Simple Energy, a Bengaluru-based EV start-up, has raised an undisclosed amount from the angel investors Vel Kanniappan, Vice President-Global Business, and Finance operations at UiPath, and four other investors who participated in this round of funding. The start-up is also looking to raise USD 8 -10 million in series A funding in the second quarter of this year. It will be launching its very first electric scooter in the month of May 2021 in Bengaluru and Delhi, followed by a formal launch in Chennai, Mumbai, and Hyderabad.
Specifications for the Mark 2 electric scooter revealed by Simple Energy include a 4.8 kWh battery which promises a 240-km range in Eco mode. The top speed is claimed at 100 km/h and 0-50 km/h sprint time of 3.6 seconds. The scooter has a mid-drive motor along with a portable battery and boasts smart features like a touchscreen instrument screen with navigation on the go, Bluetooth connectivity, etc.
“Closing the pre-series round has given the year a great start. We’re glad to have investors like Mr. Vel and the other four investors believe in the idea of Simple Energy. This pre-series has come in at the right time as we are launching the product Mark-2 in the mid of 2021. We look forward to a long term association with them,” Suhas Rajkumar, Founder, Simple Energy, said.
As announced in November 2020, Simple Energy’s prototype Mark 1 achieved an ARAI approved range of more than 230 km with a 4-kilowatt hour battery pack that has been developed in-house by Simple Energy.