Simple Energy raises ₹1,750 crore Series C led by Velumani office
Kalpana Maurya
1 Oct 2026 · 3 min read
Electric scooter maker Simple Energy has closed a ₹1,750 crore Series C led by the family office of Thyrocare founder Dr Arokiaswamy Velumani. It is the company's largest raise so far and takes its total funding past ₹2,530 crore, money it will put into production, retail and a new plant.
Bengaluru-based electric two-wheeler maker Simple Energy announced on 30 September 2026 that it has raised ₹1,750 crore (about $180 million) in a Series C equity round. The round was led by the family office of Dr Arokiaswamy Velumani, the founder of Thyrocare, and also included founder and CEO Suhas Rajkumar, co-founder and CFO Ankit Gupta, Bengaluru-based HNI Amit Mishra and the Haran Family Office.
The cheque is the largest in the company's history. It arrives roughly three months after a ₹250 crore infusion in June, and lifts Simple Energy's cumulative fundraising to more than ₹2,530 crore (around $264 million, according to Inc42). PTI, as carried by The Hindu BusinessLine, reported the company describing it as the third-largest raise by an Indian electric two-wheeler maker.
What the money is for
Simple Energy said most of the capital will go into three areas: widening its retail and service footprint, raising output at its existing plant, and building a new manufacturing facility. The remainder is earmarked for hiring across key functions and for research and development on the next product cycle.
Co-founder Shreshth Mishra told YourStory that the company will expand on its existing Krishnagiri campus rather than buy new land, ramping up production over the next 10 to 24 months. He also said the money will help fix working-capital cycles and clear delivery backlogs that had frustrated customers in earlier years. Speaking to BusinessLine, Mishra said rising prices of metal and other components remain a challenge, and that the company is working on sourcing and engineering changes to absorb them. He added that Simple Energy is working towards profitability.
On distribution, the company plans to push into Tier II and Tier III markets in northern, central and eastern India, pairing each new outlet with a service centre, YourStory reported. Inc42 said the company aims to grow its dealer-operated network to 160 to 170 outlets by March 2027.
"Our priorities are a new manufacturing facility, higher production, an expanded distribution and service network, and the next generation of products," Rajkumar said.
About Simple Energy
Suhas Rajkumar founded Simple Energy in 2019; Shreshth Mishra and Ankit Gupta later joined as co-founders. The company develops much of its vehicle in-house, including the chassis, battery pack, motor and software. Mishra told YourStory it was the first Indian OEM to commercially deploy motors free of heavy rare-earth elements, with close to 15,000 such units on the road.
Its sales are driven mainly by the Simple One and the Simple Wave, a family scooter priced from ₹1.10 lakh ex-showroom. Over the past eight months it has launched the Simple Wave and the performance-focused Simple Ultra. The company says its production capacity is 10,000 units a month and that monthly sales have grown more than fourfold year on year. It runs more than 80 outlets across over 60 cities, including Bengaluru, Delhi, Hyderabad, Chennai and Patna.
Inc42 reported that monthly sales in August were 1,508 units, down 9.5% from 1,666 in July, and that the founder put FY26 revenue at about ₹171 crore, compared with roughly ₹44 crore in FY25.
Key facts
- Company: Simple Energy (Bengaluru)
- Founders: Suhas Rajkumar (founder and CEO), Shreshth Mishra (co-founder), Ankit Gupta (co-founder and CFO)
- Round: Series C (equity)
- Amount: ₹1,750 crore (about $180 million)
- Lead investor: Dr Arokiaswamy Velumani Family Office
- Other investors: Suhas Rajkumar, Ankit Gupta, Amit Mishra (HNI), Haran Family Office
- Total raised to date: over ₹2,530 crore
- Announced: 30 September 2026
Frequently asked questions
How much did Simple Energy raise in its Series C?
₹1,750 crore, which Inc42 put at about $180 million. It is the company's largest round to date.
Who led Simple Energy's Series C?
The family office of Dr Arokiaswamy Velumani, founder of Thyrocare, led the round, with the company's founders, HNI Amit Mishra and the Haran Family Office participating.
Who founded Simple Energy?
Suhas Rajkumar founded the company in 2019. Shreshth Mishra and Ankit Gupta joined later as co-founders.
How will Simple Energy use the funds?
Mainly to expand its retail and service network, increase production at its existing plant and set up a new manufacturing facility, with the rest going to hiring and R&D.
How much has Simple Energy raised in total?
More than ₹2,530 crore, including this round.
