Funding
Simple Energy closes ₹250 crore Series B
By Startup Enthusiast ·
- Date
- Company
- Simple Energy
- What it does
- Bengaluru electric scooter maker
- Kind
- Funding
- Amount
- ₹250 crore
- Stage
- Series B
- Based in
- Bengaluru
- Founded
- 2019
What they do
The firm wrapped up its Series B at Rs 250 crore, a blend of debt and equity, on 31 May 2026
What happened
Debt of Rs 123 crore came from HDFC Bank, Capitar Ventures and other non-bank lenders
Why it matters
About 70 per cent goes to working capital and production ramp-up, the rest to marketing and sales
The details
- Simple Energy closed its Series B at Rs 250 crore, part debt and part equity.
- Equity side was led by Arokiaswamy Velumani's family office, with CEO Suhas Rajkumar and CFO Ankit Gupta also investing.
- An earlier tranche of Rs 126.7 crore from founders and existing investors was part of the same round.
- It targets monthly sales near 10,000 scooters by March 2027; plant use is about 35% now.
Investors
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
More on Simple Energy
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- Simple Energy launches Wave family scooter for Rs 1.10 lakh3 September 2026 · Launch
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- Simple Energy to launch Wave e-scooter on September 220 August 2026 · Launch
- Simple Energy widens Siemens software use4 August 2026 · Partnership
- Simple Energy to launch family electric scooter on Sept 222 July 2026 · Launch
- Simple Energy partners IDFC FIRST Bank for EV financing6 July 2026 · Partnership
- Simple Energy eyes listing in second half of FY281 June 2026 · IPO