.png)
Total amount raised
$71.9M
Latest funding date
2025-09-25
Location
Simple Energy has successfully raised funding over 7 rounds, with the latest being a Convertible Note round. The company is backed by 18 investors, including notable names like Balamurugan Arumugam and Haran Family Office.
Simple Energy offers high-performance electric scooters, such as the Simple One and Simple OneS, designed with advanced engineering and intuitive technology. Keep reading to explore the intricacies of Simple Energy's fundraising journey and the investors backing this innovative platform.
What Is Simple Energy?
Simple Energy, founded in 2019, is based in Bengaluru, India. The company specializes in manufacturing high-performance electric scooters, including the Simple One and Simple OneS, designed for urban commuting and ambitious riders.
Operating in the electric vehicle, last mile transportation, manufacturing, and transportation industries, Simple Energy employs between 251 and 500 people. The company emphasizes advanced technology and precision engineering in its products, reflecting a design philosophy of clarity, craft, and confidence.
How Much Funding Has Simple Energy Raised?
- Convertible Note
- Amount Raised: USD 67,000
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial operations and product development.
- Angel
- Amount Raised: USD 837,000
- Date: January 2021
- Lead Investors: Not publicly disclosed; Vel Kanniappan noted as participant
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and scaling efforts.
- Angel
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Raghunath Subramanian
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and scaling efforts.
- Pre-Series (Equity)
- Amount Raised: USD 21,000,000
- Date: November 2021
- Lead Investors: Manish Bharti (UiPath), Raghunath Subramanian (UiPath India)
- Participants: Sattva Group, Athiyas Group, and other HNIs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate production scale-up and expand the dealership network; round was oversubscribed (original target was USD 15,000,000).
- Convertible Note
- Amount Raised: USD 20,000,000
- Date: February 2023
- Lead Investors: Not publicly disclosed; Purple Ventures noted as participant
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and growth.
- Series A
- Amount Raised: USD 20,000,000
- Date: July 29, 2024
- Lead Investors: Not publicly disclosed; participation from Haran Family Office, Dr. A Velumani Family Office, Vasavi Family Office, Desai Family Office (promoter group of Apar Industries), and Balamurugan Arumugam
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production, expand national footprint, enter new markets, and facilitate new product development.
- Convertible Note (Bridge Round)
- Amount Raised: USD 10,000,000
- Date: September 25, 2025
- Lead Investors: Dr. A Velumani Family Office (Dr. Arokiaswamy Velumani, founder of Thyrocare)
- Participants: Balamurugan Arumugam, Haran Family Office
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand retail and service network (approximately 100 stores by end of 2025), strengthen R&D, and scale long-range electric two-wheelers.
Total Amount Raised: At least USD 71,904,000 based on disclosed funding. Current Valuation: Not publicly disclosed.
Key Investors
- Dr. A Velumani Family Office
- Details: The family office of Dr. Arokiaswamy Velumani, founder of Thyrocare Technologies. Lead investor in the September 2025 bridge (convertible note) round and participant in the Series A round. A recurring investor in Simple Energy.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- Balamurugan Arumugam
- Details: Angel investor and Chief Growth Officer at Klarity. Participated in the Series A (July 2024) and the September 2025 bridge convertible note round. Listed by Crunchbase as lead investor for the Series A.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- Haran Family Office
- Details: A private family office that participated in the Series A (July 2024) and the September 2025 bridge round.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- Vasavi Family Office
- Details: A private family office that participated in Simple Energy's Series A funding round in July 2024.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
- Desai Family Office
- Details: The promoter group of Apar Industries. Participated in Simple Energy's Series A funding round in July 2024.
- Investment Focus Areas: Not explicitly mentioned.
- Notable Investments: Not explicitly mentioned.
What's Next for Simple Energy?
Simple Energy is poised for significant growth, with opportunities to scale up production of their flagship scooters, Simple One and Simple Dot One, and expand their market presence across India. The company aims to achieve a top line of ₹150 crore this fiscal year, indicating a substantial market opportunity.
Future fundraising opportunities seem promising, given the company's ambitious growth plans and previous successful funding rounds. Additional capital could support further expansion, new product development, and entry into new markets.
However, challenges such as scaling production to meet demand, establishing a robust dealership network, and competing with established players in the EV market remain. Navigating these hurdles will be crucial for Simple Energy's continued success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Simple Energy and gather other critical business insights. Sign up for free and unlock the potential to drive your sales efforts with precise and actionable information.
