Simple Energy bags ₹126.7 cr top-up from Iheart, founders ahead of $350 mn IPO
Bengaluru EV maker raises ₹126.7 cr — ₹18.6 cr from Iheart Properties, ₹13.5 cr each from founders — to fund pre-IPO scale-up. Targets EBITDA positivity by FY26-end and a $350 mn listing in Q2-Q3 FY27. Current capacity 5,000 units/month, expandable to 15,000; FY25 revenue ₹44.3 cr.
What happened
Bengaluru EV maker Simple Energy raised ₹126.7 crore from existing investor Iheart Properties and founders ahead of a planned $350 million IPO in Q2-Q3 FY27,
Key facts
- ₹126.7 crore raise
- ₹18.6 crore from Iheart Properties
- ₹13.5 crore each from founders
- $350 million IPO target
- FY25 revenue ₹44.3 crore
- 5,000 units/month current capacity
- 15,000 units/month potential
- founders hold 35%
Why this matters
Founder co-investment of ₹27 cr alongside Iheart Properties signals insider conviction and locks in 35% control ahead of listing, narrowing strategic partnership windows for incumbents.