Simple Energy Raises Over $20 Million Funding The company aims at utilizing these funds in a phased manner to ramp up production of its much-awaited premium and affordable electric scooter, the Simple ONE
By Teena Jose •
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Simple Energy, an electric vehicle and clean energy startup, has raised over $20 million in the ongoing Bridge round. The round witnessed participation from Dr Arokiaswamy Velumani (founder, of Thyrocare Technologies Limited), Ashwin Hinduja (Gokaldas Group), Sanjay & Sandeep Wadhawa (Owner of Nash Industries), Sripriya Kalyanasundaram, (chief strategy and evangelist to CEO's office), Lambda Test, Purple Moon Ventures along with existing investors like Manish Bharti and Vasavi Green Tech. The company aims at utilizing these funds in a phased manner to ramp up production of its much-awaited premium and affordable electric scooter, the Simple ONE.
"With the propagation of EVs catching up on a massive scale in India, we believe 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. The funds raised will be strategically used to aid the production ramp-up and for a quicker delivery commencement. 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," said Suhas Rajkumar, founder and CEO, Simple Energy.
The Bangalore-based electric vehicle (EV) and clean energy startup, founded in 2019, aims to redefine electric mobility in the country by making e-mobility solutions more accessible, accessible, secure, and comfortable to the end customer.
"Simple Energy is one of the few startup which has all the ingredients to be a market leader: founders with diverse expertise; customer-first approach; benchmarking of the product by category; understanding of customer needs; and a clear vision of products to be introduced in the market over the next 36 months. I am convinced that Simple Energy will bring a paradigm shift in how the Indian consumer views technologically advanced EV two-wheelers and will be a world-class brand that people of Indian origin everywhere will be proud of," said Dr Arokiaswamy Velumani, founder of Thyrocare Technologies Limited.
