Bengaluru-based electric two-wheeler startup Simple Energy has announced plans to raise around ₹3,000 crore through an Initial Public Offering (IPO) by fiscal year 2027. The company’s Founder and CEO, Suhas Rajkumar, shared that the upcoming IPO will help fuel the brand’s aggressive market expansion, investment in a new manufacturing facility, and accelerated research and development (R&D) initiatives.
Having spent seven years building its presence in the EV sector, Simple Energy now sees the time ripe to enter public markets. According to Rajkumar, the decision to plan an IPO in FY27 stems from the company’s rapid growth trajectory. The company intends to raise approximately USD 350 million (around ₹3,000 crore) by Q2 or Q3 of FY27.
The funds raised from the IPO will be strategically allocated to:
R&D development: A core priority for Simple Energy to stay competitive and technologically advanced.
Retail network expansion: The company aims to grow from its current 150 touchpoints (including 15 stores and 15 service centers) to a robust network of 500 outlets within two years.
Manufacturing capacity expansion: To support the anticipated surge in demand, the EV startup will invest in a second production facility.
Simple Energy currently operates a manufacturing unit in Hosur, Tamil Nadu, with an annual capacity of 3 lakh electric scooters. However, Rajkumar confirmed that the company plans to double this capacity post-IPO. Since the existing facility cannot accommodate this scale, the company is evaluating potential new locations for its second plant. The decision on location will depend on logistical and financial viability.
Simple Energy is accelerating its national footprint to ensure a strong revenue pipeline ahead of the IPO. The brand aims to clock:
₹800 crore (USD 96 million) in revenue by FY26
₹1,500 crore (USD 180 million) in cumulative revenue over the next 18 months
In FY25, the company registered revenue of ₹40 crore and sold over 4,000 electric scooters. Looking ahead, the EV maker has set an ambitious sales target of 55,000 units for FY26, with a cumulative sales goal of 1 lakh scooters before the IPO.
Simple Energy currently operates in high-potential EV markets, including:
Karnataka
Maharashtra
Goa
Andhra Pradesh
Telangana
Kerala
With a stronghold in these regions and further network expansion planned, the company expects to strengthen its brand visibility and product availability in both urban and semi-urban areas.
Apart from physical expansion, Simple Energy emphasizes R&D as the cornerstone of its long-term vision. The company believes that consistent innovation will be critical for staying ahead in the rapidly evolving electric mobility sector. The IPO funding will allow Simple Energy to fast-track the development of advanced EV technologies, including improvements in battery efficiency, range, and performance.