail and service network across India, along with marketing initiatives. A part of the capital will also be allocated to research and development.

At present, Simple Energy operates 53 outlets in cities including Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Visakhapatnam, and Kochi. It plans to open 150 new stores and 200 service centres across India during 2025.

Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, with Ankit Gupta later joining as co-founder, Simple Energy manufactures electric two-wheelers with in-house development and production of key components. Its facility in Hosur, Tamil Nadu, has an annual capacity of 150,000 vehicles. The company has also begun production of heavy rare-earth-free motors.

Commenting on the fundraise, CEO and Founder Suhas Rajkumar said, “This investment will bolster our next phase of growth. It will help in making electric mobility more accessible to customers across India. Nearly 80% of the capital will be directed towards expanding our retail presence and building a robust dealer and service network. The rest of the funds will be employed towards R&D. With this influx, we are confident in scaling into both established and emerging markets – delivering India’s longest-range electric two-wheelers that meet the needs of Indian riders.”

Investor Dr. A. Velumani said, “Simple Energy’s unique strengths are indigenously made with 1. Best Battery system and 2. Excellent motor Quality. Their focus and frugality with disciplined execution gives me confidence in its future. With localized operations, sharp operational & R&D focus, and a clear strategy for scaling, the company is well-positioned to be in top 3 players in EV 2W market in India by 2030.”

Another investor and mentor to several high-growth companies, Balamurugan Arumugam said, ‘It is inspiring to see Simple Energy turn its ambitious vision into consistent growth and meaningful impact. Its focus on R&D and high-range electric two-wheelers, strategic market expansion, and strengthening customer engagement reflects the brand’s potential for lasting impact. We are excited to continue supporting their journey as they shape the future of two-wheeler mobility in the country.”

To date, Simple Energy has raised USD 51 million from investors. The company is also planning an IPO in FY 2027, targeting USD 350 million to fund further manufacturing capacity and growth initiatives.

In February 2025, the company launched the Gen 1.5 Simple One (IDC range: 248 km), followed by the Simple OneS in March 2025 (IDC range: 181 km). Both models are currently available through its retail network.

Also read: Simple Energy raises USD 20 million in Series A round