Simple Energy raises ₹127 Cr ahead of $350 Mn FY27 IPO, plans 500-store retail push
Bengaluru-based E2W maker Simple Energy is closing a ₹126.7 Cr round led by Thyrocare's Velumani, taking total funding to $84 Mn. Capital fuels R&D and a 7x retail expansion from 70 to 500 offline stores. FY25 revenue grew 6x to ₹40.7 Cr, though net loss stood at ₹83 Cr. April dispatches hit 1,244 units.
What happened
IPO-bound E2W maker Simple Energy is raising ₹126.7 Cr led by Thyrocare's Velumani, ahead of a $350 Mn IPO targeted in FY27. Funds back R&D and expansion to 500
Key facts
- ₹126.7 Cr raise
- $13.2 Mn
- 2.11 Lakh CCPS at ₹6,000
- $84 Mn total funding
- $350 Mn IPO target FY27
- 500 offline stores planned
- 70 current retail outlets
- 4,806 scooters sold to date
- 1,244 units April 2026
- 1,775 units March
- FY25 revenue ₹40.7 Cr (6X)
- FY25 net loss ₹83 Cr
Why this matters
This bridge round signals consolidation pressure in the E2W mid-tier; Simple's offline-heavy bet creates partnership openings for dealer networks, battery-swap players, and retail-format incumbents seeking EV adjacency.