Bangalore-based startup Simple Energy has announced that the company has raised over Rs. 165 crore n in the ongoing Bridge round. According to the company, the accumulated funds will be utilised in a phased manner to ramp up production of its first electric scooter, the Simple One. Bookings for the electric scooter began way back in August 2021, and the company has received upto 1 lakh bookings till date. Deliveries are yet to begin for the same.
The Bridge round witnessed participation of investors from across the country. The prominent investors who participated in this round were; Arokiaswamy Velumani, Founder, of Thyrocare Technologies, Ashwin Hinduja of 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 & Vasavi Green Tech.
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 company has inaugurated its new brand-new facility in Shoolagiri, Tamil Nadu with an initial Rs. 100 crore investment. With more products in the pipeline and its core focus on R&D, Simple Energy aims to be at the forefront of the ongoing global transition to green mobility.
