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Indian EV startup Simple Energy plans a 2027 IPO to expand its retail network 19-fold by 2029.
Indian electric two-wheeler startup Simple Energy, founded in 2019 and based in Bengaluru, plans an IPO in fiscal 2027 targeting $350 million to fund a 19-fold expansion of its retail network by 2029, focusing on northern India.
The company, which operates 53 showrooms and holds a 5% share of India’s EV two-wheeler market, has sold 5,027 vehicles as of September 29, 2025, after overcoming early delivery issues.
To mitigate supply chain risks from China’s rare-earth export restrictions, it developed an in-house electric motor without rare-earth elements, currently exclusive but potentially shared if supply pressures persist.
The IPO proceeds will support retail growth, R&D, and marketing, with $51 million raised to date from investors.
La startup india de EV, Simple Energy, planea una OPI en 2027 para expandir su red minorista 19 veces para 2029.