Mumbai: Electric two-wheeler manufacturer Simple Energy has raised Rs 1,750 crore in a Series C equity funding round to expand manufacturing, strengthen its sales network and develop new products.
Announced on Wednesday, the investment marks the company's largest fundraising round and brings its total funding to Rs 2,530 crore. Simple Energy said it ranks as the third-largest fundraise among electric two-wheeler manufacturers.
Velumani Family Office Leads Funding
The round was led by the Velumani Family Office alongside Founder and CEO Suhas Rajkumar and Co-founder and CFO Ankit Gupta. Bengaluru-based high-net-worth investor Amit Mishra and the Haran Family Office also participated.
Simple Energy is backed by billionaire entrepreneur and Thyrocare founder Arokiaswamy Velumani. The latest investment follows a Rs 250 crore infusion in June from existing investors through a combination of debt and equity.
New Factory And Network Expansion
Most of the fresh capital will support a new manufacturing facility, increased output at the existing plant and expansion of retail and service networks.
The remaining funds will go towards recruitment across key functions and research and development for the next product cycle.
Rajkumar said the company had developed its technology, products, manufacturing capabilities and retail network internally. The funding would help scale these operations, with higher production and next-generation products among its priorities.
Electric Scooter Production And Sales
Simple Energy currently has production capacity of 10,000 units per month. It ranks among India's top 10 electric two-wheeler manufacturers by monthly sales, with Simple One and Simple Wave driving demand within its four-model portfolio.
The company operates more than 80 outlets across over 60 cities, including Bengaluru, Delhi, Patna, Hyderabad and Chennai.
Velumani highlighted its ownership of chassis, battery, motor and software technology. He said the next phase would focus on manufacturing, marketing and retail expansion, expressing confidence that Simple Energy could enter India's top three electric two-wheeler players within three years.
The funding supports its manufacturing, distribution and product development ambitions.
