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Funding · Mobility & Logistics

Simple Energy plans $30-50M raise ahead of 2027 IPO

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Simple Energy logo
Date
Company
Simple Energy
What it does
Electric two-wheeler manufacturer
Kind
Funding
Amount
$30-50M
Stage
growth
Based in
Bengaluru
Founded
2019
Sector
Mobility & Logistics

What they do

Simple Energy makes electric two-wheelers like the Simple One and Simple Ultra

What happened

It is looking to raise $30-50 million in the next two months from existing investors and family offices, and plans to start the IPO process in 2026 for a…

Why it matters

The company has grown from 10 stores in January 2025 to about 80 now, and aims to reach 150 stores and 200 service stations by March 2026

The details

  • Simple Energy is looking to raise $30-50 million in the next two months (January-March 2026).
  • The round is likely backed by existing investors and family offices.
  • The company plans to start the IPO process in 2026 and list in 2027.
  • It has raised about $50 million in total since inception.
  • Existing investors include the family offices of Dr Arokiaswamy Velumani, Haran, Desai of Apar Industries, Vasavi, and Balamurugan Arumugam.
  • The company has launched Gen 2 models with changes to chassis, battery, motor, and software architecture, moving from a split battery to a single fixed pack.
  • Immediate focus is on stabilising the Gen 2 portfolio, scaling retail presence, and evaluating capacity expansion.

The bigger picture

  • TVS Motor became the largest electric two-wheeler manufacturer in 2025, and industry registrations crossed 1.27 million.
  • Simple Energy's strategy is to build trust on technology, not price, and avoid loss-led growth.
  • Month-on-month losses have dropped by about 50%, and breakeven is expected in 1-2 quarters.
  • The company considers 350-400 stores the bare minimum to compete, and its current store size is about 20% of Ather's.

About the business

  • Simple Energy is a Bengaluru-based electric two-wheeler manufacturer.
  • Products include the Simple Wave, Simple One, Simple OneS, and Simple Ultra.
  • The Simple Ultra starts at ₹2,44,999, offers a range up to 400 km, and a top speed of 115 km/h.
  • The Simple One starts at ₹2,04,999, range up to 265 km, top speed 115 km/h.
  • The Simple OneS starts at ₹1,77,999, range up to 190 km, top speed 90 km/h.
  • Revenue in FY25 was about ₹40 crore, a 50% growth over the previous year.
  • Monthly retail volumes target 2,000+ from January 2026.
  • Store count grew from 10 in January 2025 to about 80 in January 2026, with a target of 150 stores and 200 service stations by March 2026.

What happens next

  • Stabilise the Gen 2 portfolio.
  • Scale retail presence to 150 stores and 200 service stations by March 2026.
  • Evaluate capacity expansion (no concrete plans yet).
  • Start IPO process in 2026 for a 2027 listing.

The deal

Type
funding

Investors

Founders

  • Suhas Rajkumar, founder & CEO
  • Shreshth Mishra, co-founder
  • Ankit Gupta, co-founder (joined later)

About Simple Energy

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

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