Simple Energy Raises $10 Million to Expand Retail & Service Network

Bengaluru-based electric two-wheeler maker Simple Energy has raised $10 million in an all-equity bridge round on September 25, 2025. The funding was led by Dr. Arokiaswamy Velumani, Founder of Thyrocare’s Family Office, along with continued support from existing investors Balamurugan Arumugam and the Haran family office.

This fresh investment comes at a time when the company is preparing for large-scale expansion across the country.

Focus on Retail Expansion and Service Network

Nearly 80% of the new funds will be used to expand Simple Energy’s retail presence and strengthen its dealer and service network. The rest will go into research and development, helping the company improve its technology and products.

At present, Simple Energy operates 53 showrooms across Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Vizag, and Kochi. With this new funding, the company plans to open 150 more stores and 200 service centres in 2025. This step will help the brand reach both established and emerging markets across India.

Company Background and Achievements

Founded in 2019 by Suhas Rajkumar, with Shreshth Mishra and later Ankit Gupta as co-founders, Simple Energy builds electric scooters with full vertical integration of powertrains. The company runs a manufacturing facility in Hosur, Tamil Nadu, with the capacity to produce 150,000 vehicles annually.

Simple Energy also offers unique features in the market. For example, it became the first Indian OEM to provide an 8-year motor warranty. In addition, it recently started production of heavy rare-earth-free motors, which is a big step toward sustainable technology. Earlier in 2025, the company launched the Simple One Gen 1.5 with a range of 248 km, followed by the Simple One S with 181 km range.

Future Plans and Investor Confidence

According to CEO Suhas Rajkumar, this investment will fuel the company’s next growth phase. Investors such as Dr. Velumani and Balamurugan Arumugam also expressed strong confidence in the brand’s R&D, disciplined approach, and potential to become a top 3 EV two-wheeler player by 2030.

So far, Simple Energy has raised $51 million in total funding. Looking ahead, the company plans an IPO in FY’27 with a target of raising $350 million to expand manufacturing and accelerate growth.

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