Bengaluru-based electric vehicle and clean energy startup, Simple Energy, has successfully raised $20 million in its Series A funding round.
The round saw substantial participation from high-net-worth individuals (HNIs) associated with prominent family offices, including those of the Haran family, Dr. A Velumani, the Vasavi family, and the Desai family—promoters of Apar Industries, among others.
According to a press release from Simple Energy, the newly acquired funds will be pivotal in scaling up the production of the company’s flagship products, Simple One and Simple Dot One. These funds will also enable the company to penetrate new markets, enhance its footprint across India, and foster the development of new products.
Simple Energy, founded in 2019 by Suhas Rajkumar, Ankit Gupta, and Shreshth Mishra, prides itself on manufacturing 95% of its scooter components in-house. The company’s key offerings, Simple One and Simple Dot One, boast impressive ranges of 212 kilometers and 151 kilometers, respectively.
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Currently in a pilot phase in Bengaluru, Simple Energy has commenced deliveries in the city and is gearing up to launch dealership stores in several major cities, including Mysuru, Chennai, Vijayawada, Goa, Vizag, Kochi, Mumbai, Pune, Ahmedabad, Surat, Delhi, and Hyderabad in the coming weeks.
