In the most recent round of funding, EV startup Simple Energy raised more than $20 million (about Rs. 165 crore).
The money will be used to increase the production of the company’s future electric scooter, as per reported by Business Standard.
“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,” said Suhas Rajkumar, founder and CEO of Simple Energy.
Simple Energy is an R&D-focused firm that was established in 2019 with the goal of creating an electric and connected future for transportation.
About Simple Energy
The development of Simple Energy is being sped up by efforts aimed at making it more readily available, reasonably priced, secure, and comfortable.