New Delhi, Sept. 30 -- Simple Energy, an electric two-wheeler maker, has raised Rs 1,750 crore (around $180 million) in its Series C round, four months after closing its Series B round in June.
The equity round was led by the family office of Thyrocare Technologies founder Arokiaswamy Velumani, an existing investor in the company, along with Simple Energy founder Suhas Rajkumar and co-founder Ankit Gupta.
Amit Mishra, a Bengaluru-based high-net-worth investor, and the Haran Family Office, a Bengaluru-based privately managed investment platform that manages multigenerational family capital, also participated in the round.
Simple Energy will use the capital to set up a new manufacturing facility, ramp up production, hire employees, expand its network, and fund R&D for its next product cycle, it said in a statement.
"This is a defining moment for Simple Energy. Over the past few years, we have built our core technology, products, manufacturing capabilities, and retail network in-house," said CEO Suhas Rajkumar. "This round gives us the capital to scale that foundation. Our priorities are a new manufacturing facility, higher production, an expanded distribution and service network, and the next generation of products."
Founded in 2019 by Rajkumar and Shreshth Mishra, with Gupta joining later, Simple Energy develops electric two-wheelers with a focus on localisation. It builds smart, high-performance electric two-wheelers for Indian consumers and claims its vehicles offer the longest driving range in the country.
Its manufacturing facility in Hosur, Tamil Nadu, has an annual production capacity of 10,000 units a month.
"I have been with Simple Energy since the early days, and I now repent I didn't know it earlier. Growth of 4x in a year says both the company and industry are growing rapidly," said A Velumani, creator of Thyrocare, AVMLabs and AVMSmiles.
"The next phase will focus on scaling in manufacturing, marketing, and retail networks. With tailwinds of global challenges in fossil energy, Simple is well positioned to be in the top three players of the EV2W vertical in India in just three years," Velumani added.
Simple Energy has raised Rs 2,530 crore so far. It last secured Rs 250 crore ($26.3 million then) through a mix of equity and debt in June. The round comprised Rs 123 crore in debt financing from HDFC Bank, Capitar Ventures and other non-banking lenders, alongside Rs 127 crore in equity led by Velumani's family office.
About a year ago, in September 2025, it raised $10 million (Rs 88.6 crore then) in an all-equity round led by Velumani's family office. Existing investors, including Balamurugan Arumugam and the Haran Family Office, also participated in that round.
The company operates more than 80 outlets across 60 cities, including Bengaluru, Delhi, Patna and Chennai. It competes with established players such as TVS Motor, Bajaj Auto, Ola Electric and Ather Energy.
Earlier, in July 2024, the company secured $20 million to scale up production. Prior to that, it raised $20 million in a bridge round in early 2023 from investors including Velumani, Ashwin Hinduja of Gokaldas Group, Nash Industries owners Sanjay and Sandeep Wadhawa, and Purple Moon Ventures.
In 2021, Simple Energy raised $21 million in equity funding from Manish Bharti of UiPath and Raghunath Subramanian, non-executive chairman of UiPath India.
Published by HT Digital Content Services with permission from VC Circle.