Simple Energy Secures $180 Million Series C Led by Velumani
Bengaluru-based electric two-wheeler startup Simple Energy raised $180 million in a Series C equity round led by Dr. Arokiaswamy Velumani Family Office.
Simple Energy has closed its largest funding round to date, raising $180 million in a Series C equity round. The investment was led by the Dr. Arokiaswamy Velumani Family Office, with participation from Haran Family Office and angel investor Amit Mishra.
Founder and CEO Suhas Rajkumar and cofounder and CFO Ankit Gupta also participated in the round. The fresh capital brings Simple Energy's total equity capital raised to $264 million.
Use of proceeds and strategic priorities
The new funds will be directed toward supply chain expansion, increased production, and strengthening the company's retail and service network. Research and development for future products is also a key priority.
Suhas Rajkumar outlined the immediate goals. "Our priorities are a new manufacturing facility, higher production, an expanded distribution and service network, and the next generation of products," he said.
Company background and market position
Founded in 2019 by Suhas Rajkumar, the Bengaluru-based company designs and manufactures electric two-wheelers for the Indian market. It develops key components like the chassis, battery, motor, and software in-house.
Simple Energy's current lineup includes the Simple One, OneS, and Ultra scooters. It recently launched the Simple Wave, an affordable family scooter series.
Recent performance and expansion plans
The company reported selling 1,508 units in August, a 9.5% decrease from its July sales of 1,666 units. It currently operates 80 sales outlets across 60 cities, including Delhi, Patna, Hyderabad, and Chennai.
Simple Energy claims a monthly production capacity of 10,000 units. Its strategic plan involves a significant retail expansion.
Dr. Arokiaswamy Velumani, whose family office led the round, expressed strong confidence. He stated the next phase would focus on scaling manufacturing, marketing, and retail networks, aiming for Simple Energy to become a top-three player in India's electric two-wheeler market within three years.
Financial trajectory and prior funding
This Series C round follows a ₹250 crore mix of debt and equity round raised just three months prior, in June 2026. The company has shown substantial revenue growth, reporting approximately ₹171 crore in FY26, a significant increase from roughly ₹44 crore in FY25.
Rajkumar attributed this growth to underlying product demand rather than any single factor. The company has also developed commercially produced motors that do not use heavy rare earth materials.
Simple Energy plans to expand its dealer-operated store network to 160-170 outlets by March 2027.
