Simple Energy has announced that the One electric scooter has received more than 1 lakh bookings in the country. The company has also received funding of over $20Mn in the ongoing Bridge round which will be utilized in a phased manner to ramp up production of Simple One e-scooter. This investment is expected to lower down the gap between demand and supply for Simple One.
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Mr. Suhas Rajkumar, Founder & CEO, of Simple Energy, said, “With the propagation of EVs catching up on a massive scale in India, we believe in being a key participant in this eco-system. We have received a phenomenal pre-booking response and to cater to the demand, we are raising funds in a timely manner. We are ever grateful to all the investors for placing their faith in our brand. The funds raised will be strategically used to aid the production ramp-up and for a quicker delivery commencement.”
The Bridge round witnessed the participation of investors from across the country. The prominent investors who participated in this round were; Dr Arokiaswamy Velumani, Founder, of Thyrocare Technologies Limited, Mr Ashwin Hinduja of Gokaldas Group, Mr Sanjay & Sandeep Wadhawa, Owner, of Nash Industries, Ms Sripriya Kalyanasundaram, Chief Strategy and Evangelist to CEO’s office, Lambda Test, Purple Moon Ventures along with existing investors like Manish Bharti & Vasavi Green Tech.
Simple Energy recently inaugurated a new brand-new facility in Shoolagiri, Tamil Nadu with an initial investment of Rs 100 crore. The company has more products in the pipeline and hence, it is focusing more on R&D presently.
“I would like to thank our customers who have believed in our brand and have patiently waited for the deliveries. We have successfully de-bottlenecked product constraints and are confident that we will soon start deliveries of India’s finest and premium 2-Wheeler EV – the Simple ONE,” added Rajkumar.
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