Simple Energy Raises $182 Million Series C to Scale EV Scooter Manufacturing

Simple Energy has raised Rs 1,750 crore, or $182 million, in a Series C funding round. The company says this is its largest fundraise to date and the third-largest funding by an Indian electric two-wheeler OEM.

The round was led by the family office of Dr Arokiaswamy Velumani, founder of Thyrocare Technologies, along with founder and CEO Suhas Rajkumar and co-founder and CFO Ankit Gupta. Bengaluru-based HNI Amit Mishra and the Haran Family Office also participated.

The fresh capital is earmarked for a new manufacturing facility, higher production capacity, wider distribution and service coverage, talent hiring and R&D for the next product cycle. The company also plans to deploy funds toward marketing and supply chain operations.

The full round was raised through equity. With this fundraise, Simple Energy’s total capital raised has crossed Rs 2,530 crore, or $263 million.

Simple Energy currently has a production capacity of 10,000 units per month and operates more than 80 outlets across over 60 cities. Its scooter portfolio includes Simple One, Simple Wave and Simple Ultra.

The company said monthly sales have grown more than fourfold over the past year. It launched Simple Wave and Simple Ultra in the past eight months for the family and performance scooter segments.

Simple Energy reported operating revenue of around Rs 150-160 crore in FY26, compared with about Rs 40 crore in FY25. The company currently derives most of its sales from southern states.

Before this Series C, Simple Energy raised Rs 250 crore through a mix of debt and equity in June 2026, after a $10 million all-equity bridge fundraise in September 2025. Its earlier rounds included $20 million in Series A funding in July 2024, more than $20 million in a bridge round in February 2023 and $21 million in pre-Series A funding in November 2021.

Simple Energy was founded in 2019 by Suhas Rajkumar and Shreshth Mishra, and later brought Ankit Gupta on board as a co-founder. The company develops electric two-wheelers and key components including chassis, battery, motor and software in-house.

The next checkpoints are execution-led: how quickly the new facility comes online, whether distribution and service expansion broadens demand beyond southern states, and how the next product cycle strengthens its scooter portfolio.