When Simple Energy started in Bengaluru in 2019, the goal was to build smart and affordable electric two wheelers in India. Not just for the wealthy, but for everyone. The founders wanted scooters that could run long, handle Indian roads, and cost less. Now, six years later, the startup is ready for its biggest step. It plans to go public and list shares.
The first product was the Simple One electric scooter. People liked it because it could travel over 200 km on one charge. The scooter was not just popular in big cities like Bengaluru and Chennai, but in small towns as well. Simple Energy opened a factory in Tamil Nadu to meet the demand.
With focus on price, range, and EV technology in India, the company quickly became a strong name. It competes with Ola Electric, Ather Energy, Bajaj, and TVS. Simple Energy already has more than 1 lakh pre-orders. This is helping the company build trust before its IPO.
Angel investors and venture funds gave early support. In Series A, the startup raised $20 million. Later, more funding came to expand research and build a network of charging points. Investors see the growth of sustainable mobility solutions in India. The government also supports EVs with the FAME scheme and subsidies.
This gives Simple Energy a strong base. The IPO plan will bring more money to expand into motorcycles and delivery vehicles.The IPO may happen by 2026. The money raised will go into building more units, developing export models, and pushing battery technology for electric scooters.
Simple Energy is not only making scooters. It is building the full EV setup. It launched Simple Loop, a charging network. The company plans 30,000 fast-charging stations across India. The team is also working on in-house battery packs. Today, India depends on imported batteries.
In the future, Simple Energy wants to use new options like solid-state batteries. This will make electric vehicles in India safer and more powerful. The company is also opening more experience stores. By 2027, it plans to open 200 centers for buyers. The goal is to connect product, charging, and service into one ecosystem.
India is the world’s largest two-wheeler market. Over 15 million two wheelers are sold every year. Even a small share means big revenue. Reports show EV startups in India can help build a $100 billion market by 2030. Simple Energy is aiming at $1 billion revenue by 2029. Right now, it makes around 50,000 scooters each year. After IPO funding, it plans to make 500,000 scooters in three years. By 2029, capacity will touch 1 million units per year.
The scooters will not only be for urban riders. There will also be versions for delivery agents and commuters.
The company has over 600 staff and supports thousands more in the supply chain. Its work is tied to India’s push for renewable energy in transportation. This adds to its global image as a climate tech leader. The rise of Simple Energy shows how much India’s EV market has grown. What started as small garage startups is now a multi-billion-dollar sector. Many of these companies are IPO-ready.
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