Bengaluru-based electric two-wheeler maker Simple Energy has raised Rs 1,750 crore, or $182 million, in a Series C funding round, according to Entrackr and other outlets. It is the company’s largest fundraise to date and the third-largest funding round by an Indian electric two-wheeler maker, according to the report.
The round was led by the family office of Dr Arokiaswamy Velumani, the founder of Thyrocare Technologies, with participation from the Haran Family Office and the angel investor Amit Mishra. The founder and chief executive, Suhas Rajkumar, and the co-founder and chief financial officer, Ankit Gupta, also invested their own money in the round, according to Entrackr.
The money will be used to set up a new manufacturing facility, increase production capacity, expand the distribution and service network, and hire talent. Entrackr’s list also includes research and development for upcoming products, marketing and supply chain operations. The reports reviewed do not give the location of the new factory or its planned capacity.
Simple Energy’s current capacity is 10,000 units a month, and it has more than 80 outlets across more than 60 cities, according to the reports. Its products are the Simple One, the Simple Wave and the Simple Ultra electric scooters. With the new round, the total capital the company has raised has crossed Rs 2,530 crore, or $263 million.
The company’s growth is the basis of the round. Entrackr reports that operating revenue in FY26 was Rs 150 to 160 crore, against Rs 40 crore in FY25, which is nearly four times as much, and that monthly sales rose fourfold from a year earlier. The reports reviewed do not give the company’s losses or its sales in units.
The scale of the round compared with the company’s revenue is large. A raise of Rs 1,750 crore against FY26 operating revenue of Rs 150 to 160 crore is about 11 to 12 times annual revenue, which is IndiaX24’s own calculation from the reported figures and shows that investors are paying for expected growth and not for current sales.
The company makes several claims about its technology. It says that it is the first Indian maker to commercially produce motors that do not use heavy rare-earth elements, and that it is the first to offer lifetime warranties on motors and batteries, according to Entrackr. Those are the company’s own claims and have not been independently verified by IndiaX24.
Simple Energy was founded in 2019 by Suhas Rajkumar and Shreshth Mishra, and Ankit Gupta joined later as a co-founder, according to Entrackr. The reports reviewed do not give the company’s current market share or the names of its main competitors.
The round is notable because a family office led it. A family office is a private investment firm that manages the wealth of a wealthy family, which is general background and not part of the reports. The reports reviewed do not give the valuation at which Simple Energy raised the money.
The Series C of Rs 1,750 crore is about 69 per cent of the Rs 2,530 crore the company has raised in total, a calculation by IndiaX24 from the two figures, which means that most of its funding has come in this one round.
IndiaX24 will report the location of the new plant and the company’s sales figures when they are announced.
Image: Electric scooters on display in India (file photo; a stand-in image, not a Simple Energy model). Photo by Jinoy Tom Jacob, licensed under CC BY-SA 4.0, via Wikimedia Commons.
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