Simple Energy will use the fresh capital to expand retail and service networks across India, boost marketing initiatives, and allocate part of the funds to research and development.
Simple Energy offers India's longest-range electric scooter, the Simple One (248 km/charge), featuring smart tech, in-house manufacturing, and nationwide reach, aiming to transform EV adoption and mobility.
The proceeds will be used to set up a large-scale manufacturing facility to cater to pan-India demand, further aligning with the Government of India's vision of EVs constituting 30% of new vehicle sales by 2030.
With new funding, Bengaluru-based Simple Energy plans to scale production of its Simple One and Simple Dot One scooters, expand into new Indian markets, and support further product development.
As per Suhas Rajkumar, founder of Simple Energy, the company is aiming to shift the entire fleet of mobility to electric thus making the world greener and sustainable