Partnership · Mobility & Logistics

Simple Energy partners IDFC FIRST Bank for EV financing

What they do

Simple Energy manufactures electric scooters sold through its own stores

The company partnered with IDFC FIRST Bank to offer loans at dealerships

This follows a recent Rs 250 crore funding round led by a family office

Simple Energy sells electric scooters under brands like Simple One and Ultra.
Products include Simple Wave, One, OneS, and Ultra models.
The Simple Ultra offers a range of up to 400 km.
Pricing starts at Rs 1,59,999 for the OneS Gen 2.
The company operates 73 stores in 39 cities including Bengaluru and Delhi.
Features include the Simple Connect app and 24x7 roadside assistance.
A subscription service called Simple SuperPack is also available.
Advanced architecture and software are central to their engineering approach.

Family office of Dr. Arokiaswamy Velumani (lead) — Led the Series B funding round.
Suhas Rajkumar (participant) — Founder and CEO who invested in the round.
Ankit Gupta (participant) — Co-founder and CFO who invested in the round.

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