Suhas Rajkumar is looking to generate revenue of $96 million (₹800 crore) by FY26, with plans to hit a total of $180 million (₹1,500 crore) in the coming 18 months. As in FY25, the company Simple Energy has achieved a revenue of ₹40 crore from operations.
Simple Energy is planning to raise funds for about ₹3,000 crore around $350 million, by FY27, with the aim of utilizing the funds to expand its business from about 150 stores to around 500 stores. As well as they will also use some funds to expand their manufacturing capacity to meet the growing demand. As of now, their manufacturing plant, which is situated in Hosur, Tamil Nadu, can generate around 3 lakh units a year, which they plan to double the capacity after the IPO launch.
Simple Energy, incorporated in 2019, is renowned for designing high-end electric scooters named Simple ONE and Simple OneS. With the selling of around 4,000 scooters in FY25, the CEO, Suhas Rajkumar’s goal is to sell about 55,000 scooters in FY26.
Prior to the launch of the IPO, Simple Energy hopes to sell 1 lakh electric vehicles, with its presence expanding in key states, including Maharashtra, Goa, Andhra Pradesh, Telangana, and Kerala.
