Bengaluru-based electric two-wheeler manufacturer Simple Energy has closed its Series B funding round, securing INR 2.5 billion through a combination of debt and equity.

The funding round was led by the family office of Dr. Arokiaswamy Velumani, alongside Simple Energy’s Founder and CEO, Suhas Rajkumar, and Co-founder and CFO, Ankit Gupta. Financial institutions HDFC Bank and Capitar Ventures, along with other non-banking financial companies (NBFCs), served as debt partners, contributing INR 1.23 billion to the total capital raised.

The EV maker will direct the majority of the Series B proceeds toward manufacturing expansion and scaling up production capacity. The remaining capital is earmarked for sales, marketing and research and development (R&D) to advance its product roadmap and customer experience.

At present, Simple Energy operates at a manufacturing capacity of 3,000 units per month. The company has recently increased investment in its proprietary battery assembly lines, with the output ramp-up scheduled to take effect from August 2026.

To support its next growth phase, the company plans to increase its workforce across key departments, including production, sales and marketing.

The funding coincides with significant top-line growth for the electric vehicle (EV) startup. Simple Energy's annual revenue increased fourfold, rising from INR 400 million in FY2025 to INR 1.70 billion in FY2026.

The brand currently averages monthly sales of approximately 1,500 units. Its retail network comprises more than 71 outlets operating across 38 cities, including Bengaluru, Delhi, Patna and Chennai. As part of its immediate domestic expansion strategy, Simple Energy will shortly enter new markets, including Ranchi, Bhubaneshwar and Cuttack.

Simple Energy has set a target to achieve monthly sales of 10,000 electric scooters by March 2027.

Suhas Rajkumar, said, “The funding reflects strong investor confidence in Simple Energy. This will help us scale production, strengthen our Made-in-India manufacturing stack, and expand access to our long-range, performance-led scooters nationwide. We are seeing clear market demand, with revenues rising 4x from INR 400 million in FY’25 to INR 1.70 billion in FY’26. The funding amounts will be mainly directed towards capacity expansion, targeting monthly sales of 10,000 scooters by March 2027, alongside continued investments in R&D and marketing. This milestone marks Simple Energy’s transition from a homegrown startup to a full-stack EV OEM, reinforcing brand trust and readiness for a long-term path to public markets.”

Comments (0)

ADD COMMENT

Link Copied!

Delhivery and Bajaj Auto have signed an agreement to deploy electric three-wheelers across Delhivery's last-mile delivery network. The partnership begins with the deployment of 200 Bajaj RIKI eCarts (model C4005) in the first phase, with a second phase planned for 2026–2027 that aims to reach a total of approximately 1,500 electric vehicles.

The initiative aims to improve operational efficiency in both metropolitan areas and Tier-2 and Tier-3 cities. The Bajaj RIKI eCart (C4005) offers a claimed range of over 100 km per charge. The vehicle features an electric powertrain and a two-speed automatic transmission. Delhivery plans to pair the vehicles with its automated route optimisation software to increase drop-offs per trip and reduce operating costs per kilometre. The EVs are designed with ergonomic seating to protect riders from weather conditions and reduce physical fatigue.

Prashant Gazipur, Chief Operating Officer, In-City Operations at Delhivery, said, "Our collaboration with Bajaj Auto addresses the economic well-being of our delivery partners while advancing both our environmental goals and those of our clients. By combining our intelligent routing systems with highly efficient cargo EVs, we are creating a more profitable model for our riders and offering our clients a cleaner, lower-carbon supply chain."

Samardeep Subandh, President, Intra-City Business, Bajaj Auto, added, "This partnership with Delhivery has the potential of transforming last-mile cargo transport, with Delhivery’s scale and technology and Bajaj Auto’s expertise in 3-wheeler electric mobility. The Bajaj Riki C4005 offers 100+ kms of range on a single charge, excellent reliability and durability along with better comfort and ergonomics for drivers."

The deployment is part of Delhivery’s broader strategy to reduce its Scope 3 greenhouse gas emissions and meet its environmental, social and governance (ESG) targets.

Comments (0)

ADD COMMENT

Link Copied!

Ultraviolette Automotive has opened its new UV Space Station in Aizawl, Mizoram, marking the company’s entry into Northeast India. The centre, established in partnership with MSS Motors, provides sales, service, test rides and accessories for the F77 and X-47 Crossover electric motorcycles.

At present, the EV maker’s ‘Kill the Petrol Bill’ campaign valid until 30 June 2026, will see customers purchasing an F77 or X-47 receive cashback based on the kilometres covered on their previous two-wheeler over the past two years.

The benefit is calculated at INR 1 per kilometre, with a maximum value of INR 30,000. Buyers must visit a space station for verification of their previous vehicle registration and odometer reading to claim the incentive.

Narayan Subramaniam, CEO and Co-Founder, Ultraviolette Automotive, said, "The Northeast is home to one of India's most passionate riding communities, with a strong culture of motorcycling and adventure. We have seen growing interest for Ultraviolette from customers across the region, making Aizawl a natural choice for our first experience centre in Northeast India."

Comments (0)

ADD COMMENT

Link Copied!

Switch Mobility, a manufacturer of electric buses and light commercial vehicles and part of the Hinduja Group, showcased an international variant of its Switch EiV12 electric bus at the Best of Bharat & Mauritius Expo. The event took place from 17 June to 21 June 2026.

The EV maker has an operational presence in Mauritius, having completed the delivery of 100 electric buses to the Government of Mauritius earlier this year. These vehicles have been deployed by the National Transport Corporation (NTC).

The EiV12 displayed at the expo, operated by Triolet Bus Service, uses a Permanent Magnet Synchronous AC Motor with a peak output of 235 kW, paired with LFP battery chemistry. Supports DC Fast Charging via a CCS-2 interface with dual-gun capability. The e-bus is built on a 12-metre modular platform featuring 48 seats, front and rear air suspension, and a floor-mounted battery configuration. It offers a range of up to 300 km.

The e-bus comes with Switch iON, a platform for remote diagnostics, vehicle health monitoring, predictive maintenance and fleet performance optimisation. It is equipped with a Fire Detection and Suppression System (FDSS).

Comments (0)

ADD COMMENT

Link Copied!

Vietnamese automaker VinFast India has signed a Memorandum of Understanding (MoU) with Shriram Finance (SFL) to improve consumer access to electric vehicle (EV) financing solutions. The partnership aims to accelerate EV adoption by leveraging Shriram Finance's extensive branch network and expertise in vehicle financing.

The partnership will see Shriram Finance provide up to 100 percent on-road funding on VinFast vehicles, with competitive interest rates and flexible repayment options. The facility will be available across urban, rural, and semi-urban markets via Shriram Finance’s network of over 3,000 branches.

Tapan Ghosh, CEO, VinFast India, said, “India’s transition to electric mobility will be shaped not just by strong products, but by the strength of the ecosystem that supports them. Our partnership with Shriram Finance reflects VinFast’s continued focus on removing barriers to EV adoption by improving financing accessibility and enabling a smoother ownership experience for our customers across markets.”

Nandagopal R., President & National Business Head, Shriram Green Finance, said, “We are pleased to collaborate with VinFast through this strategic MOU, which marks an important step towards strengthening sustainable mobility solutions in India. This association reflects our shared vision to accelerate EV adoption and support the development of a stronger green mobility ecosystem across the country.”

This partnership follows VinFast's recent entry into the electric MPV segment with the launch of the VF MPV 7. In addition to financing, VinFast is focusing on other initiatives to support EV ownership, including assured resale and structured buyback programmes.

Comments (0)

ADD COMMENT

Link Copied!