Simple Energy Raises $180 Million for Growth
Electric two-wheeler manufacturer Simple Energy has secured $180 million in a Series C funding round. The capital is intended to support the company's next phase of expansion.
Electric two-wheeler manufacturer Simple Energy has announced the successful closure of its Series C funding round, raising $180 million. The round was led by Dr. Arokiaswamy Velumani Family Office, with participation from the Haran Family Office and angel investor Amit Mishra.
The Bangalore-based startup plans to utilize the new capital to fuel its next growth phase. Funds will be allocated to key functions including marketing, supply chain development, research and development, and hiring.
This funding round represents Simple Energy's largest to date, bringing its total equity raised to $264 million. The company has previously secured funding, including a Series B round also led by Dr. Arokiaswamy Velumani Family Office.
According to founder and CEO Suhas Rajkumar, priorities include establishing a new manufacturing facility, increasing production output, expanding the distribution and service network, and developing next-generation products. Simple Energy currently offers three electric scooter models and aims to significantly grow its dealer network.