Strategic Funding to Accelerate EV Growth
Bengaluru-based electric two-wheeler manufacturer Simple Energy has raised $10 million in an all-equity bridge funding round. Led by existing investor Dr. Arokiaswamy Velumani, founder of Thyrocare’s Family Office, the round also saw participation from Balamurugan Arumugam and the Haran family office. The capital will primarily support retail expansion, marketing initiatives, and research and development, with nearly 80% earmarked for scaling the company’s stores and service centres across India.
Retail Expansion and Nationwide Reach
Simple Energy currently operates 53 showrooms in cities including Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Visakhapatnam, and Kochi. By the end of 2025, the company plans to open 150 stores and 200 service centres nationwide, making electric mobility more accessible to Indian customers.
Pioneering Long-Range EV Two-Wheelers
The company recently launched the Gen 1.5 Simple One with a 248 km IDC range and Simple OneS with a 181 km IDC range. Simple Energy claims to be the first Indian OEM to fully integrate powertrain development and manufacturing, offering an eight-year motor warranty for unmatched reliability.
CEO Insight
Suhas Rajkumar, CEO and Founder, stated, “This investment will bolster our next phase of growth, helping scale India’s longest-range electric two-wheelers into both established and emerging markets.”
Investor Confidence
Dr. Velumani emphasized Simple Energy’s strengths in battery systems, motor quality, and localized operations. Investor Balamurugan Arumugam highlighted the company’s focus on R&D, high-range EVs, and strategic market expansion, reinforcing confidence in its potential to shape India’s two-wheeler mobility future.
Manufacturing Capability and Future Plans
The company’s Hosur facility has an annual capacity of 150,000 vehicles. To date, Simple Energy has raised $51 million and aims to launch an IPO in FY’27 to raise $350 million for further growth.
