Simple Energy has announced that it has raised $20 million in the ongoing Bridge round. It will use these funds in a phased manner to ramp up production of its Simple ONE e2W.
The Bridge round saw investors participate from across the country, a list including Dr Arokiaswamy Velumani, Founder, Thyrocare Technologies; Ashwin Hinduja, Gokaldas Group, Sanjay and Sandeep Wadhawa, Owner, Nash Industries, Sripriya Kalyanasundaram, Chief Strategy and Evangelist to CEO’s office, Lambda Test, Purple Moon Ventures along with existing investors like Manish Bharti and Vasavi Green Tech.
Suhas Rajkumar, Founder and CEO, Simple Energy, said that with EVs growing on a massive scale in India, the company believes in being a key participant in this ecosystem. It has received a 'phenomenal' prebooking response of over one lakh and to cater to the demand, 'we are raising funds in a timely manner'.
“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,” he added.
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