Bengaluru-based electric vehicle startup Simple Energy has raised $10 million in a bridge funding round. The investment will help the company expand its retail presence and service network across India. The goal is to make electric mobility more accessible to customers while strengthening Simple Energy’s position in the growing EV market. This funding comes at a time when electric scooters are gaining popularity among urban commuters looking for sustainable and cost-effective transport solutions.
Scaling Nationwide Presence
Simple Energy plans to use most of the $10 million to grow its retail and service infrastructure. Around 80% of the funds will go toward opening new stores, building dealerships, and enhancing after-sales services. The remaining capital will support research and development, enabling the company to continue improving its scooter models and technology. The startup aims to provide a seamless customer experience, from purchasing an electric scooter to getting timely maintenance and service. By investing in infrastructure and technology, Simple Energy hopes to build long-term trust with its customers and create a strong nationwide presence.
Making E-Scooters Accessible
Currently, Simple Energy operates 53 stores across India. With the fresh funding, the company plans to increase this number to 100 by December 2025 and further expand to 150 stores by March 2026. This rapid expansion will allow more people in smaller cities and towns to access Simple Energy’s electric scooters. Alongside increasing the number of stores, the company is also focusing on improving customer support, offering convenient service options, and training its dealer network to provide better assistance. The expansion strategy is designed to make electric scooters more visible and attainable for first-time buyers, ensuring a smoother transition to electric mobility for Indian commuters.
Temporary Dip, Long-Term Growth
In the first quarter of FY26, Simple Energy reported a revenue of ₹27 crore, compared to ₹40 crore in the entire FY25. While the numbers show a temporary dip, the company remains optimistic about its future growth. The slight decline is attributed to seasonal factors and supply chain adjustments. Despite these challenges, Simple Energy continues to focus on building a sustainable business model, with careful investments in technology, production, and customer support. The company believes that its long-term growth trajectory will be driven by the increasing demand for electric scooters and its expanding network of stores and service centers.
Looking Ahead
Simple Energy is preparing for an Initial Public Offering in FY27, targeting to raise around ₹350 crore. The funds from the IPO will be allocated to further expansion, research and development, and strengthening the company’s competitive position in the Indian EV market. With a commitment to innovation, sustainability, and customer satisfaction, Simple Energy aims to play a significant role in India’s transition to electric mobility. By building a reliable and accessible retail and service network, the startup is positioning itself as a trusted brand for urban commuters seeking eco-friendly transportation solutions.
Simple Energy’s journey reflects the growing confidence in electric vehicles across India. With this new funding and ambitious expansion plans, the company is set to reach more customers and accelerate the adoption of electric scooters nationwide.