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.
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“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.
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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.