Simple Energy Fund Raising
Simple Energy, a Bengaluru-based electric two-wheeler start-up, has recently raised over ₹ ₹ 165 crores ($20 million) in its latest round of funding. The funding, raised in an ongoing bridge round, will be utilized to ramp up production of the company’s highly anticipated Simple One electric scooter. With over one lakh bookings already received, the fresh investment will help the company expedite its production and begin deliveries at a faster pace.
The latest funding round saw participation from a number of prominent investors, including Dr. Arokiaswamy Velumani, Founder of Thyrocare Technologies Limited, Ashwin Hinduja of Gokaldas Group, Sanjay and Sandeep Wadhawa of Nash Industries, Sripriya Kalyanasundaram, Chief Strategy and Evangelist to CEO’s office, Lambda Test, Purple Moon Ventures, and existing investors like Manish Bharti and Vasavi Green Tech.
Simple One Delivery
This funding will help Simple energy in making quick delivery of the Simple electric scooter that was getting delayed for quite some time now. The combined force of money and the new production facility will work for Simple’s benefit.
In addition to its technological advancements, Simple Energy is also dedicated to creating local employment opportunities. The company aims to provide jobs for 700+ people and is striving to have a female-dominated workforce, raising the bar for gender diversity in the industry.
The company’s state-of-the-art manufacturing plant, Simple Vision 1.0, was recently inaugurated in Shoolagiri, Tamil Nadu. Spread across 200,000 sqft, the facility is equipped with a range of cutting-edge technology, including India’s first patented in-house motor manufacturing line, a battery manufacturing line, and a comprehensive testing facility for its vehicles. With a commitment to safety, the factory is set to become one of the safest manufacturing plants in the country.
Simple Energy’s latest funding round and its modern manufacturing facility are a testament to the company’s commitment to bringing innovative, sustainable solutions to the Indian market. With over one lakh bookings for its upcoming electric scooter, Simple Energy is poised for success and poised to change the face of the Indian electric vehicle market.
Read More:- Simple Energy has Started Production of Simple One Electric Scooter