Turning Series B funding into faster growth, EV maker Simple Energy is expanding production, retail reach and sales ambitions.
Electric vehicle (EV) manufacturer Simple Energy has completed its Series B funding round, raising ₹2.5 billion through a combination of debt and equity to support production expansion, manufacturing upgrades and business growth.
The Bengaluru-based company said the funding round included participation from Arokiaswamy Velumani, alongside founder and chief executive Suhas Rajkumar and co-founder and chief financial officer Ankit Gupta.
According to the company, ₹1.23 billion of the total funding was raised through debt financing supported by HDFC Bank, Capitar Ventures and other non-banking financial institutions. The latest raise completes the Series B round, following the company’s earlier securing of ₹1.267 billion from founders and existing investors.
Simple Energy plans to allocate the majority of the newly raised capital towards increasing production capacity and strengthening manufacturing operations. The remaining funds will be invested in sales, marketing, research and development (R&D) initiatives aimed at enhancing its product portfolio and customer experience.
Speaking on the company’s plans, Rajkumar said around 70 per cent of the funds would be directed towards working capital requirements and production expansion, while the balance would support market development and related activities.
The company is targeting monthly sales of approximately 10,000 electric scooters by March 2027. It also expects manufacturing capacity utilisation to rise to between 75 and 80 per cent by the end of the next financial year, compared with about 35 per cent at present.
Simple Energy currently has the capacity to produce around 3,000 units per month. The company has recently invested in expanding its battery assembly operations, with the impact of those investments expected to become visible from August 2026.
The company is also planning a significant retail expansion, aiming to increase its footprint from around 80 stores currently to about 150 outlets and 200 service centres during the year.
Simple Energy reported revenue of ₹170 crore in FY26, compared with approximately ₹44 crore in FY25, reflecting substantial growth in its operations.
