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Simple Energy In Talks To Raise $100 Million In Series A Funding

Simple Energy In Talks To Raise $100 Million

Simple Energy is in talks to raise $100 million said the company as its additional fundraising plans as it is in Series A funds. The company is bold in its expansion plans and has raised a total of $15 million ahead of the launch of the Simple One electric scooter on August 15, 2021. Now, as it is in talks to raise $100 million in Series A funding, Simple Energy aims to promote its post-launch plans . Simple Energy is to use the funds to increase its presence in India along with the installation of the second phase of the plant in Hosur, Tamilnadu, and to invest in research and development.

Suhas Rajkumar, founder and CEO of Simple Energy, said: “Simple Energy aims to revolutionize the automotive industry. We are glad to have received such an overwhelming response for the brand. It also gives us the right direction in terms of moving the company forward. We hope to start production as soon as possible.”

The Series A funding is expected to be closed later by this year, the company is in talks with global names for this round. Top investors from the pre-chain round included current investors Manish Bharti and Raghunath Subramanian, to name a few. Simple Energy’s eyes are like a unicorn, the rating will go up after Series A closes.

Simple Energy has launched its flagship electric scooter, the Simple One electric scooter with open pre-bookings priced at Rs.1,947 on its official website. The company is also working in the first phase of its factory, with a production capacity of one million units per year.

Read More: Best Electric Scooters In India 2021

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