Funding · Mobility & Logistics

Simple Energy raises Series A funding

By Startup Enthusiast · 27 February 2025

What they do

Simple Energy makes electric scooters with models like Simple One and Simple Wave

The company is raising an undisclosed Series A round to expand distribution and products

It sells 1,000 scooters a month and aims for 2,000-4,000 by August

Electric vehicle startup Simple Energy is raising an undisclosed amount of Series A funding.
Founder-CEO Suhas Rajkumar said the round will close in the next few weeks and be announced in a couple of weeks.
The funds will be used to expand the distribution network and add to the product pipeline.
After Series A, the company expects no further fund raise for at least the next two quarters.
The company has had two years of consistent cash flow.
Current monthly scooter sales are 1,000 units.
Target monthly sales by August are 2,000 to 4,000 scooters.
Target top line by August is Rs 400 crore.

Simple Energy has invested Rs 150 crore in its Hosur plant with an annual production capacity of 300,000 vehicles.
It currently has 15 stores and plans to reach 400 stores in the next 1.5 years.
To match a 400-store footprint, the company targets 20,000 scooters per month (200,000 units per year).
No capacity expansion is needed for at least the next 12 months; future investments depend on new products.

Simple Energy sells electric scooters under models: Simple Wave, Simple One, Simple OneS, and Simple Ultra.
Simple Wave starts at ₹1,77,999, has a range up to 190 km, and a top speed of 90 km/h.
Simple One starts at ₹2,04,999, has a range up to 265 km, and a top speed of 115 km/h.
Simple OneS starts at ₹1,77,999, has a range up to 190 km, and a top speed of 90 km/h.
Simple Ultra starts at ₹2,44,999, has a range up to 400 km, and a top speed of 115 km/h.
Services include 24x7 roadside assistance, extended warranty (battery+motor), subscription plan Simple SuperPack, and Simple Connect app.
The company has 50+ stores (according to its website).

The company plans to announce more products this year.
After Series A, no further fund raise is needed for at least the next two quarters.
No capacity expansion is needed for at least the next 12 months.

Product: based EV maker
Customers: Individual consumers seeking affordable electric two-wheelers
How it makes money: Direct sales of electric scooters through online and physical retail outlets
What sets it apart: Mass production scale and customer-focused design for Indian market