Bengaluru: Bengaluru-based electric two-wheeler manufacturer Simple Energy has raised Rs 250 crore with a mix of debt and equity. The round was led by the family office of Arokiaswamy Velumani, along with Founder and CEO of Simple Energy Suhas Rajkumar, and co-founder and CFO Ankit Gupta.
The debt partners include HDFC Bank and Capitar Ventures, with other NBFCs bringing in Rs 123 crore.
The majority of the proceeds will be deployed to scale up production, including manufacturing and capacity expansion. The remaining funds will be used across sales, marketing, and R&D to strengthen the product roadmap and customer experience, the company said.
Simple Energy currently operates at a capacity of 3,000 units per month. For the last few months, the company has invested further in its battery line, with the ramp-up expected to reflect from August 2026.
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 Rs 40 crore in FY25 to Rs 170 crore in FY26. 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."
Currently, Simple Energy's monthly sales are about 1,500 units, and the company is operating in more than 71 outlets across 38 cities, including Bengaluru, Delhi, Patna, and Chennai, among others. The two-wheeler manufacturer is also rapidly ramping up its pan-India expansion. In the coming months, Simple Energy will expand into Ranchi, Bhubaneshwar, Cuttack, and more.