Simple Energy raises Rs 1,750 crore in Series C funding

Electric two-wheeler maker Simple Energy has raised Rs 1,750 crore ($180 to 182 million) in its largest funding round, an all-equity Series C. The round was led by the family office of Dr Arokiaswamy Velumani, founder of Thyrocare Technologies, with participation from founder and CEO Suhas Rajkumar, co-founder and CFO Ankit Gupta, Bengaluru-based HNI Amit Mishra, and the Haran Family Office, multiple outlets report. inc42 and The Economic Times value the round at $180 million, Entrackr reports $182 million.

The company plans to use the capital for a new manufacturing facility, expanding production from 10,000 to 25,000 units per month within a year, and growing its retail network from over 80 outlets across 60-plus cities to about 150 outlets by March 2027, per CEO Rajkumar. The Economic Times and Entrackr note that Simple Energy sold 8,908 electric two-wheelers in FY26, up from 1,959 in FY25, per Vahan data. Revenue rose to about Rs 170 crore in FY26 from roughly Rs 40 crore in FY25 (The Economic Times). Businessline adds that co-founder Shreshth Mishra cited rising input costs as a challenge and said the company is working towards profitability.

Update, 3 October 2026: CNBC-TV18 now also reports the fundraise, adding that Simple Energy targets a 10 to 12% share of the family scooter market over 24 months. It says the company has invested nearly Rs 200 crore in developing the Simple Wave, priced at Rs 1,09,999. The total capital raised is confirmed at over Rs 2,530 crore.