Simple Energy, a Bengaluru-based electric two-wheeler maker, has raised 2.5 billion rupees (US$26.2 million) through a mix of debt and equity to expand production, product development, and its retail network.

The round was led by the family office of Thyrocare Technologies founder Arokiaswamy Velumani, with participation from Simple Energy’s founders.

HDFC Bank, Capitar Ventures, and other non-banking financial companies provided 1.2 billion rupees (US$12.9 million) in debt.

Founder Suhas Rajkumar said Simple Energy plans to increase monthly scooter production from 3,000 to 10,000 by January and 15,000 by March next year.

The company also plans to expand from about 80 stores to 200-250 outlets by next March.

Simple Energy sells the Simple One and Simple OneS scooters, which start at 189,999 rupees (US$2,000) and 164,999 rupees (US$1,700) respectively.

The company said it sells about 2,000 scooters a month and reported FY26 operating revenue of about 150 rupees (US$1.6)-160 crore, up from roughly 400 million rupees (US$4.2 million) a year earlier.

VAHAN data showed that Simple Energy registered 1,744 two-wheelers in March 2026, up more than 128% from February, and ranked ninth in India that month.

India’s PM E-DRIVE scheme for eligible electric two-wheelers has been extended until July 31, 2026.

🔗 Source: The Economic Times

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