Clean energy and Electric vehicle startup Simple Energy announced that, they have lifted $20 million in its Series A funding to scale up local production.

The current funding round attracted investment from existing stakeholders, including high-net-worth individuals (HNIs) from Haran family office, Dr. A Velumani’s family office, Vasavi family office, and the Desai Family office (the promoter group of Apar Industries), among others.

The Founder & CEO of Simple Energy Suhas Rajkumar,said, “As the adoption of electric vehicles accelerates significantly in India, we are committed to playing a pivotal role in this burgeoning ecosystem. The enthusiastic reception from our initial customer base in Bangalore has been truly remarkable, and we extend our heartfelt appreciation to all our investors for their trust in our brand. The capital raised will be tactically deployed to bolster our production capacity and expand our dealership network nationwide.”

He also added that the funds raised will strategically be used to enhance our manufacturing capabilities and grow our network of dealerships across the country. The startup is eyeing on to achieve a top-line of Rs. 150 crore this fiscal.

The startup was founded in 2019,the company operates a motor production facility at its 200,000 square foot plant situated in Shoolagiri, Tamil Nadu.
The funds will also aid the company's expansion into new markets, increase its presence throughout India, and support the development of new products. In line with its ambitious growth strategy, Simple Energy targets a top line of Rs.150 crore for this fiscal year.

The Simple One, a long-range electric scooter,/b>, distinguishes itself from competitors by producing 95% of its components in-house. Moreover, the company asserts that it is the only OEM in India with a cutting-edge motor manufacturing line within its 200,000 sq ft facility in Shoolagiri, Tamil Nadu.

Currently undergoing a pilot phase in Bangalore, Simple Energy has started deliveries in the city and is preparing to launch dealership stores in Bangalore, Mysore, Chennai, Vijayawada, Goa, Vizag, Kochi, Mumbai, Pune, Ahmedabad, Surat, Delhi, and Hyderabad in the coming weeks.

Chief Growth Officer at Klarity, Balamurugan Arumugam said, “In the field of sustainable transportation, Simple Energy stands out for its innovation and forward-thinking approach. With a strategic growth plan, the company is set to transform the market for advanced EV two-wheelers in India and beyond. As it gains traction, Simple Energy is poised to capture local market share and emerge as a global leader in sustainable mobility, appealing to those who prioritize innovation and environmental responsibility.”

In the field of sustainable transportation, Simple Energy stands out for its innovation and forward-thinking approach. With a strategic growth plan, the company is set to transform the market for advanced EV two-wheelers in India and beyond. As it gains traction, Simple Energy is poised to capture local market share and emerge as a global leader in sustainable mobility, appealing to those who prioritize innovation and environmental responsibility.