Simple Energy, an electric vehicle manufacturer, has announced a strategic partnership with e-commerce giants Amazon India and Flipkart to sell its electric scooters online. This move aims to enhance the accessibility of Simple Energy's products and tap into the growing online market for electric vehicles.

Key Highlights of the Partnership

• Online Availability: Simple Energy's electric scooters, including the Simple One Gen 1.5 and Simple OneS models, will now be available for purchase on both Amazon India and Flipkart platforms.
• Doorstep Delivery: Customers can enjoy the convenience of doorstep delivery for their purchased electric scooters.
• Festive Discounts: Both e-commerce platforms are offering attractive discounts during their respective festive sales.

Discount Details

Product Specifications

Expansion Plans

Simple Energy is not just focusing on online sales but also expanding its offline presence:

• Current Status: 57 showrooms in operation
• Future Plans:
  • 150 new stores by FY26
  • 200 service centres by FY26

This partnership with leading e-commerce platforms marks a significant step for Simple Energy in expanding its market reach. By offering online sales and doorstep delivery, the company is adapting to changing consumer preferences and leveraging digital platforms to boost its sales and visibility in the competitive electric vehicle market.

The move also aligns with the growing trend of online vehicle purchases, especially in the electric vehicle segment, where consumers are increasingly comfortable making big-ticket purchases online. The festive season discounts further sweeten the deal for potential buyers, potentially driving up sales during this period.

As the electric vehicle market in India continues to grow, such strategic partnerships between EV manufacturers and e-commerce platforms could become more common, offering consumers greater choice and convenience in their vehicle purchasing journey.

Bengaluru-based electric two-wheeler manufacturer Simple Energy has successfully raised $10 million in an all-equity bridge funding round, marking a significant step in its growth strategy. The funding, led by existing investor Dr. Arokiaswamy Velumani, founder of Thyrocare's Family Office, also saw participation from investors Balamurugan Arumugam and the Haran family office.

Allocation of Funds

The company has outlined a clear plan for utilizing the newly acquired capital:

• 80% of the funds will be directed towards expanding Simple Energy's network of stores and service centers across India.
• The remaining 20% will support marketing initiatives and research and development efforts.

Company Background

Founded in 2019 by Suhas Rajkumar, Shreshth Mishra, and Ankit Gupta, Simple Energy has quickly established itself in the electric two-wheeler market. The company operates a manufacturing facility in Hosur, Tamil Nadu, with an annual production capacity of 150,000 vehicles.

Product Portfolio

Simple Energy has recently expanded its product line:

• The company launched Gen 1.5 of its Simple One model, featuring a 248 km IDC range.
• The Simple OneS was introduced, offering a 181 km IDC range.

Current Operations and Expansion Plans

Simple Energy currently maintains a presence in seven cities with 53 showrooms. The company has set ambitious expansion targets:

• Aim to increase the number of stores to 150.
• Plans to establish 200 service centers.

Funding History and Future Plans

This latest funding round brings Simple Energy's total raised capital to $51 million. Looking ahead, the company has its sights set on going public:

• Simple Energy is planning an Initial Public Offering (IPO).
• The IPO is expected to target $350 million, with funds earmarked for manufacturing expansion and growth initiatives.

This recent funding round and the company's ambitious expansion plans underscore Simple Energy's commitment to strengthening its position in India's growing electric vehicle market. As the company continues to innovate and expand its reach, it will be interesting to watch how it navigates the competitive landscape of the electric two-wheeler sector in the lead-up to its planned IPO.