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Simple Energy Plans 19× Retail Expansion Ahead of IPO Move
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EV startup Simple Energy readies IPO, targets 19× retail growth by 2029 with proprietary tech.
Electric two-wheeler maker Simple Energy is mapping out a 19-fold retail expansion by 2029 as it readies for a public offering. The Bengaluru firm currently runs 53 outlets and expects aggressive growth to position itself among India's leading EV players. Unique to its strategy is an in-house motor design that bypasses reliance on rare-earth metals, which the company may license in volatile supply conditions. The IPO, expected to come in fiscal 2027, aims to raise $350 million to fund growth, R&D, and branding.