Highlights
- Simple Energy targets IPO in the second half of FY28.
- Company raises ₹250 crore in Series B funding.
- Revenue target of over ₹3,000 crore by FY30.
- Monthly sales expected to increase from 1,500 units to 10,000 units by March 2027.
- Manufacturing capacity expansion and battery line upgrade underway.
- Brand currently operates through 71+ outlets across 38 cities.
- Expansion planned in Ranchi, Bhubaneswar, Cuttack and other cities.
Bengaluru: Electric two-wheeler manufacturer Simple Energy has announced plans to launch its Initial Public Offering (IPO) in the second half of FY28 while targeting annual revenue of more than ₹3,000 crore by FY30.
The company has also secured ₹250 crore in a Series B funding round comprising a mix of debt and equity. The funding round was led by the family office of entrepreneur Arokiaswamy Velumani, along with participation from the company’s founders and financial institutions.
Founder and CEO Suhas Rajkumar said the company’s public listing plans were slightly delayed due to prevailing market conditions, but management remains confident about entering the capital market once supply chain stability improves.
₹250 Crore Funding to Drive Expansion
The newly raised capital will primarily be used to expand manufacturing capacity, strengthen production infrastructure, and accelerate nationwide expansion. A portion of the funds will also support research and development, marketing initiatives, and customer experience improvements.
The company is investing heavily in its battery manufacturing capabilities, with additional capacity expected to come online by August 2026.
Revenue Growth and Sales Targets
Simple Energy has reported strong business momentum, with revenues rising from approximately ₹40 crore in April 2025 to ₹170 crore in April 2026.
Currently selling around 1,500 electric scooters per month, the company aims to scale monthly sales to 10,000 units by March 2027 through capacity expansion and wider market penetration.
Manufacturing and Market Expansion
The EV maker currently has a manufacturing capacity of 3,000 units per month and plans to significantly increase output over the coming months.
Simple Energy operates more than 71 retail outlets across 38 cities, including Bengaluru, Delhi, Chennai, and Patna. The company is also preparing to enter new markets such as Ranchi, Bhubaneswar, and Cuttack as part of its pan-India growth strategy.
Industry Outlook
Despite challenges such as rising input costs, raw material shortages, and supply chain disruptions linked to geopolitical tensions in West Asia, the company remains optimistic about long-term growth prospects.
With fresh funding, expanding production capabilities, and a roadmap toward public markets, Simple Energy is positioning itself as one of India’s emerging electric mobility players in the rapidly growing EV sector.
