Simple Energy Raises $10 Million! Plans 150 Stores, 200 Service Centers to Challenge Ola & Ather in EV Race

Bengaluru-based EV startup Simple Energy has raised $10 million in bridge funding to fuel aggressive retail expansion, with plans to open 150 new showrooms and 200 service centers across India in 2025. The move positions the brand to compete head-on with Ola Electric, Ather Energy, and TVS in the fast-growing electric two-wheeler market.

$10 Million Bridge Round Fuels Expansion

Simple Energy announced on September 25, 2025, that it had secured $10 million in all-equity bridge funding. The round was led by Dr. A. Velumani, founder of Thyrocare’s Family Office, along with existing investors Balamurugan Arumugam and the Haran family office.

The company plans to channel 80% of the funds into retail expansion, dealer network building, and service infrastructure, while the remaining will go toward R&D and new product development.

Currently operating 53 showrooms across Bengaluru, Goa, Pune, Vijayawada, Hyderabad, Vizag, and Kochi, Simple Energy now aims to quadruple its reach in 2025.

Manufacturing & Product Strategy

• Factory: Hosur, Tamil Nadu, with 150,000 units annual capacity

• Vertical Integration: Complete in-house powertrain development

• First in India: To offer an 8-year motor warranty

• Sustainability Edge: Recently began commercial production of heavy rare-earth-free motors

Key Models:

• Simple One Gen 1.5 – Launched Feb 2025, 248 km IDC range

• Simple OneS – Launched Mar 2025, 181 km IDC range

Both scooters boast India’s longest ranges in their category, directly competing with Ola S1 Pro Gen 3 and Ather Rizta.

Strategic Growth & Investor Confidence

Founder & CEO Suhas Rajkumar said:

“This investment will fuel our next phase of growth, making electric mobility more accessible across India. With our expanded network, we are confident of scaling in both established and emerging markets.”

Dr. A. Velumani added that Simple Energy’s battery and motor tech, coupled with frugal yet disciplined execution, gives him confidence that the brand could be among the Top 3 EV players in India by 2030.

So far, $51 million has been raised. Looking ahead, the company plans an IPO in FY 2027, aiming to raise $350 million for manufacturing and market expansion.

EVINDIA Analysis: What This Means for the EV Market

• Festive Season Push: With Ola and Ather focusing heavily on festive discounts, Simple Energy’s retail expansion could capture untapped Tier-2 and Tier-3 demand.

• Competitive Differentiation: India’s longest-range scooters give Simple a unique USP at a time when range anxiety remains a key barrier.

• Retail Advantage: Expanding to 150 stores + 200 service centers could help Simple match the omni-channel presence of Ola Electric, which still struggles with after-sales support.

• IPO Vision: Targeting $350M IPO in FY’27 signals strong intent to scale aggressively and challenge incumbents.