Paolo Simoncelli established the team with the explicit goal of promoting the careers of promising young Italian motorcycle racers, carrying on the spirit of his son's memory through competition. The formation was supported by Fausto Gresini, who had been Marco Simoncelli's team boss in MotoGP at the time of his fatal accident. The number 58 worn on the team's motorcycles is a permanent tribute to the elder Simoncelli's wishes that his son's legacy live on in the sport.
The team initially competed in the FIM CIV Moto3 Junior Championship in Italy. Paolo Simoncelli concluded that the Spanish FIM CEV Repsol Moto3 Junior World Championship offered a more competitive and better-organised environment for his riders' development, and the team began competing in that series in 2015. The strategy bore fruit quickly: Italian rider Tony Arbolino won a race at the 2016 CEV round in Jerez, the team's first international success.
SIC58 has also fielded riders in the European Talent Cup, a support series run alongside the FIM CEV Repsol events.
In 2017, SIC58 entered the Moto3 World Championship full-time. Tony Arbolino and Tatsuki Suzuki were the team's riders. The opening seasons proved difficult: Arbolino managed only a single points finish in his debut year, while Suzuki's seven retirements in 2017 limited him to 71 points and 14th in the championship despite a best individual finish of fourth. Niccolò Antonelli replaced Arbolino for 2018, with both Suzuki and Antonelli each collecting 71 points that year and finishing 14th and 15th respectively.
The 2019 season marked SIC58's breakthrough at world level. At the fourth round in Jerez — the same circuit where Marco Simoncelli had scored his maiden World Championship victory in the former 125cc class — Antonelli and Suzuki delivered a 1-2 finish for the team. The coincidence of venue prompted an emotional celebration from the entire Simoncelli family and team. Suzuki followed up with a second victory at the San Marino Grand Prix later in the season. Despite multiple injuries limiting Antonelli's campaign and eight retirements affecting Suzuki, SIC58 finished second in the Moto3 teams' championship — the strongest result in the team's history at that point.
The team was also granted a slot in the inaugural 2019 MotoE World Cup, securing one third-place podium finish at the San Marino round.
SIC58 Squadra Corse occupies a distinctive position in the Moto3 paddock as a team with both a competitive programme and an overtly memorial purpose. Its identity is inseparable from Marco Simoncelli's story: the number 58, the team colours, and the family involvement serve as a continuous reminder of one of MotoGP's most charismatic figures of the early 2010s. The team has remained active in the Moto3 World Championship, continuing to develop young riders in the tradition its founder envisioned.