Simple Energy, an electric vehicle and renewable energy startup, raising more than $20 million in a current bridge deal. The company stated that it will utilise the funds to increase manufacture of the Simple ONE, an elegant and cost-effective electric scooter. The company claims that since opening up booking slots for this bike, it has received over 1 lakh reservations.

Dr. Arokiaswamy Velumani, the founder of Thyrocare Technologies Limited, Ashwin Hinduja of the Gokaldas Group, Sanjay and Sandeep Wadhawa, the owners of Nash Industries, Sripriya Kalyanasundaram, the chief strategy and evangelist for the CEO's office, Lambda Test, Purple Moon Ventures, as well as previous investors Manish Bharti and Vasavi Green Tech, participated in this round of funding.

"The monies raised will be used wisely to aid in the ramp-up of manufacturing and for a quicker start to deliveries. Suhas Rajkumar, the founder and CEO of Simple Energy, stated, "We have effectively de-bottlenecked product constraints and are hopeful that we will start deliveries soon. The company, which was established in 2019, just opened a plant in Shoolagiri, Tamil Nadu, with an initial investment of Rs 100 crore.

The company has other goods in the works and has made research and development its top priority. The company claims to have created an extensive line of Made in India e-mobility solutions that solve three key issues: range anxiety, charging time, and pricing. The items, they claim, vary from surface design to chassis design, battery development to motor development.

The founder of Thyrocare Technologies Limited, Dr. Arokiaswamy Velumani, said of Simple Energy: "Simple Energy is one of the few startups with all the ingredients to be a market leader: founders with diverse expertise; customer-first approach; benchmarking of the product by category; understanding of customer needs; and a clear vision of products to be introduced in the market over the next 36 months."