Simple Energy, an electric two-wheeler manufacturer based in Bengaluru, raised $180 million (₹1,750 crore) in its Series C funding round, according to inc42.com. The round was led by Dr. Arokiaswamy Velumani Family Office, with participation from the Haran Family Office and angel investor Amit Mishra. The startup plans to use the capital to support growth in marketing, supply chain, research and development, and hiring.
The Series C round closed three months after Simple Energy secured ₹250 crore in its Series B funding, also led by Dr. Velumani's family office. Founder and CEO Suhas Rajkumar, along with cofounder and CFO Ankit Gupta, participated in the equity round. Rajkumar said the funds will prioritize a new manufacturing facility, increased production capacity, and an expanded distribution and service network.
Founded in 2019, Simple Energy currently sells three electric scooters: Simple One, Simple OneS, and Simple Ultra. The company recently launched the Simple Wave to expand beyond its high-performance Simple One model. With this latest funding, Simple Energy's total equity raised now stands at $264 million (₹2,530 crore), positioning it as one of India's leading full-stack electric two-wheeler companies.
The fresh capital injection aims to accelerate the startup's next growth phase, focusing on product development and market expansion. CEO Suhas Rajkumar emphasized the continued support from early investors as a reinforcement of the company’s progress in the electric vehicle sector.