Funding · Mobility & Logistics

Simple Energy raises $10 million bridge round

By Startup Enthusiast · 25 September 2025

What they do

Simple Energy makes high-performance electric scooters with long range

It raised a $10 million bridge round led by Dr Arokiaswamy Velumani's family office

The funds will expand its retail network to 150 stores by March 2026

Simple Energy raised $10 million in an all-equity bridge funding round.
The round was led by Dr Arokiaswamy Velumani, founder of Thyrocare's Family Office.
Balamurugan Arumugam and the Haran family office also participated.
The company will use 80% of the funds for retail presence and dealer/service network expansion.
The remaining funds will go toward marketing and R&D.
Simple Energy plans to open 150 stores and 200 service centres by the end of 2025.
It aims to reach 100 stores by December 2025 and 150 by March 2026.
The company is targeting an IPO in FY27 to raise about $350 million for manufacturing expansion.

Simple Energy had delayed EV deliveries by over a year due to regulatory changes and funding delays.
Sales were stagnant until December 2024 but have since grown 45% month-on-month in volume and revenue.
The company sold about 3,300 e-scooters in the first nine months of 2025, a 2.5X jump from all of 2024.
Its August 2025 revenue was ₹25 crore, and it posted ₹27 crore in Q1 FY26.
The company is pursuing profitability after a ₹62.6 crore net loss in FY24 on operating revenue of ₹6.6 crore.

Simple Energy manufactures high-performance electric scooters with deep localisation of components.
Its products include the Simple One, Simple OneS, Simple Wave, and Simple Ultra.
The Simple One offers a range of up to 265 km, top speed 115 km/h, and starts at ₹2,04,999.
The Simple OneS offers up to 190 km range, top speed 90 km/h, starting at ₹1,77,999.
The Simple Ultra offers up to 400 km range, top speed 115 km/h, starting at ₹2,44,999.
It operates a manufacturing facility in Hosur, Tamil Nadu, with an annual capacity of 150,000 vehicles.
Simple Energy is the first Indian OEM to fully integrate powertrain development and manufacturing.
It is also the first Indian OEM to commercially produce heavy rare-earth-free motors.
The company offers an 8-year motor warranty and currently has 53 showrooms across multiple states.

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