Company Intelligence Profile
Simpleenergy Private Limited
Bengaluru-based electric-scooter maker (brand "Simple Energy") that designs and manufactures e-scooters (Simple One, OneS, Ultra) with ~95% domestic component sourcing.
Last updated 4 September 2026
Simpleenergy Private Limited, based in Bengaluru, designs and manufactures electric scooters under the Simple brand, including models like Simple One, OneS, and Ultra with about 95% domestic component sourcing. Founded in 2019, the company posted a net loss of ₹83 Cr in FY25 on ₹44.3 Cr total income and has raised between $61M to $85.6M in funding.
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
| Registered name | Simpleenergy Private Limited |
|---|---|
| CIN | U29309KA2019PTC127859 |
| PAN | ABCCS6231R |
| Status |
|
| Listing | Not listed (private company); company has publicly discussed IPO ambitions ahead of a ₹127 Cr raise per Inc42, but no listing has occurred. |
| Incorporated | 12 September 2019. |
| ROC | RoC-Bangalore (Karnataka) |
| Sector (NIC) | Manufacture of motor vehicles, trailers and semi-trailers — specifically electrically operated vehicles (NIC 29309) |
| Registered address | 9th Floor, Wing A, Sy.No.2/2, North Gate Phase II, Modern Asset, Venkatala Village, Yelahanka Hobli, Bengaluru, Karnataka 560064. |
| Authorized capital |
|
| Paid-up capital | ₹13.7–14.9 Lakh. |
Business Overview
- Simple Energy (legal entity: Simpleenergy Private Limited) is a Bengaluru-headquartered electric two-wheeler manufacturer founded in September 2019 by Suhas Rajkumar Kolewad, Ankit Gupta and Shreshth Mishra
- It designs, manufactures and retails electric scooters under the "Simple" brand — models include the Simple One, OneS and Ultra — claiming ~95% domestic component sourcing
- As of FY25 filings it had ~373–402 employees and operates a direct retail/store network across India, alongside two subsidiaries covering manufacturing (Simpleenergy Manufacturing Pvt Ltd, Tamil Nadu) and a separate financing/leasing-style entity (Simple Loop Pvt Ltd)
- The company has raised total funding variously reported between ~$61M and ~$85.6M predominantly from family offices and angel investors rather than marquee VC funds, and has publicly signalled IPO ambitions while continuing to post widening losses (₹83 Cr net loss in FY25 on ₹44.3 Cr total income)
Directors
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Suhas Rajkumar Kolewad | 07582545 | - | 12-Sep-2019 |
| Shreshth Mishra | 08183309 | - | 22-Nov-2019 |
| Ankit Omprakash Gupta | 01990265 | - | 2-Apr-2021 |
| Sheetal Narayan Shetty | 11292383 | - | 30-Sep-2025 |
| Balamurugan Arumugam | 11244132 | - | 30-Sep-2025 |
GST Registrations
| GSTIN | State | PAN | Status |
|---|---|---|---|
| 29ABCCS6231R1ZO | Karnataka | ABCCS6231R (source: Tofler; single source, not cross-confirmed by a second registry page — treat as partial) | Active |
| 33ABCCS6231R1ZZ | Tamil Nadu | ABCCS6231R (source: Tofler; single source, not cross-confirmed by a second registry page — treat as partial) | - |
Primary GSTIN: 29ABCCS6231R1ZO (Karnataka, Regular, Active, registered 1-Oct-2019) — confirmed directly on a KnowYourGST individual-GSTIN page. PAN linked: ABCCS6231R. A second registration, 33ABCCS6231R1ZZ (Tamil Nadu), is reported by search aggregators but not independently verified on a primary per-GSTIN page — treat as partial. Total registrations found: 2 states (Karnataka home state, plus Tamil Nadu).
Financials
Standalone/company-level figures:
- FY23: Pre-revenue; net loss ₹32 Cr
- FY24: Operating revenue ₹6.6 Cr; net loss ₹62.6 Cr
- FY25 (year ended 31-Mar-2025): Operating revenue ₹40.7 Cr; total income ₹44.3 Cr; total expenses ₹129.67 Cr; net loss ₹83 Cr (widened 32.6% YoY)
- Open charges/borrowings: ₹50.57 Cr open charges, primarily HDFC Bank (₹40.57 Cr) plus other lenders (₹10 Cr); ₹7.5 Cr charges satisfied/released.
- EBITDA and net worth: not obtained (locked/premium in sources checked).
unclear whether the loss/revenue figures are standalone-entity or consolidated (subsidiaries exist) — press reports do not specify; flagged as a gap.
Funding
Total funding reported ~$61–85M across rounds. Known rounds:
| Nov 2021 | Pre-Series A, ~$21M |
|---|---|
| Feb 2023 | Bridge round, ~$20M |
| Jul 2024 | Series A, $20M — led by family offices (Haran family office, Dr. A. Velumani/Thyrocare family office, Vasavi family office, Desai family office of Apar Industries promoter group) — source: Entrackr |
| Sep 2025 | ~₹126.7 Cr (~$10–15M, reports vary) round led by Velumani, ahead of stated IPO plans (co-founders Suhas Rajkumar and Ankit Gupta reportedly infusing ₹13.5 Cr each) — source: Inc42/press |
| Latest valuation on record | as of Jul 2024, down ~74% from a reported peak valuation of $249M in Aug 2020 — not independently confirmed elsewhere, treat as partial |
In the News
Simpleenergy Number of Employees 2026 | Employee Count & Headcount Data
Revelio Labs · 2 months ago
Headlines about Simpleenergy Private Limited reported by third-party publications. Recur Club does not author or endorse this coverage. Last checked 9/6/2026.
Source: Google News aggregated headlines
Charges & Borrowings
- Open charges ~₹50.57 Cr — primary lender HDFC Bank Ltd (~₹40.57 Cr) plus other lenders (~₹10 Cr)
- ₹7.5 Cr in charges shown as satisfied
- Falconebiz gates this data behind a paid tier so it is single-sourced — treat as partial
Competitors
- India's e-scooter market is dominated by TVS Motor (iQube — market leader in 2025/2026, ~3 lakh+ units in 7 months of 2026), Bajaj Auto (Chetak — took #1 spot in Oct 2025 with ~21% share), Ather Energy (#3, ~16.5% share, listed company), and Ola Electric (former multi-year leader, now losing share, listed company) — together these four hold ~95%+ of incremental e-2W registrations
- Simple Energy is a much smaller, sub-scale player relative to all four (single-digit-crore-to-low-double-digit-crore revenue vs. thousands of crores for the majors)
- Hero MotoCorp (Vida) is a fifth notable competitor also outscaling Simple Energy
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