Electric two-wheeler startup Simple Energy has announced a successful Series A funding round, securing $20 million. This funding round included contributions from both existing and new investors.
The company plans to use the newly acquired capital to enhance its production capabilities, enter new markets, and develop additional products.
Suhas Rajkumar, Founder and CEO of Simple Energy, expressed gratitude for the strong support from their initial customers in Bengaluru and the trust shown by their investors. He noted that the funds will be strategically utilized to increase production and expand their dealership network across the country.
Simple Energy currently offers two models: Simple One and Simple Dot One. The company is in the pilot phase in Bengaluru, where it has started deliveries. Additionally, Simple Energy is gearing up to launch dealership stores in several cities, including Bengaluru, Mysore, Chennai, Vijayawada, Goa, Vizag, Kochi, Mumbai, Pune, Ahmedabad, Surat, Delhi, and Hyderabad in the near future.
