Funding · Mobility & Logistics

Simple Energy raises ₹126.7 crore ahead of IPO

What they do

Simple Energy makes electric scooters like Simple One and Simple Ultra

It raised ₹126.7 crore from existing backers and founders, with an IPO planned in FY27

The company aims to be EBITDA-positive before end of FY26 and net profitable before IPO

Simple Energy raised ₹126.7 crore from existing backers and founders.
Iheart Properties (Arokiaswamy Velumani) invested about ₹18.6 crore.
Founders Suhas Rajkumar and Ankit Gupta each invested ₹13.5 crore.
The company plans an IPO in Q2–Q3 FY27, targeting a $350 million raise.
It aims to be EBITDA-positive before the end of FY26 and net profitable before the IPO.
The Gen 2 lineup of scooters was rolled out in January 2026.

The funding comes as Simple Energy prepares for a public listing.
Founders collectively hold 35% of the company.
Iheart Properties holds 6.6%, Vasavi Greentech 5%, and 1Digi Investment Management 4.4%.
The company's FY25 revenue was ₹44.3 crore (Tracxn).

Simple Energy is an electric vehicle manufacturer based in Bengaluru.
Its products include the Simple Wave, Simple One, Simple OneS, and Simple Ultra electric scooters.
The Simple Ultra starts at ₹2,44,999, has 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.
Current monthly manufacturing capacity is 5,000 units, scalable to 15,000 units with incremental capex.
Key focus markets are North, Central India, and Northeast, with strong demand in Maharashtra, Gujarat, Goa.
The company has 50+ stores and offers 24/7 roadside assistance, extended warranty, and a subscription service.

Iheart Properties (participated) — Invested about ₹18.6 crore; holds 6.6% stake.
Suhas Rajkumar (founder) — Invested ₹13.5 crore; co-founder.
Ankit Gupta (founder) — Invested ₹13.5 crore; co-founder.

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