Bengaluru-based electric two-wheeler manufacturer Simple Energy raised $10 million in an all-equity bridge funding round on September 25, 2025, led by existing investor Dr. Arokiaswamy Velumani, Founder of Thyrocare’s Family Office, to expand its retail network across India and fund marketing initiatives.
The funding round included participation from existing investors Balamurugan Arumugam and the Haran family office. Simple Energy operates 53 showrooms across cities including Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Vizag, and Kochi.
The company plans to allocate nearly 80% of the capital toward expanding retail presence and building dealer and service networks, with the remainder directed toward research and development. Simple Energy aims to open 150 new stores and 200 service centers across India in 2025.
Founded in 2019 by Suhas Rajkumar and co-founded by Shreshth Mishra, with Ankit Gupta joining as co-founder later, Simple Energy manufactures electric two-wheelers with full vertical integration of powertrains. The company operates a manufacturing facility in Hosur, Tamil Nadu, with an annual production capacity of 150,000 vehicles.
Simple Energy became the first Indian OEM to offer an 8-year motor warranty and recently achieved commercial production of heavy rare-earth-free motors. The company launched Gen 1.5 of Simple One with 248 km IDC range in February 2025, followed by Simple OneS with 181 km IDC range in March 2025.
“This investment will bolster our next phase of growth. It will help in making electric mobility more accessible to customers across India. Nearly 80% of the capital will be directed towards expanding our retail presence and building a robust dealer and service network. The rest of the funds will be employed towards R&D. With this influx, we are confident in scaling into both established and emerging markets — delivering India’s longest-range electric two-wheelers that meet the needs of Indian riders,” said Suhas Rajkumar, CEO and Founder.
Dr. A. Velumani, Creator of Thyrocare, said, “Simple Energy’s unique strengths are indigenously made with 1. Best Battery system and 2. Excellent motor Quality. Their focus and frugality with disciplined execution gives me confidence in its future. With localized operations, sharp operational & R&D focus, and a clear strategy for scaling, the company is well-positioned to be in top 3 players in EV 2W market in India by 2030.”
Balamurugan Arumugam stated, “It is inspiring to see Simple Energy turn its ambitious vision into consistent growth and meaningful impact. Its focus on R&D and high-range electric two-wheelers, strategic market expansion, and strengthening customer engagement reflects the brand’s potential for lasting impact. We are excited to continue supporting their journey as they shape the future of two-wheeler mobility in the country.”
Simple Energy has raised $51 million to date from investors. The company plans an IPO in FY’27 with a target of raising $350 million for manufacturing expansion and growth initiatives.