Simple Energy Raises Rs 1,750 Crore in All-Equity Series C to Build a New Electric Scooter Plant

Bengaluru-based Simple Energy has closed a Series C funding round of Rs 1,750 crore, or roughly $180 million, raised entirely as equity. The electric two-wheeler maker said on Wednesday that it is its largest round so far and the third-largest ever raised by an Indian electric two-wheeler company.

The round was led by the family office of Dr A Velumani, the founder of diagnostics chain Thyrocare, who has been the company's anchor backer. Founder and CEO Suhas Rajkumar and co-founder and CFO Ankit Gupta also invested, along with Bengaluru-based investor Amit Mishra and the Haran Family Office. The company did not disclose its valuation or how much each participant put in.

Where the money goes

Simple Energy said the capital will fund a new manufacturing facility, higher production, a wider sales and service network, hiring, marketing, supply chain and research for its next product cycle. It did not say where the new plant will be located, how large it will be or when it will start.

The company currently has capacity to make 10,000 vehicles a month. It sells through more than 80 outlets across over 60 cities, including Bengaluru, Delhi, Hyderabad, Chennai and Patna. Its line-up has expanded in the past eight months with the Simple Wave, aimed at families, and the Simple Ultra, pitched at buyers who want performance, alongside the original Simple One.

The company says monthly sales have grown more than fourfold over the past year and that it now ranks among India's top 10 electric two-wheeler makers by monthly volume, though it has not shared absolute sales numbers.

The in-house technology pitch

Simple Energy's argument to investors rests on vertical integration. The company designs and builds its own chassis, battery pack, motor and software, rather than buying key systems from suppliers. It says it was the first Indian manufacturer to commercially produce motors that use no heavy rare-earth materials, a point that has gained weight as global supply of those elements tightens, and that it offers a lifetime warranty on its motor and battery.

Velumani said owning the full technology stack is uncommon among Indian EV makers and predicted Simple Energy would be among the top three players in its segment within three years. That is an investor's forecast, and the company did not publish projections to support it.

A crowded, capital-hungry market

The raise lands in a segment that has become both more competitive and more demanding of capital. Listed players such as Ola Electric and Ather Energy compete with established motorcycle makers like TVS, Bajaj and Hero, all of whom now sell electric scooters with large dealer networks behind them. Newer makers need money not just for product development but to build service coverage, which remains a key concern for buyers.

Simple Energy has funded itself largely through family offices and wealthy individuals rather than venture funds or public markets. The Series C follows a Rs 250 crore mix of debt and equity raised in June 2026, also led by Velumani's family office, and takes total funding past Rs 2,530 crore. Other backers include the Desai Family Office, promoters of Apar Industries, and the Vasavi Family Office.

The deal adds to a busy stretch for Indian electric-mobility funding, following motorcycle maker Ultraviolette's recent $85 million raise.

This is an original summary based on public reporting. See our editorial policy for how we source, write, and correct our stories.