Simple Energy, a Bengaluru-based electric two-wheeler startup, has raised $10 million in an all-equity bridge funding round led by existing investor Arokiaswamy Velumani (Founder of Thyrocare’s Family Office). The round also saw participation from existing investors – Balamurugan Arumugam and the Haran family office.
The funds raised will be used to expand its network across India, R&D, and marketing initiatives.
To date, Simple Energy has raised $51 million from marquee investors.
Founded in 2019 by Suhas Rajkumar and Shreshth Mishra, with Ankit Gupta later joining as co-founder, Simple Energy builds smart, high-performance electric two-wheelers with deep localisation. It offers an 8-year motor warranty.
It has full vertical integration of the powertrain, covering both development and manufacturing. The company’s manufacturing facility in Hosur, Tamil Nadu, delivers an annual production capacity of 150,000 vehicles.
In February 2025, Simple Energy launched Gen 1.5 of Simple One with a 248 km IDC range, followed by Simple OneS in March 2025 with a 181 km IDC range. These models are now available at the company’s 53 outlets across cities, including Bengaluru, Goa, Vijayawada, Hyderabad, Visakhapatnam, and Kochi, amongst others. The company is rapidly expanding nationwide, with plans to open 150 new stores and 200 service centres this year.
Looking ahead, the company is planning an IPO in FY’27, with a target of raising $350 million to fuel manufacturing expansion and other growth initiatives.
Suhas Rajkumar, CEO and Founder, said, “This investment will bolster our next phase of growth. It will help in making electric mobility more accessible to customers across India. Nearly 80% of the capital will be directed towards expanding our retail presence and building a robust dealer and service network. The rest of the funds will be employed towards R&D. With this influx, we are confident in scaling into both established and emerging markets – delivering India’s longest-range electric two-wheelers that meet the needs of Indian riders.”
A. Velumani, Founder, Thyrocare, said, “Simple Energy’s unique strengths are indigenously made with 1. Best Battery system and 2. Excellent motor Quality. Their focus and frugality with disciplined execution gives me confidence in its future. With localized operations, sharp operational & R&D focus, and a clear strategy for scaling, the company is well-positioned to be in top 3 players in EV 2W market in India by 2030.”
Balamurugan Arumugam said, “It is inspiring to see Simple Energy turn its ambitious vision into consistent growth and meaningful impact. Its focus on R&D and high-range electric two-wheelers, strategic market expansion, and strengthening customer engagement reflects the brand’s potential for lasting impact. We are excited to continue supporting their journey as they shape the future of two-wheeler mobility in the country.”
