Simple Energy, an electric two-wheeler maker based in Bengaluru, said on 30 September 2026 that it had closed a Series C round of ₹1,750 crore (about $180m). The round was made up entirely of equity and was led by the family office of Dr. Arokiaswamy Velumani, the founder and chairman of Thyrocare Technologies.
The Haran Family Office and Bengaluru-based investor Amit Mishra also took part, as did two of the company's own executives: founder and chief executive Suhas Rajkumar and co-founder and chief financial officer Ankit Gupta. The company did not disclose its valuation or how much each investor put in.
Simple Energy described the deal as its largest funding round to date. According to AutocarPro, the company also said it was the third-largest round raised by an Indian electric two-wheeler manufacturer.
“With tailwinds of global challenges in fossil energy, Simple is well positioned to be in the top 3 players of the EV2W vertical in India in just 3 years”Dr. Arokiaswamy Velumani, Founder and Chairman, Thyrocare Technologies
What Simple Energy does
Rajkumar founded Simple Energy in 2019, with Shreshth Mishra as co-founder; Gupta joined later as a further co-founder, according to AutocarPro and Inc42. The company sells electric scooters in India, including the Simple One, the Simple OneS, the Simple Ultra and the Simple Wave, a scooter range aimed at families that Inc42 reported starts at ₹1.10 lakh (about $1,130) ex-showroom.
The company develops and builds its own chassis, battery, motor and software, DealStreetAsia reported, and has put into commercial production motors that do not use heavy rare earth materials. It says it has a production capacity of 10,000 units a month and more than 80 outlets in over 60 cities.
Simple Energy says it ranks among India's top 10 electric two-wheeler makers by monthly sales, and AutocarPro reported that its monthly sales have risen more than fourfold over the past year. Inc42 put its August sales at 1,508 units, down 9.5% from 1,666 in July. Rajkumar told Inc42 that revenue reached about ₹171 crore (about $17.6m) in the 2026 financial year, up from roughly ₹44 crore (about $4.5m) a year earlier.
What the money is for
The company said the money would go towards a new manufacturing facility, higher production and a larger sales and service network, as well as hiring, marketing, supply chain and research and development for its next product cycle. It did not give a location, capacity or timeline for the new plant.
Rajkumar said in a media statement reported by DealStreetAsia that the priorities were a new manufacturing facility, higher production and a wider distribution and service network. According to Inc42, the company plans to grow to 160 to 170 dealer-operated outlets by March 2027, and Rajkumar said it aims to become one of India's leading full-stack electric two-wheeler companies.
Velumani said he had backed Simple Energy since its early days and that the next phase would focus on scaling manufacturing, marketing and retail networks. He also predicted that the company could reach the top three in India's electric two-wheeler segment within three years. The company did not publish projections to support that forecast.
The funding so far
The Series C followed a ₹250 crore (about $25.7m) raise in June 2026, which Inc42 described as a Series B and other outlets described as a mix of debt and equity. Velumani's family office led that round too, and Rajkumar and Gupta also invested.
Including the new round, Simple Energy has raised more than ₹2,530 crore in total, which Inc42 put at about $264m in equity. AutocarPro listed earlier backers including Velumani's family office, Amit Mishra, Balamurugan Arumugam, the Haran Family Office, the Desai Family Office, which belongs to the promoters of Apar Industries, and the Vasavi Family Office.
A crowded market for electric scooters
The round came during a busy year for funding among Indian electric two-wheeler makers. DealStreetAsia noted that Ather Energy raised ₹1,200 crore (about $123m) from the India-Japan Fund, Hero MotoCorp and its founders in 2026, and that Ola Electric approved plans to raise up to ₹1,000 crore (about $103m) through a rights issue.
Company website: simpleenergy.in