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Bengaluru-based electric two-wheeler maker Simple Energy has raised Rs 1,750 crore ($182 million) in a Series C funding round. This is its largest fundraise to date and the third-largest funding by an Indian electric two-wheeler OEM, according to the company. The fundraise was led by the family office of Dr Arokiaswamy Velumani, founder of Thyrocare Technologies, along with founder and CEO Suhas Rajkumar and co-founder and CFO Ankit Gupta. Bengaluru-based HNI Amit Mishra and the Haran Family Office also participated. The entire capital was raised through equity. With this fundraise, Simple Energy’s total capital raised has crossed Rs 2,530 crore ($263 million). The fresh capital will be used to set up a new manufacturing facility, increase production capacity, expand its distribution and service network, hire talent and fund research and development for its next product cycle. The company will also use the funds for marketing and supply chain operations. Simple Energy currently has a production capacity of 10,000 units per month and operates more than 80 outlets across over 60 cities. Its product portfolio includes Simple One, Simple Wave and Simple Ultra electric scooters. The company said its monthly sales have grown more than fourfold over the past year. It has launched Simple Wave and Simple Ultra in the past eight months for the family and performance scooter segments. Simple Energy reported operating revenue of around Rs 150-160 crore in FY26, compared with about Rs 40 crore in FY25. This represents a nearly fourfold increase in revenue. The company currently derives most of its sales from southern states. Simple Energy had raised Rs 250 crore through a mix of debt and equity in June 2026, following a $10 million all-equity bridge fundraise in September 2025. Before that, it raised $20 million in Series A funding in July 2024, more than $20 million in a bridge fundraise in February 2023 and $21 million in pre-Series A funding in November 2021. Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, Simple Energy later brought Ankit Gupta on board as a cofounder. The company develops electric two-wheelers and key components such as chassis, battery, motor and software in-house. Simple Energy claims to be the first Indian OEM to commercially produce heavy rare-earth-free motors. It also claims to be the first Indian OEM to offer a lifetime warranty on its motor and battery.
document fetched 2026-10-01 03:04