Simple Energy, a Bangalore-based startup, has announced that it has raised more than Rs. 165 crores in the current Bridge round. The company claims that it will gradually use the accumulated funds to ramp up production of the Simple One, its first electric scooter. The electric scooter has already received up to 1 lakh reservations since bookings first opened in August 2021. Deliveries for the same have yet to start.
Investors from all over the nation took part in the Bridge round. Arokiaswamy Velumani, the founder of Thyrocare Technologies, Ashwin Hinduja of the Gokaldas Group, Sanjay & Sandeep Wadhawa, the owners of Nash Industries, Sripriya Kalyanasundaram, the chief strategy and evangelist to the CEO’s office, Lambda Test, Purple Moon Ventures, as well as existing investors Manish Bharti & Vasavi Green Tech, were among the notable investors who took part in this
Suhas Rajkumar, Founder & CEO, of Simple Energy, said that with the propagation of EVs catching up on a massive scale in India, the brand believes in being a key participant in this eco-system. “We have received a phenomenal pre-booking response and to cater to the demand, we are raising funds in a timely manner. I would like to thank our customers who have believed in our brand and have patiently waited for the deliveries. We have successfully de-bottlenecked product constraints and are confident that we will soon start deliveries of India’s finest and premium 2-Wheeler EV – the Simple One.”
The business opened a brand-new facility in Shoolagiri, Tamil Nadu, with an initial investment of Rs. 100 crore. Simple Energy aims to lead the ongoing global transition to green mobility with more products in the works and a primary focus on R&D.
