[Funding News] Simple Energy Secures $20 Mn in Series A Funding Round

Simple Energy, a renewable energy and electric vehicle startup, has secured $20 million in its Series A funding round. The round was attended by high-net-worth individuals (HNIs) from family offices.

The company will utilize the funds to increase the production of Simple Energy's two primary products, Simple One and Simple Dot One. Furthermore, the funds will facilitate the development of new products, expand the company's presence throughout India, and support its entry into new markets.

In a bridge round, Simple Energy secured $20 million. November 2021 was the previous month in which it had secured $21 million in pre-Series investment.

Read also - Cars24 Secures Rs 250 Cr Funding Round From Global Car Group

Simple Energy asserts that it produces 95% of its scooter components in-house. Simple One and Simple Dot, its two signature products, have a range of 212 and 151 kilometers, respectively. Simple Energy is currently in the pilot phase in Bengaluru and has commenced deliveries in the city.

In the upcoming weeks, Simple Energy is preparing to establish dealership stores in Bengaluru, Mysuru, Chennai, Vijayawada, Goa, Vizag, Kochi, Mumbai, Pune, Ahmedabad, Surat, Delhi, and Hyderabad.

About Simple Energy

Founded in 2019 by Suhas Rajkumar, At Simple Energy, is passionate about the #FutureOfMobility powered by indigenous engineering and design.

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