Simple Energy

About Simple Energy

Simple Energy, a Bengaluru-based electric vehicle manufacturer, was founded in 2019 by Suhas Rajkumar, Shreshth Mishra, and Ankit Gupta. The company's inception was driven by a conversation CEO Suhas Rajkumar had with his father, who expressed a lack of trust in electric vehicles for long-distance travel, sparking Rajkumar's mission to build a long-range, reliable electric scooter made in India. Rajkumar, a graduate in Architecture from Siddaganga Institute of Technology, leverages his design background and prior experience with a robotics startup to spearhead the company's focus on in-house research and development.

The company operates in the competitive Indian electric two-wheeler market, directly competing with brands like Ola Electric and Ather Energy. Simple Energy's business model is direct-to-consumer (B2C), focusing on the sale of its electric scooters. Revenue is generated through vehicle sales, with the company aiming to achieve significant growth by expanding its dealership and service network across India. To date, Simple Energy has secured $75.5M in funding over 11 rounds from a mix of institutional and angel investors, which has supported the establishment of its manufacturing capabilities and R&D efforts. The company has announced plans for an Initial Public Offering (IPO) by the 2027 fiscal year.

Simple Energy's product line includes the flagship 'Simple One' and the 'Simple Dot One' electric scooters. The Simple One boasts a range of 212 km, a top speed of 105 kmph, and 30 litres of storage. The company also offered an optional additional battery pack to extend the range to over 300 km. The Simple Dot One provides a range of 151 km, accelerates from 0 to 40 kmph in 2.55 seconds, and features a larger 35-litre storage capacity. A key differentiator is the company's commitment to vertical integration, with claims of manufacturing over 95% of its components in-house, including the motor and battery, at its factory in Shoolagiri, Tamil Nadu. This facility, established with an investment of ₹100 crore, has a production capacity of up to 1 million units annually. Despite facing initial production and delivery delays due to supply chain issues and changing battery safety regulations, the company has commenced deliveries and is expanding its retail footprint.