Two-year-Old Bengaluru-based EV startup company Simple energy aims to accelerate the adoption of electric vehicles by making them more accessible, affordable, and secure, they launched their flagship scooter called Simple one in August. The EV startup has raised about $21 Million as a part of an equity funding round.
The round saw participation from current investors and board members, Manish Bharti of UiPath; and Raghunath Subramanian, non-executive chairman, UiPath India, respectively. Several high net worth Individuals and also new investors such as Sattva Group, Athiyas Group also invested as a part of the round. The Sum of funds raised will be productively accounted for the utilization to boost manufacturing capacity, accelerate new product development, and expand the experience center, for its further expansion plans.
The company had earlier set out to raise $15 million as part of the current rise. Electric vehicles are here to stay, and Simple Energy is leading its way in revolutionizing the automobile industry in the country…The pre-series round will not only help us broaden our product offerings but it will also speed up the production process,” said Suhas Rajkumar, founder and chief executive officer (CEO), Simple Energy.
Simple Energy will create a mass impact on many positive aspects stated as mass mobility, Overall conservation of ecosystem, and clean environment. Simple Energy will undoubtedly lead the automobile industry to support the EV push to sustainable mobility