Simple Energy, an automotive company said it had raised $10 million in an all-equity funding round. The round was led by existing investor Dr. Arokiaswamy Velumani, Founder of Thyrocare’s Family Office, in participation with fellow existing investors – Balamurugan Arumugam and the Haran family office, the firm said.
The funds will aid the firm’s network expansion across India and marketing initiatives. A percentage of the amount will also be directed towards R&D, it added.
The company’s manufacturing facility in Hosur, Tamil Nadu, delivers an annual production capacity of 1,50,000 vehicles. Most recently, it became the first Indian OEM to commercially produce heavy rare-earth-free motors – cementing its leadership in electric mobility.
Suhas Rajkumar, CEO and Founder, “This investment will bolster our next phase of growth. It will help in making electric mobility more accessible to customers across India.”
“Nearly 80% of the capital will be directed towards expanding our retail presence and building a robust dealer and service network. The rest of the funds will be employed towards R&D,” he said.
“With this influx, we are confident in scaling into both established and emerging markets – delivering India’s longest-range electric two-wheelers that meet the needs of Indian riders,” he added.
Published – September 26, 2025 09:05 pm IST