PE-VC Fund Investments
EV startup Simple Energy raises $10-M led by Thyrocare founder’s family office
Bengaluru-based electric two-wheeler startup Simple Energy has raised USD 10 Mn (about INR 88 Cr) in a bridge round led by the family office of Thyrocare founder Dr Arokiaswamy Velumani. The round also saw participation from Balamurugan Arumugam and Haran Family Office.Founded in 2019 by Suhas Rajkumar, Simple is engaged in the design and manufacture of electric two-wheelers. It has a presence across Karnataka, Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Maharashtra, Rajasthan, Delhi, and Uttar Pradesh via 53 dealer-operated stores.The new funds will be used to open more stores in existing and new markets. The company aims to expand its store count to 100 by this December and 150 by March 2026, with around 90% of the stores in South India. For Q1 FY26, the company reported a revenue of INR 27 Cr.
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