Bengaluru-based Simple Energy is making waves in the electric vehicle (EV) sector with a significant Rs 250 crore funding round aimed at ramping up production of its electric scooters. This investment, led by prominent stakeholders including the family office of Arokiaswamy Velumani, signals strong investor confidence in the company's future. With this capital, Simple Energy plans to increase its production capacity from 3,000 to 10,000 units per month by March 2027, a move that could position it as a formidable player in India's burgeoning EV market.
The company has reported a staggering fourfold increase in revenue, from Rs 40 crore in FY25 to Rs 170 crore in FY26, reflecting a robust market demand for its long-range, performance-oriented scooters. This funding will not only bolster manufacturing capabilities but also enhance R&D and marketing efforts, ensuring that Simple Energy stays competitive as it expands its footprint across India.
Currently, Simple Energy operates in 38 cities and plans to penetrate more markets, including Ranchi and Bhubaneshwar. The strategic focus on scaling production and improving customer experience is crucial as the Indian EV landscape becomes increasingly crowded with both domestic and international players.
