Simple Energy | ₹1,750 Cr / ~$182M (Series C)

Founders: Suhas Rajkumar, Shreshth Mishra

Founded: 2019

HQ: Bengaluru

Sector: Electric Vehicles / Two-Wheelers

What they do

→ Builds electric scooters with in-house chassis, batteries, motors, and software

→ Current lineup: Simple One, Simple Wave, Simple Ultra, covering mass, family, and performance segments

→ Installed capacity of 10,000 units/month, though actual output is closer to ~3,000/month

→ Operates 80+ outlets across 60+ Indian cities

The Funding

→ Raised ₹1,750 Cr (~$182M) in Series C - its largest round to date

→ Led by the family office of Dr.Arokiaswamy Velumani (Thyrocare founder), contributing ~80% of the round

→ Joined by founder/CEO Suhas Rajkumar, co-founder/CFO Ankit Gupta, HNI Amit Mishra, and Haran Family Office

→ Entirely equity-funded; takes total capital raised to ₹2,530 Cr (~$263M)

Why it matters

→ Monthly sales reportedly grew 4x+ over the past year; FY26 revenue jumped to ₹150–160 Cr from ~₹40 Cr in FY25

→ Explicitly targeting an IPO by FY2028, with no further private funding rounds planned before that

→ Plans to expand dealer-operated stores to 160–170 outlets by March 2027

→ A diagnostics billionaire's capital, not typical VC money, betting big on India's EV two-wheeler race

Can Simple Energy actually close the gap between installed capacity and real output before its 2028 IPO?