Private Equity

Angel Investments

E-scooter maker Simple Energy to raise Rs.127-Cr led by Thyrocare founder

Inc42  

Bengaluru-based electric two-wheeler maker Simple Energy is raising INR 127 crore in a funding round led by existing backer Arokiaswamy Velumani, the founder of Thyrocare, with participation from a group of angel investors. Additionally, the company’s co-founders, Suhas Rajkumar and Ankit Gupta, are contributing INR 13.5 crore each to the round.Founded in 2019 by Suhas Rajkumar, Shreshth Mishra, and Ankit Gupta, Simple Energy manufactures electric two-wheelers branded Simple One, Simple OneS, and Simple Ultra. The startup claims to operate a network of about 70 retail outlets across India.The company plans to use the new capital to support its business growth and expansion initiatives.This fundraising comes as the startup prepares for an initial public offering, with plans to raise nearly INR 3,000 crore by the second or third quarter of FY27. Simple Energy’s total funding to date has crossed USD 84 million, with past support from investors including the Haran Family Office, the Desai Family Office backed by Apar Industries and the Vasavi Family Office.

For FY25, Simple Energy had reported about INR 41 Cr in Operating Income and about INR 83 Cr in Net Loss.